In a recent op-ed over at The New York Times, University of Chicago economics professor Austan Goolsbee sounded an alarm around customer lock-in, the phenomenon where consumers rely on a single retailer for products or services because of high switching costs.
Why Amazon's loyal subscribers didn't worry about tech glitches on Prime Day.
At the stroke of noon (Portland-time) on July 16, Amazon officially launched Prime Day, their annual attempt to digitize the stampede-inducing sales of Black Friday. Their efforts proved all too successful, with hordes of bargain-hunters trampling Amazon's servers and promptly flattening the site.
Acquisition shows the growth of relationship commerce.
Retail is changing, and it’s changing fast. From the robots that are helping us manage supply chains; to the sensors that drive self-checkout, to the algorithms that are helping optimize our inventory decisions, there’s not one part of the industry that’s not being transformed by technology.