UBS On-Air: Paul Donovan Daily Audio 'The cost of doing things differently'

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The failure of another generic clothing retailer says more about structural change than the pandemic. Automation is driving down the cost of personalization. The cost of being a retailer has fallen?you don't need a shop, just a good internet connection. Social media makes people brands, with a "merch link in bio" allowing followers to buy hoodies and baseball caps. (My merch links sell books, but I could add a hoodie branded "The interminably tedious EU-UK divorce" if there is demand.)

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