He’s already predicted that Amazon is going to kill brands outright, and now US marketing professor Scott Galloway has delivered yet another startling analysis of the tech and retail giant.
In a recent YouTube video for his research company, L2, Galloway said Amazon’s acquisition of supermarket company Whole Food Market for US$13.5 billion “will be what Instagram was for Facebook”.
“[It’s] a genius acquisition that gives them an unbelievable growth vehicle,” he said.
“Amazon’s gonna lay their operational expertise across Whole Foods, bring down prices and also put in place their hurdle rates for profitability – i.e. zero.
As a result, we’re about to get a Mercedes for the price of [a] Toyota.”
Galloway then went on to predict that Amazon will become the first one trillion-dollar market capitalisation company by July 2020.
Furthermore, the marketing guru said Amazon was about to become the fastest-growing media company in the world.
“And they’re going to get sports. They’re already streaming some NFL games. Look for them to capture the Olympics, March Madness or the Super Bowl with their infinitely cheap capital, which will only expedite the incredible fall that broadcast television is going to register when they no longer have sports as their fireball of viewership erosion.”
In adding to Amazon’s behemoth status, Galloway also noted that it is the fastest-growing company in the cloud services sector, and could soon take over Apple as the most innovative hardware company in the world.
However, Galloway warned that Amazon’s meteoric rise wouldn’t be without consequences.