In this new video L2 Founder Scott Galloway speaks about winners and losers of the retail industry. Amazon is obviously a winner, but that does not make traditional stores a loser. In the U.S., 94% purchases are still being made in brick-and-mortar stores. Amazon’s investments in fast delivery at low prices are not chipping away at traditional retailers’ revenues; they are destroying other online players such as Gilt, Fab, and Overstock.com. Multichannel retailers such as Macy’s, Sephora, Williams-Sonoma, and Nordstrom have joined Amazon in the winners group. Instead of looking at online as an alternative sales channel, these brands have looked at it as a way to drive consumers to their stores.
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