Today I sat with an anxiously ambitious CU student who interned for a client of mine. A smart but obviously misguided youth, he asked me to be a mentor on his new web based product/services idea that took 2nd place in the business school competition. He’s chomping at the bit for some light speed online retail growth.
Coincidentally, a few days ago I got a call from a smart, experienced cycling industry type with a new product idea targeted at specialty bike retailers. He’s also doing some bit chomping of his own but thinking specialty retail is how he’ll grow.
Two ‘interesting’ new product ideas with one big difference, the diametrically opposed distribution channels of online vs. specialty retail. Bits and bytes vs. bricks and mortar. You’d think a potential investor would lean towards the web but not so fast…….
This would be a good time for all you IBD’s to thumb your noses at those who have predicted web sales would be the death of retail. Now give yourself a couple attaboys or attagirls because you’re a part of the retail channel that’s been critical so far in the success of the bike biz.
After gettin’ all lovey-dovey on you let’s have the reality check that retail is not easy and the lately web seems so ‘low barrier to entry’? Actually, they might be right about death, but it’s the death of typical retail.
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