Monday, May 15, 2017
A tidal wave rolls onto land then recedes leaving wreckage. This tidal wave is surging again and again and the retail industry is helpless to stop it. The public has been well trained by Amazon and other online vendors to look first to the internet. As a result, store owners are looking at their market shrink by the month. It is a perilous time to be in physical retail. One has to offer goods that are not widely available on the internet or must be ready with pricing and service that are unobtainable online. That is hard to do. The public's relationship with retailers has fundamentally changed, and it is unlikely to be restored to what it was before. Something dramatic will need to happen to slow the public from using online. This could be a pervasive malware the likes of which is plaguing Europe at the moment. But even that might not be enough to halt the wave of store closures.