I look forward to a day when we can all return to family (or family) gatherings again. I hope we are not going to be facing another wave of infections in late November and December. But history suggests that it’s very likely to happen just like it did in 1919-1920. It won’t be just four or five major retailers going out of business, it’ll be every retailer which can’t figure out a way to compete with Amazon and eBay.
;–)
We’ve seen how Amazon killed bookstore chains, how Toys ‘R Us killed toy stores and then in turn got killed by Amazon, how Walmart killed downtown businesses, and how Federated bought up most of the department store chains in the US and turned them into Macy’s and Bloomingdales before teetering on the brink of bankruptcy itself.
We’ve seen the comically stupid combinations of Sears/Kmart and AOL/Yahoo! The pairing of two nearly moribund brands won’t solve any problems and will only prolong the suffering of the employees.
We’ve seen how the news industry is slowly collapsing and failing in its primary task of providing accurate, factual information. We’ve seen the consolidation of industries like high tech, automobiles, entertainment, internet providers, medical, pharmaceutical, farming, and banking. When things begin to return to ‘normal,’ we will have even fewer choices available to us.