I cannot agree more with the statement of Emily Weiss, the founder of www.glossier.com.
Ok, Amazon makes us buying goods at a convenient price and deliver them in 1 hour, but it is a great shopping experience? NO
Gen Z don’t want to buy with Amazon style.
Gen Z love to shop with their friends online, with epic social features like group chat and rich profiles.
Shopping has always been a social activity - older generations used to go to the mall sharing recommendations, opinions and just generally having fun with friends.
Online shopping killed this and some companies are bringing it back for Gen Z.
The shopping app sobump.com is a strong example of the disruption that Gen Z new e-commerce players are taking to the established players like Amazon and Ebay.
BUMP users can build up their public profiles, follow & message anyone on the platform and even create & share their own group chats. This social experience means kids can hang out, build their online identity with us which in turn drives transactions - we're a marketplace fuelled by a social network.
Founded in 2016 and based in London, they are already backed by leading names in venture capital including Kleiner Perkins, e.ventures and Y Combinator.
I believe that Amazon is aware that something is happening and that while you can buy a toothpaste and toilet paper you shop (and not buy) for a pair of cool sneakers or a design mirror.
I am switching my AMZN rating from BUY to HOLD for the moment…