The goal of "The Innovation Conversation" is to explore some facet of the fast-changing, technology-driven retail landscape and how it affects businesses and consumers. It is, we think, fertile territory ... and one that Tom Furphy - a former Amazon executive, the originator of Amazon Fresh, and currently CEO and Managing Director of Consumer Equity Partners (CEP), a venture capital and venture development firm in Seattle, WA, that works with many top retailers and manufacturers - is uniquely positioned to address.
Tom and Kevin do a deep dive into Amazon's announcement yesterday that it is launching two new pharmacy offerings. There's Amazon Pharmacy, which acts as a pharmacy that delivers. And there's an initiative that gives Prime members access to savings on medications when paying at 50,000 other participating pharmacies nationwide - most of which are direct competitors such as Walmart, Kroger, CVS, and Walgreen. What are Amazon's long-term intentions? Have its competitors let the fox in the hen house? Has Amazon, with the help of its competition, just made it even more irresponsible not to be a Prime member? Tom and Kevin offer perspective and context on this major new Amazon move.