Ben Gilbert: preference

Transcript context

…Okay, do we have any others on here? Switching costs. With Walmart+, maybe, but not. They interestingly don't have branding. This, I think, is a place that's different from Amazon. For Walmart, the definition of branding, as Hamilton puts it out there, is would you pay more for a good that came from this brand than a different brand? At Walmart, no. You go there because it is the lowest price. I will not buy something that's more expensive at Walmart than somewhere else. The Walmart brand does not mean that to me. At Amazon, they have kind of moved away from the, we always have the lowest price. They have convinced you that it is so convenient to shop on Amazon that even if they're a little more expensive in price, that's kind of okay. I think it's really interesting that they've taken a different path there. I don't think Amazon was ever just about being the lowest price. I think it was more about we are the best combination of price selection and convenience.…

Stored transcript either side of the excerpt. The highlighted words are the published quote; the surrounding text is unedited source, never generated.