CAI-NJ May 2018 (w)

STAYING COMPETITIVE... from page 22.

ing Amazon’s exclusive seller of toys, Toys ‘R’ Us would give up its online autonomy, with ToysRUs.com. A few years later, Toys R Us was able to terminate that agreement but the dam- age was already done. Consumers, were now used to and preferred shop- ping for toys online through Amazon. Toys ‘R’ Us never recovered and failed to make changes in their business

“The key is to be prepared to make decisions to stay competitive.”

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model to keep up with the evolving retail landscape. Earlier this year, Toys ‘R’ Us announced it will be closing all 735 U.S. stores while the CEO of Amazon, Jeff Bezos, is one of the wealthiest people in history. There are many other stories like the Blockbusters and Toys ‘R’ Us’ of the world and they all have one very important thing in common – lack of innovation and vision. The condo industry is not unlike these other industries. The supply and demand for homes is constantly

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