Impact of the Microeconomic and Macroeconomic Environment

This report analyzes the performance of Amazon in relation to its competitors and explores the impact of microeconomic and macroeconomic environment on the company. It examines the market share, cost vulnerabilities, and effectiveness of Amazon's business strategy.

Impact of the Microeconomic
and Macroeconomic
Environment
Table of Contents

INTRODUCTION ..........................................................................................................................3
MAIN BODY...................................................................................................................................3
1. Performance of the organization in relation to its main competitors.......................................3
2. Use of economic theory and data to explore Amazon macroeconomic, market and cost
vulnerability by comparing with another organisation................................................................5
Effectiveness of Amazon Strategy.............................................................................................15
Amazon Preparation for economic shock in the year 2020.......................................................17
CONCLUSION..............................................................................................................................19
REFERENCES..............................................................................................................................20
INTRODUCTION
Microeconomic environment is defined as the things that affect the individual of the
company along with its internal company structure. Microeconomic environment consists of all

the aspects that fall into the category of the company within which its operations work
(Guoqiang, 2016). Amazon being the biggest online retail store has managed with the
microeconomic environment to be considered in more precise form.
Macroeconomic environment is defined as the things that affect the organization on its
outskirts, that is, the external environment consisting of its market structure, its competitors etc.
which directly are linked with the organization (Safonov and Sheremet, 2017). The external
environment of organization affects the whole organization largely on the basis of GDP growth,
taxes, unemployment, inflation, etc. Amazon has also responded efficiently towards changes in
its macroeconomic environment.
This report will analyse the performance of Amazon in relation to its competitors. This is
done with the economic theory and data to explore the firm's macroeconomic exposure and its
cost vulnerabilities including comparisons with an appropriate comparator organization. The
effectiveness of business strategy of Amazon in 2008/2009 and how well equipped is Amazon to
handle any global economic shocks from 2020 onwards is also measured in this report.
MAIN BODY
1. Performance of the organization in relation to its main competitors
Amazon is an online retailer which provides its services and products to cater supply to
its customers. Amazon has created vast market size in terms of outsourcing its commodities from
making available all the products that are necessary in day to day life consisting from selling
books, music, movies, housewares, electronics, clothes etc (Debter, 2019). Due to theses
competitors in market Amazon has greatly achieved and progressed its products and services to
be better in the market structure. The main competitors of Amazon in retail services is Walmart.
For subscription service Amazon competes with Google, Netflix and Apple. In the web services
Amazon has main competition with IBM, Microsoft. From past 2006-2019 Amazon has broken
down the part from which they have received major revenue. They have major earning from
Online stores, Physical stores, Third-party seller services, Subscription services Amazon Web
Services (AWS). One of the most significant competitor of Amazon is Alibaba. E-commerce
represented 14.3% of total retail sales in 2018, and Amazon accounts for 40% of U.S. online
retail. Walmart was being founded in year 1962 while Amazon was founded in the year 1994.
The growth strategy of Amazon has been far more ahead.

Performance of Ali Baba and Amazon
(Source: Performance of Ali baba and Amazon, 2018)
Amazon and Walmart are the retailers who are in constant competition. Amazon leads in online
space but Walmart has grabbed their market share physically.
Financials: Walmart's total equity is a whopping $79.6 billion dollars, while Amazon's is
$43.55 billion dollars. It has been evaluated that in year 2018 Walmart has hired 2.2 Million
employees while Amazon hired 575000. In the year 2008 the free cash flow of Amazon was $
1,364 on the other hand the free cash flow of Walmart was $ 11,648. It was quite high than
Amazon. Walmart has market their monopoly in retail markets for quite a few time but Amazon
has taken the loop back and disrupted market of all online retail stores. The net sales of Walmart
have been increased by 7.2 to 8.6 in the year 2009. On the other hand, in the year 2008-2009
Amazon repurchased the 2.2 million shares and 6.3 marketing stocks. In this year the company
has decided to lower down the variable cost and try to leverage their fixed cost. Amazon has
made use of better model so that inventory can be given out quickly. The inventory has been
noted on 12, 13 and 13 (Debter, 2019). It was also being analysed that accounts were being
payable at 52, 57 and 63 for the year 2007 and 2008 respectively. In order to gain the
competitive edge firm has worked on their innovative aspects so that they can grow and are also
being able to achieve the set target and objectives. It was also being analysed that the cash which
was being provided by company’s operating activities included $ 1,697. It was also being
analysed that revenue which was generated with the investing and financing activities in year
2008 was 98 and 1189. It was also being analysed that gross profit of Walmart was 23.7, 23.5,
23.4% in the fiscal years 2008, 2009. The segment net sales of Walmart have been increased by

