It took over 100 years for 'mail order' to reach 10% of retail sales - but when eCommerce arrived it took just 10 years.
You don't need me to tell you that seismic change in consumer behavior has already happened.
At no time in the history of retailing, or any other business sector for that matter have companies had free and easy access to potential consumers, and not just those in the home territory but also around the world.
Some on the struggling high street chose to simply add a website rather than look holistically at how this new medium could be used to improve the relationship and experience with its customers.
They thought that having a website was innovation, they thought 'click and collect' was innovation, they thought that putting an iPad in a store so someone who had made the journey around the one way system, then fought for a hard won car parking space that cost them the best part of £5 for a few hours was innovation.
They also thought that asking for our e-mail address so they could send us the receipt and add us to their spammy 'buy this' newsletter was innovation.
In the 1980s, the photography industry was beginning to shift towards the digital. With Kodak inventing the digital camera, one would think that turning to digital would be the next logical thing for Kodak.
The company jumped on the digital trend bandwagon although it was a late adopter while still selling analogue cameras and film. Kodak developed a new business direction — printers.
The company focused on the printing industry building expensive printers and inexpensive ink while its competitors were making money from selling expensive ink.
"As it turned out, digital cameras were not the biggest fish in the pond"
Smartphones took the world by storm and digital cameras producers saw their sales quickly spiralling down. People went from printing pictures to storing them on digital devices or sharing them online on social media platforms.
Consumers are now dictating when, where and how they engage with brands, and they’re beginning to use this newfound power to voice their concerns and boycott brands that don’t share their values and belief.
Whilst your still thinking 'Macro' they operate 'Micro', and when aggregated this is akin to a powerful Tsunami of competition eating away at your business day in, day out.
Just as all those unknown online retailers nibbled away at traditional retail over the last 25+ years, 'social commerce' will do the same thing for your eCommerce website only quicker.
And today you're trying to work out where AI sits in the macro........
I do 'growth strategies' - but with efficiency and scalability built in.