Is Amazon taking down the retail business?
Sure looks like it…
More than 8,000 U.S. brick-and-mortar stores could close this year, twice the number as 2016, analysts say, due to plunging sales. Among the chief victims are retail workers: Amazon says it’s adding 100,000 employees, but MANY more than that have lost their retail jobs in recent years. One in 9 Americans work in bricks-and-mortar retail, almost 16 million people in all. — via Axios
Can Amazon kill retail?
From Axios: Without wide-scale missteps on its part, Amazon is unstoppable. It and its countless e-commerce cohorts will continue to grow meteorically, entirely at the expense of traditional brick and mortar retail. Amazon has well over 500 million products for sale. Walmart, Amazon’s next nearest competitor, hopes to be selling 200 million products by 2020. By then, Amazon may well have 1 billion products for sale.