A new CNBC/SurveyMonkey Small Business Survey proves that Amazon Prime is essentially the new way small businesses buy and sell product. The new “Digital Wall Street for Retail” allows companies the ability to order quickly, test new products, and purchase items in bulk all at the click of a button. According the Small Business Survey “only 8 percent of small-business owners said technological innovation will have a negative effect on their business in the next year, while 42 percent said it will have a positive effect (49 percent answered “no effect”).” The comfortably with emerging technology is a great sign for Amazon Prime and any future advancements for retail players.
In addition to the support for innovation, over 55% of respondents view Amazon Prime as good or neutral for the future of small business. While the majority of respondents in industries such as Real Estate, Entertainment, Finance, and Healthcare saw Prime as good or neutral, 52% from Retail Trade fear Amazon Prime as being bad fro business. Despite the negative outlook, most still use the offering. “According to the third-quarter CNBC/SurveyMonkey Small Business Survey, the households of small-business owners are significantly more likely to be Amazon Prime members than the general population of Americans — 58 percent vs. 46 percent.”
Reasonable competition for Amazon Prime is few and most likely far off, which has helped the company create a monopoly on the digital small business buying and selling space. As Sean Allan of SiamMandalay, which creates educational puzzles and games puts it, “Prime shipping and the one-stop-marketplace nature of Amazon is so powerful, it’s ridiculous to think we can compete. The biggest buying and selling advantage is Prime shipping. Next-day delivery anywhere in the country on nearly any product … How can you compete with that?”