With Amazon dominating the both the retail industry and the stocks at the moment, economists frequently compare the industry giant to other mega companies and the results are surprising; despite a larger than life customer base and a widely recognized brand, Amazon, and it’s profits, pale in comparison to some other, less acknowledged, industry giants.
In an article by USA Today, Erich Joachimsthaler, CEO of brand consulting firm Vivaldi Partners Group, explains why Amazon and its rapid growth, is able to influence the retail industry more than its competitors, despite its smaller profits:
“Three major trends affect business: globalization, demographic and technology. These tectonic trio of shifts favor Amazon and its business model.”
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