its not a myth
online is killing 'in-store' - because store operators have a much higher cost per unit sold. ie. they cant tolerate the loss of marketshare because their overall operating margins are much lower - because they have to pay rent, rates and higher staff costs
thats why US retailers are generally getting hammered atm - the ones that arent have generally set up good online presences to supplement stores - to keep overall marketshare - or they have a unique trendy brand that has some element of fad appeal - eg Lululemon. its why Nike and UnderArmour are surging while Footlocker is under pressure.
its why US 2nd grade and lower shopping mall valuations have collapsed - their big 'anchor' tenants no longer bring in enough traffic to keep the malls alive
the other thing is that its not a ubiquitous measure. if 10% of all sales globally were pure online - that can still mean its 90% in one given product type/category
thats the other thing thats crippling many brick and mortar retailers - eg in fashion - general fashion retailers typically get a lof of churn in things like undies, socks, bras etc - but 'padded' their profits on the high price 'impulse items like women's handbags and designer shoes
but those non differentiated products like undies and socks are favourite to get bought online - very high % of sales - which stops people going into store - so they dont get the impulse to buy the new handbag
as with BUD and all things finance - its all in the detail
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