Traditional bricks and mortar retailers are suffering as people switch to cheaper, more convenient ways to shop.
Here’s a question for anyone who owns or runs a business;
Q. What do you do if your competitors are carving into your margins and market share with cheaper prices and more convenient services?
A. Look at your cost base and search for efficiencies that will allow you to reduce prices?
B. Work to create a better consumer experience?
C. Investigate whether there are alternative goods or services you could offer to complement or replace the loss-leading lines?
D. Lobby the government to impose special duties, taxes and levies on the consumers who purchase from your competition?
If you chose option D, congratulations! You are officially a member of the crony capitalism class.
Welcome to the internet and the 1990s, Australian retailers, spoiler alert; get to see Bowie, Prince, George Michael and Motörhead in concert at the next available opportunity.