Every tech company has a point in time when it scores its high figures in sales revenue. For Apple, the year 2018 was one of the best regarding sales revenue because this was the day they launched the first iPhone.
— Ted Bauman Guru (@TedBaumanGuru) November 29, 2018
Today, the iPhone is one of the most popular phones in the market with over 70% of the world’s population having access to one iPhone. But this single product has not made Apple a monopoly, but its wide range of products has changed the iPhone into an Apple ecosystem.
This is the same thing happening with Amazon. Believe it or not, Amazon does not only get its sales revenue from its online retail but also its Amazon Web Services. It gets nearly $5 billion in revenue from AWS.
Jeff Bezos’ vision is to create a monopoly, which it isn’t as of yet so that Amazon can control various aspects of the market. This is something that Steve Jobs accomplished with Apple. But critics such as Ted Bauman state that Amazon is still a long way to becoming a monopoly.
Ted Bauman, the editor of The Bauman Letter, argues that Amazon is the modern equivalent of the Sears catalogue. This means that Amazon is merely acting as a provider for most things that people want especially with the aim for immediate gratification.
According to statistics by Ted Bauman, Amazon has over 90 million people currently holding the Prime Membership. Most of these people purchase products because of their thirst for immediate satisfaction.
Ted Bauman goes on to argue that Amazon is making less income than the Kroger supermarket chain. Ted states that although most people purchase products online, they prefer to buy day to day items offline.
Also, Ted Bauman states that Amazon has not had a tremendous impact on conventional merchants in the United States. And this is as a result of many traditional stores retaining popularity among shoppers.
Ted is the editor of a magazine that has over 100,000 subscribers per month. Also, Ted also writes for several services such as Smart Money, Alpha Stock Alert and ETF-trading platform.
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