Amazon may have started off as a tiny little online bookseller back in the middle of the 1990s, but today it is a juggernaut of the online retail space and has clearly set its sights on becoming the most important, the most influential, and the most impactful retailer in human history.
Today, Amazon commands a tremendous share of online sales and the market share that they enjoy is only continuing to get larger and larger. Major companies like Walmart are trying to fight back against Amazon, opening up their own online retail portals, but because of the head start that Amazon has enjoyed – and because of the dedication to building out their infrastructure, improving their vertically integrated services, and offering products at prices that the competition can’t touch – these efforts have been pretty ineffective at slowing down Amazon even just a little bit.
Traditional retail malls are getting crushed all over the world, and the truth is the malls here in Singapore are getting just as badly hammered as well. The department store John Little shut down after a 174 year run of business because of the growth of Amazon, and with this company now offering to our prime now delivery throughout Singapore there just seems no end in sight to the growth this company is going to enjoy.
Amazon is out for global domination of the online shopping space
Make no mistake about it – Amazon has been crystal-clear about their overall goal of the global domination of the online shopping space, and they have been making moves and making investments to help make this goal a reality ever since they first opened up for business.
In Singapore, Amazon has been able to tap into the amazing and robust infrastructure that this city state has to offer to provide lightning fast delivery services and unbeatable he low prices, a powerful combination that is always going to attract consumers no matter what.
The convenience and the prices that Amazon offer are off the charts, and it’s making it very hard for traditional retailers to compete.
Consumers are trying to shop local more often – but Amazon’s prices make it tough
Many of the major shopping malls in Singapore (including Capital Land Mall Group) are posting negative retail numbers for the first time in a long time, and some of them are seeing tenants begin to fold up shop and leave because of the competition that Amazon has pushed upon them.
The entertainment and electronics businesses are still doing quite well in Singapore malls, as our food service and fashion outlets, but all other stores – especially specialty stores – are getting crushed under the weight of Amazon and the pressure that they are bringing to the market.
Local Singapore citizens are trying to prop up the local economy through a variety of different initiatives, but at the end of the day it is looking like a fight that these Singapore retail malls just aren’t going to be able to win. Amazon appears set to do anything and everything they can to crush the competition while building up retail services that consumers go crazy for, and this company definitely looks like the face of retail for the foreseeable future.
About the Author
Morris Edwards is a content writer at CompanyRegistrationinSingapore.com.sg, he writes different topics like Amazon Prime is Gaining Traction in Southeast Asia, SMRT Is Considering Selling Its Cab Business to Grab and all topics related to Business and Economy, if you are interested about Company Incorporation Singapore visit our website for more information.