6.8, 5.8 and 7.8%. The sales were higher in 2009 because of the higher consumer traffic (Barra
and Ruggiero, 2020).
Performance of Walmart and Amazon
(Source: Performance of Walmart and Amazon, 2018)
It was analysed that Stock price of Amazon has increased continuously with the years in
comparison to their competitors. In year 2007, stock price of company was $78 in June, it has
increased rapidly in upcoming months as the stock price was seen at $93 in September. Growth
of Amazon has been tremendous. There has been ups and downs in stock performance of
Amazon. The stock performance of Amazon is far more ahead than their competitors. In
December 2019, the stock price of Amazon was noted at 3,256.93 -28.92 (-0.88%) in
comparison to Microsoft it was $222.42. The competitors such as Alibaba and Amazon have also
set up their target market. It has been analysed that they have set up their eyes on Australia who
is going through mature financial economic conditions. They are also targeting Singapore so that
they can expand their business over there too. There are different strategies which is being
followed by both Alibaba and Amazon. In order to expand in India Jeff Bezoz has launched
Amazon.in. The owner has also used $2B to spend in equity deals. The company has tried to
invest in the growing entrepreneurial hub. It has also been analysed that the equity deals in India
has been grown about 270%. It was about 543 from 2013 to 2019.
There has been so many ups and downs in stock performance of Amazon but the company has
tried to overcome it and is being able to gain competitive advantage. It was analysed that in year
2018 share of Amazon has hit the record intraday price of $2,050. They have become the second
company in USA after Apple. Amazon stock has also been beginning to fall in year 2018 in the
fourth quarter. The result was even worse than the 2008 recession. The company has grown
tremendously from the past years. From 2008 to 2019 Amazon has become number one
company who has disrupted the market of so many online as well as physical stores. It has been

analysed that in year 2019 Amazon has provided 1500 new opportunities in new areas and
market. They will also open a new office in Manhattan till 2021.
The Gross domestic product has been increased to 33.4 % to $21,170 billion in the third quarter
of 2019. It was being increased from the $21,157 from the second quarter. Consumer spending
has also been increased by 41.0%. It means it was doubled. Spending on U.S. made Goods
increased by 31.1 %, where consumption of Durable Goods grew by 82.7 %. The final sales of
goods and services has been increased to 25.9% to July to September period in the year 2019.
The economy has grown because of it (Burke, Stern and Bruns, 2018).
2. Use of economic theory and data to explore Amazon macroeconomic, market and cost
vulnerability by comparing with another organisation
Aggregate demand and supply: Aggregate demand is influenced by economic decisions which
can be public or private. Another is that prices respond to slow change in supply and demand and
last is change in aggregate demand have effect on shirt run output and employment but not on
price. AD and AS explains the short term fluctuations in the real GDP along with the price level.
SRAS curve shows the relationship between the short run among the price level and quantity of
the real GDP supplied by the entities.
Macroeconomic exposure
GDP: Amazon has created an economic ripple effects which leads to the going beyond
the customer's wallet. Amazon has a direct or indirect impact on the inflation, employment and

the investment. From the macro side, the higher the consumer spendings is a good sign as it
results into contributing towards the GDP. On the consumer spending on Amazon is currently
not a significant enough to tip the GDP scale but it can be possible in the future. In the 2017, the
Amazon's market share of 37% in the US retail e-commerce business segment. Aggregate supply
(AS), refers to the total quantity of output the firm will produce or sell which is considered as the
real GDP.
Exchange rate: The cost of shipping of products from one place to another is the major
cost that is being incurred to Amazon. The net sales which is being generated from its
subsidiaries makes use of its local currencies as their functional currencies. Therefore, this
results into fluctuations as the financial outcomes of the foreign subsidiaries is translated into
the US dollars while doing consolidation. Thus, as the exchange rate varies the overall outcome
of the net sales and other operating outcomes may differ materially in comparison to the
expectations. Therefore, this is one of the exposure being faced by Amazon.
Minimum wage legislation: As per the federal minimum wage for the non-exempt
employees is $7.25 on hourly basis. But many also have minimum wage legislation, in case
where the employee is subject to the state as well as the federal laws, then in that case, that
employee is subjected yo the higher of the two minimum wages. This results into looking at the
rise in the wages of the Amazon employees which results into Amazon working on cutting its
spendings and increasing its price. The given below graph illustrates that the rise in the wages for
Amazon following the rise in the minimum wages results into SRATC moving upward to
SRATC1 from SRATC leading to increasing the costs at the every quantity supplied.

