On the Trey Ware Show, Karl & Trey discussed the changing landscape in the retail sector. The way consumers shop is changing, but it’s not going away.
Trey Ware: We’re going through basically a retail revolution in our country, in my opinion lik we went through the ag revolution, the industrial revolution, retail is going through that revolution and it’s all because of online, right?
Karl Eggerss: Yeah absolutely. We did see a weak retail sales report for December, but overall you’re seeing more of a transformation than anything like you said, because the way people are buying stuff is different now. They’re still buying shoes, they’re still buying clothes, they’re still buying cars, they’re buying all that but the way they’re doing it is completely different than 15 years ago. And they’re getting it quickly, right? We have Amazon same day service in a lot of cities, and so you’re getting this stuff when you want it without having to leave your house. So people are still buying, and I would argue there’s a lot of people that are unfortunately pry buying too much. We see that the average household has like a $1,000 saved in their savings account, and it’s because of this immediate gratification where they can buy anything they want with a click of a button. But, as far as people walking in malls, and hanging out in malls like you and I did when we were younger.
Trey Ware: Yeah.
Karl Eggerss: They’re not doing that anymore.
Trey Ware: Right.
Karl Eggerss: And so, they’re getting their entertainment differently, and the way we consume entertainment, and they’re shopping differently, and again, instead of us dwelling on the ones that aren’t doing it right let’s focus on the ones that are doing it right because there’s a lot of opportunity in our stock market for those particular companies.
Trey Ware: Well and as more and more A&I come in, and we see more and more computers taking over, and doing the things that people used to do, that revolution is going to continue.
Trey Ware: Even when it comes to medicine we now see a lot of advertising on television that deals with Doc in a Box that you never even see, that you just log on, you describe your condition to this doc. Sometimes you see the doctor through a computer screen, or sometimes you don’t even see the doctor at all and the doctor can prescribe certain drugs, not all drugs, but certain drugs can be prescribed that way. And then they’re delivered to your front door, and you never even grace a doctor’s office, you don’t have to wait in a doctor’s office in a room full of sick people or anything like that, you do it all online.
Karl Eggerss: Well personalized medicine will change. I even do my business and have done for years a lot of video conference. People that either can’t come into the office, or people that we have in other cities or states, we do a video conference, we’ve been doing that for years where I can share my screen, you’re right there with each other and it’s very convenient. Clients actually like that instead of having to fight traffic, and having to fight all the stuff going on trying to get there, and it’s a hassle, and they can do their meetings when they want at very convenient times. It’s transforming every business not just medical.
Trey Ware: Yeah it is huge, it’s a big, big deal. You can check him out at Karl Eggerss, Eggersscapital.com is where you get more details about Karl. That’s eggerscappital.com, you can get his Eggerss report and follow along with him. Thank you Karl. He’s here every Monday at this time to talk about what’s going on in a world of economy and the stock market as well.
Get our latest market commentary by subscribing to our blog here.
To subscribe to the Eggerss Report via the Itunes Store, click here.