Rishi Taparia - Issue #60
This week we look at expected holiday retail sales numbers, predictions from Scott Galloway, Stripe going offline, Amazon’s foray deeper into hardware, a special personal announcement and more. Enjoy!
A very special announcement
On Thursday the 13th of September, my wife and I welcomed our son, Ishaan Sant Taparia, into the world! Our first, we are thrilled and are now getting used to caring for a new born! As a result, I may not be able to put out the newsletter as timely as normal, but I am going to do my best. I ask that you bear with me as I get used to fatherhood! :) Now on to this week’s issue!
Commerce
Retailers could ring up more than $1.1 trillion in holiday sales
Deloitte consulting is projecting that holiday retail sales are expected to top $1.1 trillion (with a T) this year thanks to strong consumer confidence, low unemployment and strong sales momentum going into Q4. That’s a lot of presents!
Watch Scott Galloway’s presentation on the future of retail
This week Recode hosted their Code Commerce conference. Scott Galloway, NYU Stern School of Business professor and retail ‘predictor’ of sorts had an entertaining presentation where he made the following predictions:
Amazon’s new headquarters will be in Washington, D.C.
Amazon will surpass Apple in market cap in the next 60 to 90 days and will never look back
Walmart will beat Amazon at groceries
Education and healthcare are the next best candidates for disruption
Amazon Will Consider Opening Up to 3,000 Cashierless Stores by 2021
Sometimes news just shouldn’t be news. In my opinion, this is one of those stories. I include it only to highlight just how much oxygen Amazon sucks out of the room. They dominate the mindshare (and have earned that right, sure), but this just made me laugh. Amazon is apparently considering a plan to open as many as 3,000 new AmazonGo cashierless stores in the next few years. Not confirmed. Not finalized. No real numbers. Amazon should just have someone report that they are considering opening 100 AmazonGo stores on Mars in the next few years and let that wave ride.
How Luxury Brands Are Honoring Their Heritage In The Digital Age
Long standing brands have built their reputation over decades (and sometimes centuries). Today, consumers across every demographic demand that luxury brands translate their longstanding name and reputation directly into the convenience of digital.
FinTech
Stripe built a payments powerhouse by focusing on e-commerce. Now it’s following its customers into bricks and mortar.
Stripe finally announced their foray into the offline world with Terminal. A smart (and expected) move, this rounds out their offering and gives them even more room to run as they continue to build their business and achieve global scale. I personally believe they will be a bigger business than Square and this puts them even more directly in competition.
Technology
Leave no dark corner
If you click any link this week, make it this one. An amazing piece of reporting on China and the notion of the social credit score. The presentation of the report is fantastic. Read it and prepare to be impressed and likely somewhat terrified at the same time.
Amazon planning at least 8 new Alexa devices, including microwave oven
Amazon is doubling down on hardware, announcing 8 new Alexa devices, built in house, all featuring the voice assistant. Having been in the hardware business for the last 4.5 years, I, like many, am surprised that they are doubling down on hardware when they can just as easily get Alexa into other devices as they have proven with Bose, Sonos etc. Hardware is hard and consumers are fickle. The more Amazon built devices in homes the more they control the voice as an OS strategy?
Random Tidbits
Quote I’m thinking about: “Folks are usually about as happy as they make their minds up to be.” - Abraham Lincoln