Amazon is becoming a force to be reckoned with and has proven just how big the online retail market is.
Crate & Barrel founder Gordon Segal had some words about the growing online retailer though. he told CNBC’s “Squawk Alley” that Amazon is taking the “touch and feel” out of shopping.
Amazon will be rolling out Prime Wardrobe which allows customers to try on clothes at home and return those they don’t wait and only purchase them after. Segal doesn’t believe this kind of strategy can work on big goods.
Segal, who opened his first Crate & Barrel back in 1962, said this is worrying and remarked, “I worry people aren’t picking up … touching and feeling products anymore.”
Cheaper products and poorer quality “won’t be good for consumers in the long run,” explained Segal. According to him, delivering a quality product at a great price is “what retail has [always] been about.”
He continued, “[We] do almost 45 percent of business on the internet because we have a great product.”
Disclaimer: We have no position in Amazon.com, Inc. (NASDAQ: AMZN) and have not been compensated for this article.