the better version of a service tends to hedge out the worse ones naturally. Thats just how market competition works.
an ideal "market" equalizes itself. Sellers compete with other sellers for the best price and best product and buyers compete for the best price they are willing to pay. Sadly this kind of market requires a few things to function, one of which being that all parties are knowledgeable to a minimum about the thing being sold as well as able to access and switch between the various buyers and sellers freely which is very hard to do in the vast market that is the earth.
Netflix had a huge influence in shutting down rental places. The only people that would argue this are those that weren't around before Netflix.
Both WalMart and Amazon had a huge role in smaller business closing down. Again, the only people that would argue this are those that weren't around before WalMart and Amazon.
Exactly, my local video rental store saw Netflix coming fixed it’s prices, memberships, merchandise, etc. And still exists today despite being ‘out dated’
That being said, WalMart is actually intentionally disruptive. I have seen them come into a town, price things that their competitors thrive off selling so low that they are losing money. And wait it out until the competition leaves. Then WalMart raises their prices to optimize profits. And they can do this successfully because they are a huge corporation that can afford to lose money in the short run to the end if long term profits.
Sure, Walmart is intentionally disruptive. It’s not an uncommon model. In fact, I used to work for an organization that was pretty affronted when Walmart and Amazon sold the product for LESS than they purchased it for. But this tactic is so common it has a term: Loss leader. You sell an item or selection of items at a loss to get people into your marketplace where they buy other things. Keep up or fall behind. If you fall behind, you risk collapsing.
Sure, sure. But it's one thing to sell an item for less to attract customers. What ends up happening in some cases is that one company (like WalMart) will drop prices on enough items for long enough that their competitors go out if business. Resulting in no competition to keep prices low or service important.
These kinds of practices aren't so much a problem in big cities, but in small towns it often means when WalMart comes in, it becomes the only option. And eliminating the competition means you no longer have to compete. Which means the market losses its ability to self regulate and can treat customers and employees however they want.
no, by that logic you didnt kill yourself, the gun did or more accurately you didnt accidentally kill yourself, the gun you go addicted to shooting yourself with did.
Netflix killed blockbuster because it was one price for all of it's content, it was all in one place, and, if we're going to be honest, people don't like going places anymore and why would you when you have a lifetime of content available at home? I'm not referring to when Netflix delivered discs, although that was the beginning of the end. Access to quality streaming content is simply a better service than dvd rentals. Netflix is to Blockbuster what CDs were to cassette tapes. No, I take that back, Netflix is to Blockbuster what multi-terabyte hard drives and cloud storage were to disc-drives. Most laptops don't even come with disc drives any more, and years ago I would have said that people will always need access to external storage, but It's probably been 8 years since I used anything other than a USB drive or an sd card, and the sd cards are only for phones and handheld consoles
an ideal "market" equalizes itself. Sellers compete with other sellers for the best price and best product and buyers compete for the best price they are willing to pay. Sadly this kind of market requires a few things to function, one of which being that all parties are knowledgeable to a minimum about the thing being sold as well as able to access and switch between the various buyers and sellers freely which is very hard to do in the vast market that is the earth.
Both WalMart and Amazon had a huge role in smaller business closing down. Again, the only people that would argue this are those that weren't around before WalMart and Amazon.
These kinds of practices aren't so much a problem in big cities, but in small towns it often means when WalMart comes in, it becomes the only option. And eliminating the competition means you no longer have to compete. Which means the market losses its ability to self regulate and can treat customers and employees however they want.