Are digitally native brands the future?
The US magazine, Fast Company recently published an interview with Walmart’s e-commerce CEO (Marc Lore), who expressed a view that ‘digitally native brands are the future’ because brands, by their nature, rely fully on a direct connection to customers. We think that Mr Lore’s view is quite dangerous, as it seems to assume that Walmart’s existing business is obsolete. The role of the e-commerce team in a modern retail enterprise must be to expand the existing brands into the digital space, so they remain relevant. E-commerce must be about the ‘digital path to purchase’ (any purchase) rather than mere selling online.