Many leaders of big organizations, I think, don't believe that change is possible. But if you look at history, things do change, and if your business is static, you're likely to have issues.
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If you fast-forward through the years, there was a period of time when there was too much debate inside the company about the significance of e-commerce, there were leaders who believed it would never be any bigger than the catalog business, there were leaders that believed it would never be profitable.
I think companies have a big problem making a big transition, so leaders get replaced.
Businesses grow and they don't change enough and they decline over time. Retailers do that on a bit of a faster cycle.
As it relates to brick-and-mortar, we've seen it all and done it all. We operate around the world in different formats, different brands. We've got large stores, small stores, all these different formats. So we know that space pretty well, but the e-commerce business was different.
I really love retail history. We started our first Supercenter in 1988, prior to that we were operating general merchandise discount stores, and we tried some big hypermarkets copied from Europe and they had failed miserably, but we tried to downsize it and make it a Supercenter and it started working.
Customer satisfaction has always been the number one goal for retailers, and in the future, customers will be more empowered than ever to drive the change they want, as they get more control over their shopping experience.
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