Market domination is one of the negative consequences that we can see Amazon
having. This commercial hegemony is stifling opportunities and increasing inequity.
The concentration of power threatens communal life, democracy, and even
competitiveness. In reaction to how people shop, Amazon is known to eliminate
market power and take over the industry. This has had far-reaching economic
consequences that go beyond the wallets of customers. It has an impact on
investment, jobs, and the rate of inflation, both directly and indirectly.
The beneficial impact of Amazon would rather be on US jobs, both at the national
and local levels, having more than offset prospective increase in retail employment
in the ecommerce industry. It supports a variety of worldwide efforts, including
young people learning about STEM, Amazon Smile, various campaigns, and other
global initiatives.
References:
https://www.investopedia.com/terms/a/amazon-effect.asp
https://www.forbes.com/sites/forbescommunicationscouncil/2018/02/22/what-
the-amazon-effect-means-for-retailers/?sh=4942b52e2ded
