Wednesday, July 24, 2019

Amazon Has Destroyed US Retail -- SecTreasury Mnuchin -- July 24, 2019

SecTreasury Mnuchin says Amazon has destroyed US retail

I'll start shopping on-line at Target, Walmart, Sears, or any other retailer if that on-line retailer:
  • offers the same number of line items as Amazon; including Amazon's full inventory of books (Barnes and Noble does not offer as many book selections as Amazon; and, that's BN's core -- selling books)
  • offers the same no-questions asked for any return; full refund as does Amazon;
  • offers one-click buying;
  • offers same day delivery; sometimes one-hour delivery;
  • offers a credit card with 5% cash reward loyalty benefits
  • offers "unlimited free" video 
  • offers unlimited access to 3rd party sellers 
  • gladly accepts almost any credit card
  • offers "complete" security (remember the Target breach? probably the biggest retail security breach in history); to the best of my knowledge, Amazon has never had a security breach
  • knows me well enough to "target" me with ads I appreciate
  • sends me products for free if I promise to review them
  • free shipping
  • at least "meets" Amazon pricing
The SecTreasury suggests breaking up Amazon. Perhaps Amazon One will sell products beginning with the letters A - L; and, Amazon Two will sell products beginning with the letters M - Z, and the two companies need to be completely separate companies.

Amazon accounts for less than 5% of total US retail sales.

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