Donald Trump said in his presidential campaign that jobs were being lost to overseas market. He said by bringing these jobs back people would see the United States economy grow. We cannot be too certain of this anymore.
Amazon has taken over the job market. Companies are closing more than 22,000 stores due to their inability to keep up with Amazon’s retail market. That is just the beginning. Amazon has also closed other online stores because of their ability to either buy them out, or utilize cutting edge strategies to cause them to go belly-up. Founder and CEO of Amazon, Jeff Bezos, is not concerned about this, considering his net worth has now surpassed Warren Buffet, making him the second richest man in the world.
There are claims that Amazon has “added” 600,000 jobs in the past few years, but where are these jobs? What are they? It’s hard to tell whether or not these jobs pay a wage that someone can live on, or if they’re just mediocre positions in which you would work if you were still in high school. With a company like Amazon that has net profits over $200 billion, they could employ over 100,000 more individuals. Yet, they have a low number of staff for their growing company.
Not only has Amazon taken over the retail shopping industry, recently, they have purchased Whole Foods Market, which will allow them to take over the grocery shopping industry as well. In the coming years, we should expect to see less of everything. Less grocery stores, and much less retail locations. As previously posted in Online Shopping is Taking Over, chain stores like Sears and JCPenney cannot stand the heat from the fire Amazon has lit underneath them, and they are closing many of their locations. If large retail locations cannot stand the heat, how will small businesses last?
As a small town dweller myself, I have seen a thriving shopping mall go from over 50 stores to just around 10 stores. There has been a decrease in small businesses around the “city” areas of Vermont, and much less business going on in the small towns of Vermont. Across the border in Glens Falls, New York, there have been store closings, and many have been chain stores like JCPenney and Sears. Other closings have included American Eagle, Pac-Sun, and Claire’s. One after the other, stores, restaurants, and other retail shops have been shutting their doors. The chain that has survived, and grew, is Wal-Mart.
That being said, it is a real shame that Amazon is taking over. I do love Amazon, as do many, but I would rather go to a store to do most shopping versus buying everything online. While it may seem minuscule when you live in a big city, this trend of small businesses closing dramatically affects the economy in the rural areas of the United States. It also affects the possibility of new businesses opening, leading people to reconsider starting a business at all when there is little hope for the future of the business to survive.
The trend of online shopping isn’t going to die. It is only going to continue growing, but it is a sad time for small businesses and retail shops alike. If large corporations are not conscious of the economic effects of their attempts to monopolize their brands, the country could be in trouble.