February 7, 2019
Wanna see the future of retail? First, look back. Look back at the newspaper industry and its hard, swift fall over the last 15 years. Facebook (and other tech platforms) replaced newspapers across the country as the world’s information and advertising platforms. General lesson: platforms replace individual players. Next up: Amazon’s platform is going to substitute national brand (and retail) names with its private label business. Don’t like it? Amazon doesn’t care. It owns the world’s largest shopping platform. And it will make you its employee by almost force. You will “choose” to sell on the platform but really have no other choice. It forced Nike to do this last year, and many indie tabletop brands have caved, too.
My concern is we have an industry so focused on today’s orders that it doesn’t see the iceberg it’s heading straight towards.
Curious about how I reached this conclusion?
Check out this article about the newspaper industry vs tech here: https://stratechery.com/2019/the-buzzfeed-lesson/
Ps- thanks to Randy James for sharing the Stratechery article