Is Amazon a Monopoly or not in its industry?

There is one name in the mouth of US citizens when it comes to retail and that’s Amazon. Amazon is no longer a United America only store, it is now a worldwide conglomerate with investments in the food industry (Whole Foods), Online Streaming, Gaming, Artificial Intelligence, Robotics, and Data Analytics and so on. You can say really well that Jeff Bezos is really an entrepreneur.

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Amazon as a conglomerate is into the business of rendering services to their customers, from their delivery to gaming, web services, and artificial intelligence and so on, it has its tentacles in every business industry and we must say that it is diversified compared to other companies like Apple and Microsoft which has specifically unique products or services. Starting as an online bookstore by Jeff, the company already had a future plan of expanding beyond selling online books.

Do you think Amazon is making profit?

For years, newspapers and magazines made it clear that Amazon wasn’t making profit in anyway, in fact, a lot of people still believe that the company isn’t profitable yet and the reason why the company is still very strong and surviving is because, they take the profit from succeeding businesses and use it to fund the collapsing ones so they do not collapse and they keep rendering their services. Amazon has never lost but it has been using its profit to create new businesses.

Is Amazon a Monopoly?

Monopoly is having one person selling the goods to a lot of people, which gives them the right to fix their prices since they know they are the only one but I do not think Amazon is a monopoly, I could call it a monopsony partially because the company is not a buyer but it has made itself the best option for all sellers to sell their products on their site.