Restaurants don’t have to compete with the Internet. Or do they? You can order Internet pizzas at Pizza Hut or Domino’s Pizza at 50% off. You can compare restaurant prices online. But, let’s agree that restaurants are not affected by the Internet as much as brick and mortar sales.
Hardware stores are affected by the Internet, but have the advantage of providing lots of items that are needed urgently.
Convenience store sales have been growing. Convenience stores offer “convenience.” Prices are not as sensitive as the prices found in other types of brick and mortar retailers.
Radio Shack is closing more than 500 stores. Many products found at a Radio Shack are not urgent and can be purchased on the Internet at substantial discounts.
Sears, Staples, and other retailers are scaling back their retail presence in favor of more online sales.
Lots of people buy their clothes online and LL Bean is doing very well. Those who sell unique clothing or jewelry can still succeed.
It’s not that all retail stores are going to close down. The retailers that succeed are those that can adapt to the Internet world.
Stores that can provide additional services, a unique selection, and convenience not provided by the Internet are most likely to succeed and thrive.
Well, I really shouldn’t use the word cheats. Amazon.com is just very smart.
Amazon.com is constantly changing their prices. They change 20% of their prices at least once per day and more than 1% of their prices at least four times per day.
Amazon.com constantly monitors the prices of their competitors. Looking for a television or a pair of sneakers? Amazon.com is scanning the competitor websites and automatically adjusting its price (up or down) depending on the competition. … and if you need sneakers or a television, Amazon.com probably has it in stock at a local warehouse.
Read the entire article at:
The price is right-then it’s not (Internet Retailer)
Now remember we said that restaurants are not affected too much by the Internet?
Square (the mobile payment company) has recently acquired Caviar, a food delivery service. For $9.99, you can get food delivered from 50,000 high-end restaurants.
So, food delivery on the Internet is the future.
Read more about restaurant deliveries by Square at:
Square Adds Food Delivery (Wall Street Journal)
Read more at:
Deal for ‘premium delivery’ service worth roughly $90 million, report says. (Fortune Magazine)