Illus
tration 1: Impact of a rise in Minimum wages on Amazon's SRATC
Non-economic exposure
Political dependency: The current political situation of US will create a non-economic
risk exposure for the company and its major competitors like Walmart, Alibaba are also exposed
to the same level of risk. The change in the political structure will result into affecting the rules
and regulation pertaining to the logistics and the supply chain of the products and services.
Tax shaming: As these organizations are having a very complex taxation system and
along with this, they have worked on implementing the practices which has resulted into tax
avoidance. The Amazon in UK had a sales of £3.35bn in the year 2011 only disclosed the tax
expense of £1.8 m. This has resulted into impacting the brand image of the company. Not only
just the Amazon, but its core competitors like Walmart and Alibaba has affected the resulting
outcome. The bribery case pertaining to the Foreign Corrupt Practices Act charged over the
Walmart which defines prohibition on paying bribes to the foreign officials. This resulted into
increase in the demand of the Amazon of the goods in comparison to the Walmart.

Illustration 2: Impact of increase in demand for Amazon due to
Walmart bribe case
The above graph clearly shows the impact of the decrease in consumer demand of
Walmart and switching to the Amazon results into the shift in the demand curve of Amazon. The
demand curve shift to D2 from the point D1. This also results into rise in the quantity demanded
at each price. At point P1, the quantity demanded rises to Q2 from Q1.
Market exposure
Nature of competition: Amazon operates on a monopolistic market as it resembles with
the characteristic of this competitive structure.

The above graph depicts the key competitors of Amazon and the market players
operating similar business to that of Amazon (Lordkipanidze, 2019). The product differentiation
is the another factor which shows the characteristics of the similar but differentiated products
which differs on account of the taste, quality, sustainability and so forth. Even when the close to
another, the seller sells at the different prices (Competing With Amazon: How Amazon’s Top
Ecommerce Competitors Survive and Thrive. 2020). Also, the consumers are having relatively
relevant information pertaining to the alternative price and products. A quick research through
the company's website helps in effectively comparing the prices. The number of e-commerce
companies are increasing at a higher rate. US is having huge number of e-commerce companies
which is being shown below but the list is exhaustive which only shows the top 50 companies. .

Market share: The market share is shown below, capturing a 50% share of the US e-
commerce market is very impressive and it is up against many of its competitors (Amazon’s
Dominance in Ecommerce. 2018). Retailers like the Walmart and the Best Buy are investing
huge amount or the billion of dollars to get their foot in the online retail market. The competition
is very fierce but Amazon has been able to accomplish the astronomical growth.

Amazon is considered as the market leader thus, any change in the price being made by it
will, might influence the other firms to make the similar change in their pricing. This represents
the characteristics of the oligopoly market structure (U.S. Amazon retail e-commerce GMV share
2016-2021. 2020). The increasing growth in the number of e-commerce firms has caused other
firms or the new firms to enter the market because of tough competition prevailing within it.

Illustration 3: Projected retail e-commerce GMV share of Amazon in US from 2016-2021
In December 2018, 62% of the Amazon customers in US are the Amazon prime members
which is important for the company's success as the prime members are highly engaged in the
shopping who spend double the time as compared to the non-prime members.
E-commerce market elasticity: The e-commerce market price is elastic through the way
of estimating the price elasticity of demand. The price elasticity mainly refers to the change in
the demand of the product pertaining to the change in the price. When the product has a high
price the demand of it will reduce and on the other side, if the price reduces the people will
purchase more. The graph given below, at quantity 100 the price was 50 and at point B, the
quantity is 50 at the price of 60. It is being assumed that the gross margin is at point A is 50 per
cent. With 20 per cent high price, the gross margin at that point is 60%.
Point A: 100 * 50 = 5000
5000 * 50% = 2500 in margin
Point B: 50 * 60 = 3000
3000 * 60% = 1800 margin

