The paper "Competition, Innovation, and Regulation - the Australian Retail Sector " is a perfect example of a micro and macroeconomic case study. In the contemporary world, technological advancements have revolutionised the business world. The establishment of the electronic network such as the internet has contributed greatly to the evolution of online shopping. The radical technological innovation, particularly the internet has major impacts on business competition and the economy. Internet is now largely used in retailing with online retailers such as Amazon. com changing the retailing business. The competitive advantages instigated by the novel internet technology are so powerful that established competitors cannot afford to ignore it.
Technological innovation has been instrumental in the growth and expansion of Amazon. The firm is set to land in Australia very soon. The retailer has a business model that priorities reduced prices and loyalty and management that focuses on short-term profits with the main aim of maintaining long-term dominance in the retail market. Given its unfair advantages that are not enjoyed by other firms, the Australian retail sector is feeling threatened by the entry of Amazon in the country.
The focus of this essay is on how the Australian retail sector will respond. Amazon Business Model Amazon. com is a cloud computing and an electronic commerce firm based in America. The firm was established is the 1990s and has transformed into the biggest internet-based retailer in the globe. Amazon began as an online bookstore and it has now diversified its product lines. The company now sells jewellery, toys, sporting goods, housewares, food, apparel, furniture, electronics, video games, software, books, music, USB cables, CDs, Blu-rays, DVDs, Audiobook streaming/downloads, shoes, magazines and computers.
Amazon holds separate retail websites for different nations among them the UK, USA, Mexico, India, Canada and Japan to mention but a few. Amazon. com targets customers who want to find good deals and buy products conveniently over the internet.
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