The dirty secret Macy’s is hiding.
It owns 33% of the internet “cloud,” 49% of US e-commerce, and is elbowing into other sectors.
Only about half of retail is under attack from e-commerce, but that half is getting crushed.
The collapse of brick-and-mortar retail becomes a real-estate question.
Even the biggest.
I’ve been doom-and-gloom on brick-and-mortar retail. But I haven’t been nearly doom-and-gloom enough, given the events of the past seven days. Includes my interview with The Financial Exchange, WRKO Boston.
The Painstaking Relentless Collapse of Brick-and-Mortar Retail.
Pundits sent back to the drawing board.
They no longer shop till they drop.
Stunning acceleration of a trend.