Larry Downes, writing for Forbes prophesizes Best Buy’s demise over the next few years. More than that though, he drives home what I believe will happen over the next decade:
Unlike traditional retailers, [Amazon] recognizes its own potential disadvantages and innovates ways to overcomes them. The company has no retail locations to pick up merchandise, but it ships instantly, often for free. It has no on-site sales experts to answer questions, but the pages of its products are filled with videos, FAQs, and customer reviews and answers.
The past 15 years have been about retailers simply getting on the internet. The next 15 will be about their industries getting shaken up by an internet-first approach. They can choose to do it themselves or be overtaken by someone else doing it better. The first step though, is to get out of the mindset of selling thing in stores. You’re just selling things – the medium is completely different.