Poll question: Amazon's impact

During fiscal 2020,  the Seattle-based internet giant saw net sales increase 38% to $386.1 billion. Those are impressive numbers.

Also impressive is the innovation that Amazon has brought to Corporate America. Jeff Bezos listed them in the company’s most recent 10K report:

“Amazon is what it is because of invention,” Bezos said, in his last 10K before retiring. “We do crazy things together and then make them normal. We pioneered customer reviews, 1-Click, personalized recommendations, Prime’s insanely-fast shipping, Just Walk Out shopping, the Climate Pledge, Kindle, Alexa, marketplace, infrastructure cloud computing, Career Choice, and much more.”

However, the internet giant is seen as something of a dangerous monopoly to a significant number of groups representing independent businesses.

One of the them, the Institute for Local Self Reliance, pointed to stats showing that Amazon captures about 50% of online shopping and that more than 60% of Americans start their search at Amazon when they want to buy something online. “As a result, other retailers have little alternative but to sell on Amazon’s site,” the group said.