Read Kristine Kathryn Rusch's take on the matter HERE.
In my opinion, Sears took too long to get on the internet selling train. The train that Amazon has infinitely mastered with their price matchings, speedy delivery, intuitive algorithms, and forward thinking.
Amazon is undoubtedly a juggernaut in the sales industry, and they became that way by building an empire, then using that capital to come up with new ways of reaching customers. They focus on customer satisfaction and spend a pretty penny doing so. They even opened up the market for independent sellers and authors with Amazon Sellers Central & Amazon Advantage programs and KDP (Kindle Direct Publishing). Let's not forget Amazon Associates affiliate program!
Amazon is, as I said, a juggernaut. Which isn't a bad thing, but does border on monopoly. They make money from moving their own product, moving other's products, and keeping customers happy. Many people (not just authors) make a living selling through Amazon.
Will Amazon follow Sears's path to bankruptcy? Jeff Bezos told Amazon employees on November 8th, 2018:
"Amazon is not too big to fail. In fact, I predict one day Amazon will fail. Amazon will
go bankrupt. If you look at large companies, their lifespans tend to be 30-plus years,
not a hundred-plus years."
Barnes & Noble is facing this prediction now. In my opinion, poor management is the reason. Companies grow so large that they think they'll never fail. But the bigger you are, the harder you fall. Proper management would slowly set aside a fund for such casualties, and better yet, invest in a financial team to stay on top of the market trends. I may be talking out my blow-hole, and these companies do have such systems in place, but are they working? Again, the fault is poor management.
Thanks for reading! Share your thoughts, agreements, disagreements, etc, in the comments!