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Amazon Dominated Online Retail
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Some Retailers Had Too Many Stores
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A Few Big Retailers Have Survived
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Amazon (NASDAQ: AMZN) was founded in 1994. It went public in 1997. Like most online businesses, it was boosted by the dawn of broadband. Broadband penetration reached 40%-50% in 2005/2006. It was about that time when retailers said Amazon had started to destroy their brick-and-mortar business. Business Insider wrote in 2007, ‘The ‘Amazon effect’ began the retail apocalypse, as sales slumped and stores closed at retailers like Sears and Toys R Us.’
Which retailers were…