E-commerce is hammering stores, shares a study appearing in RetailDive. Each e-commerce job kills four traditional jobs, and it may help close 30k stores in the next 5 years.
RetailDive excerpts:
E-commerce has been a net negative — an agent of "destructive destruction" — for the retail industry writ large, according to a new study from credit insurance company Euler Hermes. The study found that 56,000 stores, or 10.7% of the
Wells Fargo wants to become a technology company, shares today's WSJ, which mirrors the trend of many businesses in many industries. They are strengthening their technology--or risking being left behind. A similar trend is occurring in retail. But some retailers don't get it. Walmart infamously invested in Bonobos pants instead of a tech company, only to sell Bonobos recently at a loss.
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January 8, 2020
January 8, 2020
Are brands bypassing stores? A new survey says 'yes' they are: 40% of Americans shopped directly from a brand in the past year, according a Diffussion survey.
Shoppers are choosing to bypass stores because the brands are undercutting them on prices, and offering faster and cheaper shipping.
How are brands getting in front of customers? Answer: Facebook and Instagram. A shopper visits a retailer's website for brand X, then Facebook puts a tracking pixel on the shopper, and then ...
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January 7, 2020
January 7, 2020
Amazon threatens to fire critics who are outspoken on its environmental policies
https://www.washingtonpost.com/technology/2020/01/02/amazon-threatens-fire-outspoken-employee-critics-its-environmental-policies
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Are websites a waste? I'll thank they are and I'll explain. But first, it's important to note that websites are different from platforms. A website is something for which your business is solely responsible. A platform is a digital service to which you subscribe that you are not solely responsible. You may add content and pictures, etc. but you do not manage the technical aspects. You likely use platforms including Facebook, Instagram, Amazon, and Airbnb.
How are websites( and computers) possible? Code. Who invented code? A British man named Tony Brooker. He just passed away. He gave us high-level coding language in the 1950s. Seventy years later Amazon, Google, Facebook and most American tech giants rely on it for massive profits. Thank you, Tony.
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December 13, 2019
December 13, 2019
Thank you, George, for helping make retail easier. And thank you IBM for paying him to hone it.
39% percent of all e-commerce sales were made on a smartphone on Black Friday, according to research from Adobe reported on by Andrea Lillo in HFN magazine.
And this growth came at the expense of in-store traffic: "In-store traffic on Black Friday fell 2.1 percent compared to last year, Newsday reported this morning, citing RetailNext, a San Jose, Calif.-based retail analytics company. "
Ms Lillo goes on to share that big e-commerce companies, such as Amazon, are beating up indie stores on this ...
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Many of us will be with our family and friends this Thursday. I'll take a moment then to give thanks to all the indie retailers that enrich our communities. I'll thank the indie designers that fill our stores and homes with beautiful products.
When I'm in my friend's kitchen, someone may say they need a new spatula from Amazon, or after dinner ask Alexa to turn on Amazon TV. When they do, I'll consider those actions in light of the holiday. I'll share why this is important to consider.
Market buildings are looking down the barrel of a gun. To find out why, check out my article in this month's Tableware Today.
THE LAST WORD
CHART YOUR FUTURE BEFORE BIG TECH DOES
by JASON SOLAREK
Market buildings are starting to take digital seriously. Why, finally? Because Amazon is nipping at retailers’ heels? No. Because Zola is stealing indie stores’ registry business? No. Sadly, the main thing that’s brought markets up to speed has to do with their own dollars and ...
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November 16, 2019
November 16, 2019
When we make products overseas, are we long-term weakening our businesses and our communities, and in fact strengthening the product’s country of origin? Today’s WSJ makes the point that foreign countries that produce the goods are the ones gaining high-tech jobs and therefore the high-flying lifestyles. As you may have heard, every day a new person becomes a millionaire in China. Can we say the same in America? Historically, businesses and economists approved the strategy of “innovate here, ...
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November 2, 2019
November 2, 2019
Amazon is Winning Because of: Bots
Amazon most likely has lower prices than most stores--including yours, shares Retail Dive.
Excerpt: "With the holiday sales season underway, Amazon is pricing 20% below other online retailers on average in key product categories, according to a study by Profitero."
You may ask, how is Amazon wining this online price war? I'll share my answer: Bots. Amazon has unleashed an army of bots to crawl and scrub all of your data and websites, and report it back to Amazon ...
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October 28, 2019
October 28, 2019
Big Macs and Mickey going digital:
Burgers and fries are going digital via McDonald’s investment in AI technology, shares today’s Times. In the far right article, we learn about Disney+, a new digital media platform. And for good measure, an article below that shares how the U.S. military needs secure computer chips.
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October 27, 2019
October 27, 2019
The Head of the Rudin Center for Transportation Policy says it’s now easier and cheaper to order things online than go in the store.
The Rudin Center for Transportation is part of New York University, and is named after Lewis Rudin—the developer of the wholesale building 41 Madison.
If online is better according to the head of the Rudin Center, what is the Rudin family—which owns 41 Madison—doing to help tenants and visitors adapt to this fact?
This holiday season more shoppers will shop online ...
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October 25, 2019
October 25, 2019
Amazon sales are up 24% last quarter. How much are your sales up?
If they’re not up 24%, it likely means that Amazon is taking your customers and your neighboring business’ customers.
Do you buy from Amazon at home? Or for your store? If so, you may be helping sharpen your executioner’s sword by 24%.
While the Times paints the quarter as a mixed bag, I believe this is great news for Amazon. It also shares that Amazon’s advertising revenue is up 45% and that Amazon Web Services Is up 35%. Do you...
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September 26, 2019
September 26, 2019
CNBC shares that "by the end of this year, 12,000 stores are projected to close, and Amazon stands to benefit."
Bridge's Product Share page echoes this prediction and attributes it to how hard data is to deal with:
"In the last 20 years, there has been little change in how stores add items to their website....This has produced a clear winner: Amazon. Amazon has cornered 47% of the e-commerce market by adopting different techniques and business models to add hundreds of millions of items to its ...
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September 2, 2019
September 2, 2019
Macy’s bought the retailer Story then closed Story’s flagship location. Hmm. The flagship’s door sign (shown here at 10th Ave. and 19th st. in NYC) says Story has 35 other locations. Notably, those are all inside other Macy’s. Aka: Macy’s likely bought Story to rearrange and/or fill excess space at its other mall locations. Apparently, Story wasn’t appealing enough to have two locations in NYC—which is not a good sign. I predict Macy’s purchase of Story was inflated, and likely a mistake. I ...
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August 21, 2019
August 21, 2019
Scott Galloway and Kara Swisher shared their ideas about tech, politics, and life last night at Convene’s Liberty Place location. I’ve read Scott’s book The Four and like it so much that I shared 40 copies with retailers. I also recommend Scott’s recent book The Algebra of Happiness which is about life in general (and not as business focused as The Four).
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