There is absolutely no doubt the retail industry in the USA has been hurt by dirt-cheap competition. But, it is not limited to Amazon. I don't know what is so exclusive about the tech companies and their merchandising.
See I don't call Walmart an important "retail industry." I call stores like Sears and JC Penny and all those LOCAL INDEPENDENT businesses, the retail industry.
If Trump is going to look into conglomerate enterprises in the USA that destroyed retail stores and industry, he and his pandering Justice Department have to look at Walmart and Big Box Stores primarily stocked with Chinese merchandise. Amazon is no more guilty than Walmart.
July 24, 2019
By Maggie Fitzgerald
Treasury Secretary Steven Mnuchin (click here) said Wednesday the Justice Department is right to be looking into Amazon’s practices as part of its antitrust review of big technology companies.
“I think if you look at Amazon, although there are certain benefits to it, they’ve destroyed the retail industry across the United States so there’s no question they’ve limited competition,” Mnuchin told CNBC’s “Squawk Box.“ "I think it’s very good that the attorney general is going to look into this. I think it’s an important issue and I look forward to him reporting back to the president and hearing his recommendations,” said Mnuchin.
The Justice Department said Tuesday it is opening a broad antitrust review of big technology companies, sending shares of Amazon, Alphabet and Facebook lower in off-hours trading. The DOJ said it is looking into how major online platforms have “achieved market power” and how their practices may have “reduced competition, stifled innovation, or otherwise harmed consumers.”...
There is a much larger picture that occurred with the loss of the retail industry in the USA. The loss of the retail industry also caused the loss of a segment of the USA manufacturing sector that produced products like Kenmore. But, all that diversity was lost when computers took over and there were large warehouse industries developed like Amazon and Apple. But, at the same time, these industries, especially the likes of Apple, are allowed their own form of merchandising.
These are e-commerce companies and they have developed over time to be convenient and INFORMING. The companies have multi-dimensional shopping that provides information and comments from consumers that some find attractive.
Me? I like Main Street shopping. But, that has been disappearing for decades.
The competition in e-commerce is tight and these companies have extensive international competition as well such as Alibaba (click here).
The loss of the "retail industry" I like is far more extensive than simply Amazon, Google, Facebook or Apple; it is a growth of big box stores that primarily carry products from China. Main Street America has disappeared for a reason, but, it isn't just e-commerce that did it.
July 23, 2019
By Nick Bastone
The US Department of Justice (click here) has launched a broad probe into top "online platforms" for search, social media, and e-commerce to determine whether they are stifling competition and innovation, the department said in a press release on Tuesday.
The DOJ did not cite any specific companies, but the announcement left no doubt that Alphabet, Facebook, Amazon, and Apple were all under the agency's scrutiny. Shares of the four "Big Tech" companies all fell in after-hours trading immediately after news of the government probe emerged.
Citing "widespread concerns" expressed by consumers, businesses, and entrepreneurs, the Justice Department said it would review "whether and how market-leading online platforms have achieved market power and are engaging in practices that have reduced competition."...
