Chinese E-Commerce Outlets Will Soon Destroy Their Western Competition
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Sometime ago, I wrote about how the decline of traditional retail outlets in Western countries, especially USA, started in the 1990s. While that timeline might seem too early to many readers, that post contains some examples of how many physical retail outlets (especially large and medium sized chains) were already destroying themselves. In other words, the rapid rise of E-commerce in past two decades was due to it filling a slowly developing vacuum rather than actively replacing physical retail. If you still find this hard to believe, East-Asian countries such as China, Japan, South Korea etc have a very robust E-commerce sector coexisting with thriving physical retail outlets. The same is true in some West- and East-European countries. Though there are many proximate causes for the decline of physical retail in some Western countries (USA, UK, Canada etc.), they all arise from financialization of the economy.
Chinese E-Commerce Outlets Will Soon Destroy Their Western Competition
Chinese E-Commerce Outlets Will Soon Destroy…
Chinese E-Commerce Outlets Will Soon Destroy Their Western Competition
Sometime ago, I wrote about how the decline of traditional retail outlets in Western countries, especially USA, started in the 1990s. While that timeline might seem too early to many readers, that post contains some examples of how many physical retail outlets (especially large and medium sized chains) were already destroying themselves. In other words, the rapid rise of E-commerce in past two decades was due to it filling a slowly developing vacuum rather than actively replacing physical retail. If you still find this hard to believe, East-Asian countries such as China, Japan, South Korea etc have a very robust E-commerce sector coexisting with thriving physical retail outlets. The same is true in some West- and East-European countries. Though there are many proximate causes for the decline of physical retail in some Western countries (USA, UK, Canada etc.), they all arise from financialization of the economy.