The world is flat, disruption is the norm, and every product is a commodity. We live in a time where quality is being taken for granted and even the term itself has been commoditized. As consumers, we have been trained to expect high quality even when buying low cost products. Marketing teams have fueled this fire by enforcing this message and convincing us that the products we buy are better, cheaper, faster, stronger. This has created a false sense of security in the way consumers shop, teaching them that price is the only factor they should weigh in making their purchasing decisions. While retailers race to the bottom, they still believe the products they sell are their competitive differentiator when in reality, they are the cost of admission.
Why this hurts everyone, even consumers
As companies continue to push the boundaries on technology, the collective energy spent on R&D is diminishing. While Moore’s law teaches us that we will continue to evolve and advance technology at a steady pace, the net effect of a race to the bottom is a burden that is being unjustly distributed. Lets take Apple for example; in 2011 Apple spent