If you haven't heard of the Amazon Effect, you haven't been paying attention. Amazon is the world's largest online retailer, as well as a major cloud service provider competing with Microsoft and Google. The so-called “Amazon effect” refers to the impact of the digital market on the traditional business model, particularly in terms of consumer expectations and a new competitive landscape (Read, 2016). Traditionally, market competition has been about providing customers with a combination of selection, price, service and convenience. E-commerce has changed the game by offering inherently superior selection and convenience. Today's market is focused on customer experience, and physical stores still enjoy the advantage of immediacy and personal experience. The market of tomorrow will likely require innovation on both sides of the spectrum to keep up with the changing dynamics of technology and modern lifestyles. Say no to plagiarism. Get a Tailored Essay on “Why Violent Video Games Should Not Be Banned”?Get Original EssayAmazon provides an immediate and virtually frictionless shopping experience for customers; a market that traditional retailers struggle to compete with. According to The Economist, major department store chain Macy's planned to close 100 of 728 stores in 2017. Some 10,000 storefronts belonging to other chains in the United States were reported to have closed their doors that same year. In the same way that Walmart took over America by saving consumers money, Amazon is now taking over what seems like the entire world by saving consumers time. Plus, Amazon sets the standard for convenience, value features and extensive networking. A recent study conducted by SOTI found that 92% of shoppers prefer stores with mobile experiences as opposed to traditional brick-and-mortar stores (Grosman, 2018). Convenience is the top priority for customers today, and millennials are twice as likely to adopt new technologies and digital trends as previous generations (Read, 2016). Stores that offer e-commerce are not only more convenient for consumers, but often offer a better quality of service. selection and simplifies price comparison. For the retailer, e-commerce also has advantages. There are no costs associated with maintaining a physical store for completely online businesses such as Amazon. They can also accept orders 24/7, thereby increasing sales volume. It's also easy to advertise and much more accessible to consumers in many ways than physical storefronts. Unsurprisingly, it is much more difficult to build an e-commerce business on top of a traditional type business because it is expensive and requires the creation of complex websites and extensive management of shipping products to consumers individual, rather than mass shipments to stores. Millennials, however, have specific market behaviors and attitudes; and even though Amazon currently has the advantage of being the largest e-commerce company, it still competes with other retailers that offer online ordering services. According to a study conducted by Millennial Marketing, the six areas related to brand performance in which millennials place the greatest value are: the social circle (if the brand is part of the social circle close to a,.