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It’s no secret that Amazon and other online retailers have challenged America’s small and independent businesses in recent years. In fact, the Institute for Local Self-Reliance has previously reported that some 90 percent of independent businesses say Amazon has negatively impacted their revenue.
In light of the recent Supreme Court decision in South Dakota v. Wayfair, many of Long Island’s local businesses joined together Monday to call for Amazon to begin collecting state sales tax on all purchases.
Amazon isn’t known for losing, but there’s at least one way that local brick-and-mortar businesses undeniably outperform the online mega-retailer. Just two weeks after Amazon’s quarterly earnings report showed huge growth, a new study by Civic Economics reveals what those earnings mean for communities and local economies across the country – and they don’t mean much. The 2018 Home Sweet Home: Locals vs. Amazon study reports that local hardware and…read more →
Last month, Amazon announced that it would acquire Whole Foods for a staggering $13.7 billion. The deal unmistakably makes Amazon larger and more powerful than it already was, but it also begs a question that used to be easily overlooked. What will Amazon do next? It may seem premature to worry about Amazon’s next step when the deal with Whole Foods has barely gone through, but let’s face it: At…read more →
It’s no secret that Amazon’s foothold in the American economy has been growing for years. What started as an online venture to sell books has morphed into an all-consuming retail giant, offering everything from groceries to furniture. Amazon even sells its own, proprietary products, such as the Kindle e-reader and the Echo personal assistant device. In fact, 46 percent of U.S. households include at least one member of Amazon’s Prime…read more →
Advocates for Independent Business (AIB) today hailed a newly issued accounting rule that will require local and state governments to annually disclose the amount of tax breaks they give to corporations…
Amazon’s sales have fallen in states where it is now required to collect sales taxes…We can only imagine how different the retail landscape might be today had Congress passed an internet sales tax bill a decade ago, when Amazon was big
For many Americans, shopping online offers the convenience of low prices, fast shipping, and front-door delivery. As online retail giants like Amazon continue to thrive and expand, however, shopping online may not be so convenient for your local economy.
