What’s astounding many people: ecommerce growth is not leveling off, but keeps surging at blistering rates.
Another overvalued money-losing unicorn in a lo-tech ho-hum business wobbled out the IPO window and crashed.
In total, 2,000 tech, admin, and management jobs to be cut and offices closed around the country. In addition, one-fifth of Macy’s stores to close. Brick & Mortar Meltdown.
Another money-losing, cash-burning, over-hyped unicorn in a ho-hum low-tech business (bedding retailer) tries to make it out the IPO window.
Brick & Mortar melts down on mall owners. So “repurpose” malls into housing?
But even red-hot online sales cooled off late in the year as consumers turned sour.
Ticket sales plunged 31% per person on average since 2002. You can raise ticket prices only so much before the strategy backfires.
Ecommerce Knocked it Out of the Ballpark this Holiday Shopping Season, But Investments by Retailers Are Huge & Will Get Huger.
Amazon takes over the last mile and everything else.
Even in San Francisco: From a brand-new glitzy zombie mall to innumerable vacant storefronts.