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ms.akkineni
ms.akkineni
11/23/2017 2:14:05 PM
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Platinum
Re: A lot of "sunk costs" in older network tech...
@DHagar:

Very interesting question. And questions are very useful and also sign of working thought process. I agree with you on the follow up discussion about the need to ask new questions to keep discovering new answers. And this is an ongoing process in the journey of discovering and rediscovering.

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Ariella
Ariella
11/23/2017 9:25:25 AM
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Author
Re: A lot of "sunk costs" in older network tech...
<If there was a small grocery store that could do that, I would welcome giving them my business.> @elizabethV In my neighborhood, there are a few independently owned grocery stores that are smaller chains that offer delivery service for $5. For another $8 or so they'll also shop for you, meaning a staff person will go around the store, collecting everything on your shopping list. So you can get the same convenience, and many people do use it, though it comes at additional cost.

I've never used it myself because I live so close to the stores and like to pick out my own produce, etc. But someone else on my block walks over to shop but pays for delivery.

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elizabethv
elizabethv
11/23/2017 9:00:19 AM
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Platinum
Re: A lot of "sunk costs" in older network tech...
@DHagar - Every store is in trouble. Most of us carry around a smartphone in our pockets. That means we can stand in any aisle, in any store in the country, and price shop. We can see if Amazon has the product cheaper. Or if there's another store that sells it cheaper. We can choose not to buy something, because it's easy to see if we can save money buying it elsewhere. Price Matching is almost a requirement if you want to try to compete. It's those tiny little devices that are the biggest threat to brick-and-mortar stores. 

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elizabethv
elizabethv
11/23/2017 8:50:40 AM
User Rank
Platinum
Re: A lot of "sunk costs" in older network tech...
@Ariella - Exactly! I used Amazon Prime Now yesterday to do my grocery shopping. The day before Thanksgiving is traditionally the busiest day of the year for grocery stores. I didn't step foot in a grocery store yesterday, I just had it delivered. And while I'd love to support someone other than Jeff Bezos, I have such little time any more, I need someone that can deliver my groceries. If there was a small grocery store that could do that, I would welcome giving them my business. As for holiday shopping, I have it all done. And at least 95% of it was through Amazon. Without a doubt they are completely changing the face of retail. 

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DHagar
DHagar
11/22/2017 6:00:24 PM
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Platinum
Re: A lot of "sunk costs" in older network tech...
@Ariella, very true.  We have to take into account the realities of the "digital economy"!  So we will have to find new digital models for small business.

Very true on toys - even ToysRUS is in trouble!

Amazon clearly provides new "valuable" channels for distribution.  I believe the future will not be either/or but some new hybrids that will encourage and support innovative growth while benefiting from the unique capabilities of the large players like Amazon.

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Ariella
Ariella
11/22/2017 5:55:52 PM
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Re: A lot of "sunk costs" in older network tech...
@DHagar I's true that Amazon doesn't create anything. It is really just a means of connecting buyers and sellers. For buyers it offers the ultimate in transparency on costs and convenience for those who ar enot close to physical stores. For those in bricks-and-mortar, though, it is very hard to compete. But I think that just as we have to adapt to digital in other walks of business, we have to accept that the old store models are no longer sustainable either. It may be sad, but that's the way of technological progress. Yes, there are still a few small bookshops that can survive because they're not competing on price but on service, including gift wrapping books . I see some small toy stores work out that way; they get the premium prices for premium services, which works, so long as your location is convenient for customers willing to pay for that.

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DHagar
DHagar
11/22/2017 5:53:04 PM
User Rank
Platinum
Re: A lot of "sunk costs" in older network tech...
@Ariella, good examples!  That is why I believe the internet and social media provides an "affordable" platform that is valuable to exposing small business and giving them alternative channels at lower cost.  The apps and social media will be another channel.

We actually want both to succeed, don't we?  The convenience of the Amazon distribution system but the innovation and market place for entrepreneurs and small business.

I believe that is where Huawei and other international companies recognize and may be developing platforms that create a better balance.  Maybe that is what the new models for Industry will provide - better suited to a global economy?

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DHagar
DHagar
11/22/2017 5:48:26 PM
User Rank
Platinum
Re: A lot of "sunk costs" in older network tech...
@elizabethv, good example - but Amazon will not be a sustainable model for all business - I do not believe.  I share with you their convenience as a "deliverable" platform - but you won't have many competitors that will be able to put together that supply chain.

I like their convenience as well, but recognize you still need "content" providers and goods for Amazon to deliver, or they have no value.

I also remember that Amazon did not "create" anything and in fact drove many smaller book distributors out of business.  So I am careful to look at the net sum.  Our economy cannot afford too many of those giant elephants or we will lose our competitive edge?

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DHagar
DHagar
11/22/2017 5:44:03 PM
User Rank
Platinum
Re: A lot of "sunk costs" in older network tech...
@elizabethv, I fully agree.  That is where transformation truly takes place!

I think that is the great contribution technology, and the Internet, have made in providing a feasible platform to make small business competitive with large corporations.  The aggregated value empowers small business to succeed, and even thrive!

All big corporations were small innovators at one time!

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Ariella
Ariella
11/22/2017 10:45:03 AM
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Author
Re: A lot of "sunk costs" in older network tech...
@elizabethV Very true. I do feel it's important for the little guy to have a chance, and that is increasingly difficult. I, too. will more quickly turn to Amazon for something I need than look around in my local shops -- unless I need it right now -- because it offers the best pricing and makes it easy to do everything from my keyboard. 

This is really changing shopping dynamics. That's why the WSJ just ran an article with the headline How Amazon Can Make or Break Holiday Retail

A surge in holiday shopping online has made Amazon a kingmaker. Amazon is expected to drive as much as half of all U.S. retail sales growth this year during the holidays, according to Morgan Stanley estimates. About 42 cents of every dollar spent online year-to-date went to Amazon, up from 38 cents during the holiday period a year ago, according to Slice Intelligence, which tracks a panel of more than 5 million U.S. online shoppers.

With a small product lineup, "it is tough for us to create visibility for our products in stores like Target and Best Buy," says Vikas Gupta, co-founder and chief executive at Wonder Workshop, a 5 year-old startup based in San Mateo, Calif. The only way to do that would be to invest more in displays, and that is "very hard for a small company."

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