If the change in quantity is -70 and percentage change in price is 65, thus, elasticity = -
1.08. If the number is closer to zero it will be inelastic and if far from zero it will be elastic
(Gaivoronskaia, 2020). From the perspective of the e-commerce business it becomes very clear
that the price is elastic as nowadays, consumers are having more options and more benign to
comparing prices of the similar products. The main aim of the e-commerce is to strengthen their
brand turning it into elastic products in order to stand out in the marketplace. This means they
will increase the price but will not lower its demand.
Cost vulnerabilities
The graph illustrated below depicts the net sales of Amazon from the year 2004 to 2019.
In the last reported year, the net revenue of the company was 280.5 bn in the US dollar which
ash increased from 177.86 bn in 2017. The company generated maximum revenue in 2019
through its online retail sales and the brand worth of the Amazon has approximately 315 bn in
US dollars topping the companies such as the Walmart and Ikea along with the other operators
Alibaba, eBay. This results into creating a strength of the company which will help it in
effectively overcoming the issues and problems being faced by it. In the another figure which
highlights the revenue of the company segment wise. The company is engaged into other
businesses as well like the software development, website services and fulfilment centres. It
operates in the 3 business segment which are – North America, international and the Amazon
Web Services. In the Q1 of the year 2020, the net revenue of the company has increased to 26
per cent year-on-year basis amounting to $75,452 Mn US. On the basis of the segment, North
America has the contribution of 61% to the total sales of quarter 1 while the international and

Amazon Web service has a contribution of 26 and 13 per cent respectively. Therefore, in case the
company is facing any of the cost problem then it can effectively meet with it. The company is
currently not facing any such problem and in case the problem arises it can effectively meet with
the same. Therefore, it can be said that the company is not facing much of the issues.
Illustration 4: Annual net revenue of Amazon from 2004 to 2019 (in billion U.S. dollars)

Effectiveness of Amazon Strategy
There are number of strategies that has been implemented by Amazon in order to attract
customer and increase profit share in time of globalization. It has been able to understand taste
and trend and accordingly product as well as services provided to customers. Continuous
investment in technology and other sector help firm in reaching to customer on time and improve
market position. Firm has targetted that it will improve infrastructure which needed for changing
business and satisfying customers. After recession, it can be seen that firm has implemented
number of strategies which help in influencing customer and positively impacting on its market
position.
Recession-Friendly Tablet strategy: (Cheap Now, Pay Later)
There are number of tablet that Amazon's competitor offering but it focuses on providing
right quality of product on right time which increase customer satisfaction level. Kindle price
was comparatively low to others and hence it remains out of stock for more than 5 months which
shows that large number of people want to purchase it (Kinyua, 2019). Its quality was equal to
iPad which cost is very low and hence Owner said in the interview that they are offering
premium product at non-premium price. They also purchase large number of library which was

installed in tablet and hence people have choice in term of reading variety of books in their
leisure time. Amazon sales rise by 28% in the year 2009 which cannot be imagined by any of
competitor because of recession and hence it was successfully in this strategy. Still, large number
of people using Kindle and increasing profit share of firm in time of pandemic.
Heavily Invest in Research and development Programs
Company has highly invested in Research and development programs which help to
provide right quality product on right time such as during recession Kindle device satisfy
demand of customers. It has always doubled in Research and development programs so that able
to gain competitive advantage in changing business and increase profit share of firm.
Snapshot Widget
Amazon has launched app that help customer in knowing prices of product by taking
snapshot which become effective during recession when people have low budget and knowing
different product prices (Mataba, 2019).
Amazon DevPay
It helps freelances as well as online workers and hence help in billing as well as
managing account from home only and it helps number of people that are working from their
houses around the world (Barra and Ruggiero, 2020). This application will assist company to
save the time. Along with this, Amazon also offer different reward system in the form of cash
and non- monetary benefit which also promote different users to pay through this application.
During recession time, company is able to meet the demand of customers and this will also rise
among all the rivals during this time.
Free Shipping
The most effective strategies of Amazon are of free delivery services which decrease cost
and time of customer's and hence attract them to purchase product as well as services of firm in
time of globalization. So, in the recession time, the company is able to offer the products without
taking any shipping charges that encourage people to invest amount so that it creates a positive
impact upon business. This strategy clearly reflect that the business uses effective strategy which
in turn helps to cope up with the recession time.
Diversifying business portfolio
Another strategy which support Amazon to deal during recession time, such that
company launched Amazon Web Service (AWS) which completely change the market. Though

