[antr]

1. I haven't said "there are no economies of scale"; and I don't know how this relates to my point.

2. "traditional retail will keep being strong", during the past 5 years retail has been one of the hardest hit industries both in the US and Europe, I don't understand the basis for such argument.

3. "will remain cheaper and with higher margins" - retail prices tend to have an over cost of 30%-40% due to fixed costs, primarily due to distribution, real estate and retailer markup. Again, I don't understand the basis for such argument.

4. "When something new comes, it does not mean it replaces something existing." The internet replaced travel agencies, taxi/limo booking desks, the yellow pages, music distribution, etc. That's the internet alone, but if you take a look at large supermarkets such as Walmart, this has swiped mom 'n pop retail shops all over the U.S.

The great thing about this discussion is that time will tell.