Amazon is causing more fear in corporate America than the Trump administration, according to an article in Bloomberg by Julie Verhage. And the housing market is no exception to this.
The online shopping giant is pushing its way into other top industries, striking fear into executives that never viewed Amazon as their competition. But if Amazon has its way, its name will be listed up there as competition with Best Buy, Blue Apron and even Zillow.
From the article:
Looking at the last 90 days of earnings calls and other corporate events such as investor days, a trend emerges. Amazon comes up a lot. It was mentioned a staggering 635 times over that time frame, while President Trump came up just 162 times and wages were discussed 111, according to data compiled by Bloomberg. It’s become even more pronounced over the past 30 days, with Amazon garnering 165 mentions compared with 32 for Trump and 22 for wages.
In nearly rapid succession, Amazon revealed it was rolling out its own version of Best Buy's popular Geek Squad service, which offers in-home product installations and repairs on electronics and appliances. Shortly thereafter, it filed for a meal-kit trademark, encroaching on Blue Apron’s territory.
And to top it all off, in a less public move, Amazon rounded it all out by quietly creating a “Hire a Realtor” webpage. The company never commented on the real estate venture and took the page down as quietly as it put it up.
The article noted that not all comments on Amazon are bad, with some executives offering the company up as an example for how the market is changing or to point out they have partnerships with them.