In a world where low costs are the main motivating element for a big part of customers, big box shops have found a significant grip in lots of markets all over the world. On the surface, this can look like a win for individuals who need access to cost effective goods, however the truth is that the practices of the storage facility giants can stifle competition and create monopolistic environments that end up harming the neighborhoods they claim to serve.
As more shopping relocate to the web and the huge box stores continue to improve their operations with the aid of huge data, countless mom-and-pop shops are continuing to go under due to the inability to take on the huge resources of this corporate competition and the suppressing effect of regulations that these giants lobby for.
In this week's episode, Phil and Danielle discuss the principles and ramifications of buying these huge box retailers, and what their success means for the business neighborhood at big.
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Not everyone goes to only Amazon, or only Walmart, or only Dollar General or only Costco or only another venue so they are all competing against each other. I purchase where I get the best value for my money. The smaller outfit needs to figure out how to compete or move into an area where they can compete like Shopify. Making laws to stifle competition is anti-American and harms innovation.
You don’t discuss the store owners who are the local large property owners driving exotic cars with lots of rental income properties and still pay their employees minimum wage with no health insurance & no 401K. I would rather have a Walmart where employees get benefits and I can invest and participate in the ownership at a small stake. To each their own opinion.