Editor: Philip Ragner | Tactical Investor
Amazon’s Alexa Is KILLING It’s Competitors
Amazon’s Echo was named the best smart home device of 2016 by CNET, outperforming competitors such as Nest and Phillips. Alexa, the virtual assistant that powers the device, also won top honors at the 2016 Consumer Electronics Show, leading major tech publication Wired to declare that “the world is next.” Even major companies like Ford and LG have integrated Alexa into their products.
Experts attribute Amazon’s success with the Echo to the company’s marketing strategy, which focused on emphasizing the device’s capabilities as a speaker with some smart voice commands built-in, rather than overselling its potential like Apple did with Siri. Over time, Amazon carefully added new capabilities to Alexa, which now boasts thousands of commands that allow users to order an Uber, shop on Amazon.com, and access the news.
In a press release, CEO Worldwide Consumer, Amazon, Jeff Wilke, announced that Echo and Echo Dot were the best-selling products across Amazon in 2016, with millions of new customers being introduced to Alexa as a result. Wilke credited the dedication and hard work of customer service, transportation, and fulfilment associates, along with carrier partners, for making the holiday season possible for customers. Full Story
Amazon’s Alexa Is KILLING It’s Competitors
Malls are doomed because Of Amazon?
According to a recent report from Credit Suisse, between 20% and 25% of American malls will shut down within the next five years. This would be an unprecedented decline in the nation’s history, as the number of malls has steadily increased since 1970, from 300 to 1,211 today. However, if the report’s predictions are correct, this trend is about to sharply reverse. As malls close down, the report estimates that online sales will grow from their current level of 17% of retail sales to 35% by 2030. The retail bubble caused by years of new mall construction has resulted in an excess of stores, exacerbating the problem. Full Story
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