The retail landscape is evolving rapidly, with small businesses struggling against larger corporate competitors, exacerbated by trends like remote work and shifting consumer preferences. Brick-and-mortar stores face challenges from declining foot traffic as consumers increasingly shop online. Amazon has thrived during the pandemic, seeing profits grow by 200%, yet emphasizes the importance of refining its cost structure and operational efficiency in addition to maintaining growth. This reflects a broader trend of consolidation in retail, where smaller shops find it difficult to survive in an increasingly competitive environment.
Smaller mom-and-pop shops are struggling due to competition from larger corporations, while brick-and-mortar retailers face declining foot traffic as online shopping rises.
Amazon profit surged 200% since the pandemic, but CEO Andy Jassy emphasizes the need to improve cost structure and operate margins beyond just growth.
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