Best Buy shuttering many of its “big box” stores, rethinking business strategy as customers flock to Amazon. And one day it will be Amazon’s turn, but that’s how the market is supposed to work. When the Big Box stores were gobbling up the retail landscape there were cries for government intervention, cries that were heard in NYC, Chicago and probably San Francisco, but now they’re mostly gone – the consumer will speak.
When I was a mere lad, the big concern was conglomerates. I remember a cover story in Newsweek on the subject in which they went on and on about ITT owning Scotts Lawn Care and rental car agencies and warned that within a few years, probably around the same time as the arrival of that ice age they were so worked up about back then, a few conglomerates would own the world. Turned out, conglomerates weren’t very good at running multiple businesses, the companies were split up and the economy went on. We’ll survive the demise of the Big Box, too.