It is true that online shopping giant Amazon has already picked up its supreme position in the world of e-commerce sites. It has disrupted other similar business models, too. 

But that doesn't necessarily mean opportunities have fallen short for all players in the e-commerce sector.

Baird Equity Asset Management recently released its newest whitepaper, popularly dubbed as "The Amazon Effect," which portrayed the changing consumer space alongside the thoughtful approach to winning such opportunities with flying colors.

"As mid-cap equity investors, we can leave the question of Amazon’s value to others," the whitepaper says. "But we are left navigating this challenging competitive backdrop across the various consumer verticals that are or are not perceived to be within Amazon’s grasp."

The authors write that Amazon has intensified competiveness by lowering the switching and search costs for consumers. 

"Moreover, as more consumers increase their search and shopping habits on Amazon, Amazon increases its leverage and extracts the economics from its own vendors," the whitepaper says. "These threats and risks are real and we are investing accordingly."

Baird suggests that to address the risk posed by Amazon’s ambitions, they will continue to proactively avoid Amazon competition where the challenge is clearly evident.