Long before retail was impacted by social distancing, the American mall was fighting for survival. Early signs of this were everywhere: perpetual discounting and promotion, insufficient staffing, stale inventory, and outdated storefronts. A number of these retailers are highly-leveraged assets, a culprit even a junior financial analyst could identify. As a result, a deluge of layoffs and closures began within two weeks of foot traffic falling. What will a healthy retail ecosystem look like when normalcy returns?
At its very birth, the telegraph system became the handmaiden of commerce. These were the words of the National Telegraph Review and Operator’s Companion, a trusted industry publication written in 1853. Tom Standage’s The Victorian Internet is an exploration of Samuel Morse’s contribution to global communication. To the reader, it became clear that Morse’s invention was the foundation of the technologies that we hold so dear. These include our television, the telephone, and the internet. The telegraph was the basis of America’s electronic commerce operation. Morse’s famed code was the predecessor to today’s communications methods. Tom Standage’s own words:
I opened the freezer and for the first time, sealed cups of Daily Harvest outnumbered all other products. The prepared foods brand owned our freezer. A growing number of Americans will soon say the same. This report explains.
