Its China team “saw increasing patterns of fraud, counterfeits and unsafe products.” But US consumers have no clue where the sellers are and where the products came from.
Ecommerce and globalization of retail crush distribution channels, wholesalers, local retailers, large retailers, prices, and margins.
Ecommerce is an existential threat to Walmart, and it’s furiously trying to get on top of it, whatever the cost may be.
“Amazon’s plunge into the $800 billion US grocery industry posed an existential threat to rivals”: CNN, August 2018. So let’s see.
Prudent cost-cutting move artfully dressed up as response to local politicians that had railed against the $3-billion corporate welfare package.
It gets costly when the entire market depends on a handful of over-hyped mega-caps.
It owns 33% of the internet “cloud,” 49% of US e-commerce, and is elbowing into other sectors.
Brick & Mortar Meltdown: Dog of the Dow on 3rd Day in the Dow.
Amazon reports loss, stock jumps15%, market cap jumps $25 billion. Party on.
Superb, funny video on these companies & their mixed future.