June 6, 2018 (Windy Hill Beach, South Carolina) — Fortune magazine published their annual “The Fortune 500 Issue”, which ranks the biggest companies in the US. The “Largest U.S. Corporations” ranking is based on annual revenues. By that measure, Walmart, Exxon Mobile, and Berkshire Hathaway are the three largest. But there’s dozens of charts showing other metrics too. For example, when it comes to companies’ market value, Apple and Amazon top the list. Today’s Wall Street Journal reports that Amazon’s market value topped $800 billion yesterday. The thread title here is from Fortune’s article discussing Amazon.
That phrase “total retail dominance” doesn’t ring true to me. Oh, Amazon has done a great job in these early years of eCommerce, and it is surely well-positioned to prosper in coming years as well. But will Amazon probe to be smarter than, say, Sears was when it failed miserably to take advantage of the same wave that Amazon has ridden? As best I can tell, Amazon’s leadership is not smarter than Sears’ leadership, and competitor(s) will emerge and will humble the wannabe total retail dominance folks.
If you’re a merchant, you can do something today that Amazon has been too slow to do yet. Maybe you’ll eat Amazon’s lunch in your own niche … for starters!
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