How Brooklyn Is Taking On Amazon
We’re in the midst of the perfect storm (or perhaps the perfect double hurricane) to cause the mass extinction of small businesses and the consolidation of wide swaths of commerce. The last six months have been punishing for most small businesses, particularly those that catered to the surrounding community, relying primarily on foot traffic and the patronage of regulars to keep the lights on.
Stay-at-home orders and fears of the virus have dramatically changed the shopping habits of many U.S. consumers. Last quarter, e-commerce accounted for 16.1% of all U.S. retail sales, up from 10.8% from the year prior, while brick-and-mortar sales plummeted, according to new data from the U.S. Department of Commerce. But most of those digital dollars are going to a select few corporate behemoths—namely Amazon, Walmart and other established “everything” stores, where customers can buy most of the items they need on just one platform with minimal supply chain and shipping issues.