@McKhenry No - I specifically explained how it is business model...

@McKhenry
No - I specifically explained how it is business model impacting. Sales volume is a key part of that ofc - but its s secondary item

online has basically gutted the centre of the retail continuum - its hit harddest general non differentiated retail large stores + strip shop smalls

the v biggest companies with exceptional buying power
- Walmart, Best Buy, Costco - have generally maintained market share and ability to lift same store sales

Overall online’s impact on retail as a whole is fairly similar to what it’s done to print media

its gutted the economics except for the top few incumbents with the resource and brand to both the ncorporate it while retaining whatever made them category leaders originally

thats in giant market like USA.

In Australia it hits everyone - that’s why djs and Myers are on their knees, same as Fairfax and foxtel

but that’s bushfire stuff - after they are gone something new will emerge that starts from a lower cost base, uses online fulfilment but still has the differentiated brand and a physical premise. It’s not going to totally die - just adapt - like amazon’s trying to achieve with whole foods

But you only have to pull the charts for all these to see
online’s utterly devastating impact over 6-7 years

when one chart in 10 is a winner - that tells you online is crushing physical retail - as a general rule