Leading economist expert, Ted Bauman, says that unlike what many of his colleagues say, Amazon is not a monopoly. Ted Bauman says that if Amazon were a monopoly it would have no problem offering poor customer service or outrageously high prices. But it doesn’t. Its customer services remain top quality service and its prices very competitive because there is a lot of stiff competition for it out there. Although its competition naturally doesn’t like Amazon, none of them have accused it of unfair anti-competitive tactics. And brick-and-mortar companies are not really threatened by it at all.
Studies have shown that most shoppers just opt to visit their local grocery, hardware, or drug store instead of getting these things online. None of this is to say that Amazon is increasingly becoming wildly successful. It has so continued to hone itself in so many areas that it today dominates the online retail world. Ted Bauman says it annoys him that there are some in the media commentating on these things very lopsidedly, misconstruing the facts based on their personal bias. They are wrongfully painting Amazon as a monopolistic giant engaging in unfair anti-competitive practices.
However, while Bauman says this is not the case, he does have a major concern about Amazon. He says that Amazon collects so much information about its customers that it comprises a serious threat to their private information security. Ted Bauman has therefore created a guide for ensuring your personal information remains safe. Ted advises people to encrypt all of their text messages and their hard drive to make it unintelligible to others unless they have a password. Although Ted Bauman does have this major concern about Amazon, he personally loves and often uses it to purchase merchandise himself. He says it is hard to beat Amazons vast selection, affordable pricing, and speedy shipping.