Source: Business Insider
Apple’s former retail chief Ron Johnson says Amazon may have a “tough” decade ahead as rivals like Target and Walmart are growing faster. He also added that the future of retail will likely involve a mix of physical stores and online experiences. That sounds similar to what Amazon’s ambitions for the future of its retail business could entail, considering it’s been investing more heavily in the physical experience recently. Visit Business Insider’s homepage for more stories. Amazon pioneered the e-commerce movement, but it may not be at the forefront of the next major revolution in retail. That’s according to Ron Johnson, the former head of the Apple Store who oversaw the tech giant’s retail efforts from 2000 through 2011. “I think it’s tough,” Johnson said in an interview with Yahoo Finance’s Brian Sozzi on what the next decade looks like for Amazon. “They’re on their heels. . . They barely make money in their online store, and Target, Walmart are growing faster.” Johnson, who took over the role of CEO of JCPenny after leaving Apple and now runs his own e-commerce company called Enjoy , said he believes the future of retail will involve some kind of mix of digital and physical shopping experiences. “I believe you get about a 20-year run in retail,” Johnson said. “The department stores owned the ’60s and ’70s.