Name: Insights: Is Amazon Moving Into Too Many Areas?
Uploaded: 2020-02-11
Duration: 1 min 31 s
Description: The online giant may soon enter the banking space. (September 2018)

 Today, we're discussing Amazon, the online retail giant known for aggressively tackling new markets. Right now, rumors are swirling that Amazon might get into the banking industry. Lisa Marie, is Amazon overextending itself? And also, do banks have anything to be afraid of? Banks should absolutely be afraid. It's easy to say that Amazon is overextending itself, but Amazon actually started as a way for people to buy books-- and only books-- online. And now, look at where it is. So this growth is something that Amazon does very often and it does well. I would counter that and say, if you look at a lot of the markets that Amazon has entered, they haven't really displaced a lot of the competition there. I'll give you publishing. Amazon has totally dominated that market. But if you look at other things, like, for instance, the digital ad market, which is quickly growing for Amazon. It's become the third biggest in terms of how many ads it sells. But Google and Facebook really are the duopoly there. They totally control things. And Amazon does not pose a threat to them. I say the same thing is going to go for banking. It's easy to say that, but if you look at retail, for instance, an area that they started expanding into much earlier, they really have changed the whole space of it. You see brick and mortar stores going down all the time. I mean, they bought Whole Foods. Exactly. But I would say a lot of the grocery industry is doing just fine as well. Amazon controls less than 2% of it, even with the Whole Foods buy. 

Insights: Is Amazon Moving Into Too Many Areas?

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The online giant may soon enter the banking space.

Is Amazon Moving Into Too Many Areas?

The online giant may soon enter the banking space. (September 2018)

they were discussing Amazon, the online retail giant known for aggressively tackling new markets. Right now, rumors are swirling that Amazon might get into the banking industry with Marie. Is Amazon overextending itself? And also do banks have anything to be afraid of? Banks should absolutely be afraid. You know, it's easy to say that Amazon is overextending itself. But you know, Amazon actually started as a way for people to buy books and on Lee books online. And now look at where it is. So this growth is something that Amazon does very often, and it does well. I would counter that and say, If you look at a lot of the markets that Amazon has entered, they haven't really displaced a lot of competition there. I'll give you publishing. You know, Amazon has totally dominated that market. But if you look at other things like, for instance, the digital ad market, which is quickly growing for Amazon, it's become the third biggest, uh, you know, in terms of how many ads itself. But Google and Facebook really are the duopoly there. They totally control things, and Amazon does not pose a threat to them. I said the same thing is gonna go for banking. You know, it's easy to say that, but if you look at retail, for instance, own area that they started expanding into much earlier, they really have changed the whole face of it. You know, brick and mortar stores going down all the time. I mean, they bought whole foods. Exactly. But, you know, I would say a lot of the grocery industry is doing just fine as well. You know, Amazon controls less than 2% of it, even with the whole foods by.