Critics who think Amazon is killing retail should talk to the millions of businesses/products that were rejected by retail gatekeepers and only exist today because of Amazon’s ‘infinite shelf space.’
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A retailer (e.g. Walmart) had to pass the initial survival threshold by offering a selection of products that consumers want. But once passed, the gatekeeper system maximizes wealth and power of retailer & vendors - not economic best interest of consumers.
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What we’re seeing today is one of the greatest wealth transfers in history from big companies like P&G to thousands of small brands as the (Amazon) market(place) removes the fitness-function-distortion of gatekeepers and passes voting power into the hands of consumers.
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A time may come where Amazon is stifling innovation, but we are only seeing the beginning of what’s possible with a true marketplace for products. Stopping this redistribution of wealth and power now would be a colossal mistake.
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Final thoughts: biggest threat to continued innovation is Amazon’s ad platform. Once marketers start gaming system, evolutionary process gets extremely distorted. The purpose is to give newcomers a chance to get noticed (otherwise too far down in rankings)...
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...since it is otherwise ~impossible to overcome incumbent reviews and rankings. One option is for Amazon to make reviews ephemeral - reviews are archived after one year. This ensures that reviews are current and that new SKUs have a shot at competing.
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been setting up a new home lately and it's astounding how many new (amazing) products there are out there. https://thewirecutter.com/ has been really helpful
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It’s an awesome site for surfacing all of these small innovative brands that have come out.
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While there is wealth transfer from Big CPG brands to small, there is also wealth accumulation by Amazon (obviously Bezos’ wealth came from somewhere).
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have to disagree with wealth transfer from p&g to small brands. when consumers have so many choices, brands matter more, not less. when there are 3 things, u pick 1 out of 3. but among 1000, u pick what u know (eg p&g). also transfer is from advertising agencies to amazon
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@patio11 waddaya think? The reverse of the uber effect u astutely noted (turning 10, 000 millionaires into one billionaire IIRC)Thanks. Twitter will use this to make your timeline better. UndoUndo
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