it was a risky strategy, but company take a chance in order to introduce the same during
recession which somehow lead the overall brand image at further level of success. As a result,
this application supports the company in its financial performance that further help to cope up
with the upcoming recession. Along with this offering Kindle as an electronic application in
which professionals read the books online is also another successful event which takes a business
at further level of success and deal during recession period.
Acquisition Strategy
Amazon in his own word try to merge as much as it can so that no one can stand with the
firm in changing business. It has using all tactics to remove local entrepreneur and now it
becomes one of the biggest global retail firm which increase profit share in changing business. In
simple word it can say that the firm which not able to defeat organization has to bowed down and
merged with Amazon (Haider and Tariq, 2018). During recession, it purchases a company which
offer large number of books library which was included in Kindle Tablet and hence able to
attract customers with the help of it. There are number of people which call Amazon as retail
mafia for number of strategy but it has only one vision to be 1 of the best and unique in every
sector.
Government strategy
In order to minimize the impact of recession time, government implemented Fiscal policy
in which government influence demand trough changing spending. On the other side, IMF also
give money to stem the loss of confidence and further implement the structural adjustment
policies. Further, loan is also provided by the government in order to prevent loss among
financial sectors. Also, supply-side policies are also implemented that helps to improve the
productivity and efficiency in economy. With the help of such policies, government is trying to
improve the economy during recession period.
Fiscal policy: The federal government implemented the discretionary fiscal policy during the
time of recession and implemented the tax cuts and the increase in the spending in 2008-09. Both
these policies has created a large deficit which is considered to be the appropriate stabilization
policy during such downturn.
Monetary policy: During the time of 2008 recession, Federal Reserve System, lowered the
interest rate and increased the money supply. The interest rate was reduced to zero in order to
shift the economy upward.

Amazon Preparation for economic shock in the year 2020
Pandemic has created number of issue for all type of sector and it becomes important that
timely action will be taken to overcome from it. Amazon become one of the biggest retail firm in
the world by continuous investment in Research & development programs as well as advance
technology which help in attracting customers and increase profit share of firm even in time of
COVID pandemic.
 Amazon has highly invested in supply chain management effectiveness as well as create
a strategy that will help in even during lock down or any upcoming challenges. Most of
the people now shifted purchasing habit from online stores but this product as well as
services timely deliver on their home and hence first created a strong network of supplier
to customers. It helps to increase customers satisfaction level and increase market share
of firm even during in the worst situation (Hwang, and Yee, 2018).
 It has invested in Advancement in Technology so that efficiency, quality and productivity
of work increases and hence impact on its growth. Firm is financially strong which help
in investment in system improvement which can contribute in growth of firm in any type
of situation. As the company is deal online and that is why, it is able to offer door to door
delivery to their customers which in turn improve the results during this pandemic. In
addition to this, Amazon’s AWS cloud computing unit which also powers the big portion
of Internet is also considered the key element during the crisis. Therefore, using right
technology at accurate time will help the company to cope up with many issues during
crisis.
 It has focusing on providing product on competitive bases as well as try to connect with
large number of suppliers so that it will able to gain competitive advantage by
manipulating market and impact on business of firm.
 Amazon is focusing in improvement in work from home culture so that until world will
safe from COVID pandemic, work can be done efficiently and it will not impact on
growth of firm even in any upcoming problems. There are number of software that firm
trying to develop which can help in tracking performance of workers as well as
availability on work-time so that no one can take profit from Work from home culture.
 Marketing Team of organization remain alert to any upcoming changes and analyses
changing taste and trend of customers which was in later stage help in developing a

product as well as services of buyer's choice. From 2020 onwards, Amazon start focusing
upon advance technology, because the entire country will be based upon digital era and
that is why, it is necessary for the firm to refocused upon such things that assist to cope
with future crisis.
 Amazon video Prime and other online media services attracting large number of people
and it will help in increasing market share of firm even during the worst time. It has
positively impact on growth of firm and impact on its market (Flachenecker, 2018).
Many secondary research also shows that during crisis, people spend their time by
watching entertainment series. Thus to identify the same, company start offering different
web series that helps to attract range of audience towards it.
 In addition to this, quoted firm is also start offering payment facilities to their customers
during this pandemic crisis through which they easily pay their bills either electricity or
water. This shows that company invest enough time to introduce best service by identify
the need of customers so that it will able to create positive impact upon the business and
dal with economic shock as well. Recently, this invention added the positive brand image
of a firm in front of customers and rivals which indicate that company have enough and
well equipped resources which in turn deal with future shocks easily.
 Continuous investment in technology and other sector help firm in reaching to customer
on time and improve market position. Firm has targetted that it will improve
infrastructure which needed for changing business and satisfying customers.
CONCLUSION
It can be analysed from the report that micro and macroeconomic impact organization in
number of ways. Amazon is one of the biggest retail firm but it faces number of challenges
because of increasing competition and changing business environment. There are number of
competitor of firm as explain in the report such as Apple, Myntra, Flipkart etc. and it follows
number of strategies in order to attract them and increase market share of firm even in time of
globalization. There are number of changes in profit as well as growth after recession as shows
in report and it will help in understanding the way in which it able to attract customers and
increase profit share. In the end of report explains the way in which it will deal challenges that
occur from pandemic and also preparation of Amazon for it such as firm continuous investment

will help in advance technology and supply chain management will help in increasing customer
satisfaction level.

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