Ted Bauman was born in the United States but later migrated to South Africa for his studies. He joined the University of Cape Town where he graduated with a postgraduate degree in Economics and history. He later went back to school and graduated with an MBA from the University of Georgia in the year 2001. After school, he ventured in the non-profit sector that operated for more than 10 years.
He concentrated on helping the slum dwellers acquire low costing houses. His organization has assisted more than 14 million needy people in different countries. Bauman is a renowned and highly respected economist has highly criticized the assumption held by many that Amazon is a monopoly. He goes ahead to further warn the promoters of this company about its vulnerability.
According to Ted Bauman, Amazon is not a monopoly. Here are some of the reasons as to why he thinks so. First, experts tend to think that Amazon controls half of the online retail market. He said that online shoppers don’t buy a majority of their good’s from this company as a good proportion gets them from other online retailers such as Wal-Mart, Apple, and many others. These competitors control 56 % of the e-commerce market share. Again, Amazon sales do not seem to have any impact on the majority of the conventional merchants.
Despite the fact that e-commerce has experienced tremendous growth and attracting huge media coverage, a majority of the traditional stores still remain relevant. Ted Bauman thinks that this can be reinforced by the fact that these traditional stores still generates a huge chunk of retail revenue in the United States.
Ted Bauman also said that some people still think that Amazon is the market leader because of its engagements in numerous industries. Amazon sells a wide variety of products ranging from cough drops to Machines. Despite this, it still faces worthy competitors in most economic sectors who sell similar goods at competitive prices. Amazon has tried venturing in the grocery sector. It managed to introduce Amazon Fresh and purchased whole foods. It went ahead and bought several food stores. However, all these efforts didn’t bear fruits as it did not dominate the market.