WHAT’s NEW in the UPDATED 2nd EDITION (TradePaper Version)?

Despite the dot-com shakeout and economic slowdown (both of which were anticipated in the first edition), the basic thrust of the book has not changed one iota. The book’s structure and layout also is unchanged.

However, the first edition was completed in early 2000 and so we have another 18 months of online shopping under our belt. As predicted, some things are selling better than others; the author has re-run the forecasts to 2010 for all product categories and made some modest changes here and there.

In terms of total online shopping by 2010, the first edition forecast that 31 percent of all retail sales would be made online by then. The new forecast comes out at 29.5 percent, so not much has changed there. Indeed, e-shopping is picking up steam and will ramp up rapidly as the economy rebounds.

The original text basically stands unchanged. Despite the first, rocky phase of the Webolution, none of it needed rewriting to any significant degree. But it has been updated in important ways:

• The Introduction is all brand new material. It explains the Nasdaq “bubble” and the dot-com shakeout, and shows how and why the Webolution nevertheless continues unabated. In doing so, the Introduction critiques an article by Harvard strategy guru Michael Porter, who wrongheadedly tries to argue that the Internet changes nothing. He couldn’t be more wrong! And the ongoing Webolution will prove it. Indeed, the next phase of the Internet will see it become a HyperWeb that will turn retailing on its head.

• The beginning chapters contain new and vital information. This includes fast-changing topics such as m-commerce, plus fresh online shopper demographic and webographic trend data.

• All 12 product category chapters have been updated. Many new paragraphs of essential information have been added to reflect and explain three important types of change: - how some companies have changed their online offerings or e-tail strategies; - how evolving Web technologies are changing the marketing of some products; - how some “dot-coms” became “dot-bombs,” and the lessons to be learned.

• The final section on e-Marketing Strategy is unchanged. As argued in the critique of Michael Porter’s view of the Internet in the Introduction, the strategies presented in the first edition are solid, future-proof, and right in line with where the HyperWeb is heading.

• The lists of “Which Web Sites Will Win” in various categories have been reconsidered and sometimes modified. The author also has slightly modified the “Top 50” list of biggest retail Web sites in 2010. The list in the first edition deliberately did not include many dot-coms because the author believed few would ever achieve sufficient volume to make that list, even if they survived. Even then, two that did make the list have closed down (eToys and Petopia), and one of “The Big 5” (Webvan) went bankrupt and has been replaced on that list.

Future Living: The Coming Web Lifestyle by Feather Frank
Magic Of Thinking Big by Schwartz, David

THIS GUY GETS THE FUTURE-- get it and you will too
This is the consultant who coined the phrase "thinking Globally, acting locally -- fabulous book -- essential for every bookshelf. Perfect to use for business presentations, great for reference material. Terrific way to find out what's next. From web to mobile and web economics and lifestyles and how to avoid being cyber-spaced-out. I especially like the chapter on buyer acquisition costs-- most people won't talk about that. Lots of great info here and it seems to be fairly up to date even in the older editions. His newer one must be fab. Smart agents are just getting started and this author envisioned them when he first wrote the book-- artificial intelligence-- next gen Web-- lots of great stuff in here. He divides the book into several parts 1-- the Weboluton 2) Who will shop online 3) what will they buy 4) and emarketing strategy....

But I just read the new, updated, 2nd Edition (in softcover), and it is even better! I fully agree that the first book was worth *5 Stars* but this is worth more and is bound to be successful. I remember the 1st edition was on Amazon's business best-seller lists for several weeks when it first came out. This one should do even better.

Not only has the material been updated to account for the dot-com shakeout (with the author explains in compelling detail) but new case study material has been added. As well, Feather has updated all his forecasts for e-commerce sales, by category, and basically is sticking with his original forecasts to 2010. And, based on the ongoing trend in e-commerce, I think he will be proven correct.

The 2nd edition also has some brand new material in the form of an Introduction that was not in the 1st edition. This 20-odd page chapter alone is worth the modest price of the book. It is an articulate, well-argued, but blistering critique of Harvard strategy guru Michael Porter who, in 2001, wrote a strategy paper in Harvard Business Review that basically claimed that the Internet changes nothing as far as strategy goes. When I read Porter's piece, I felt he was being very defensive of his own strategy model and failed to support his arguments, dismissing succesful online business models such as AOL and Amazon as exceptions to the rule. Feather brilliantly takes Porter's feeble argument apart, and shows why and how the Internet changes the rules of competition and, hence, business models and marketing strategy -- both in the online and offline world. I repeat, this chapter alone is worth the price of the ticket.

One final point worth noting is that the new 2nd edition retains the excellent layout and design of the 1st edition. So it is relatively easy to compare the two texts to see what's new and different. As well, the few typos that one reviewer found annoying in the earlier edition have all been fixed.

In short, this is a crisp, clean, up-to-date and easy-to-read book that everybody in business strategy and marketing should be reading. Feather's out-of-the box thinking not only stretches your mind but suggests concrete ways to achieve greater marketplace success. Whether you're selling products and services on Main Street or over the Web, this book points the way.

I would give it "7 Stars out of 5" but I am restricted to 5. Do yourself a favor and put this book, not on your bookshelf, but on your desktop. And get your colleagues to buy one too. Your business will only benefit..

Most books on future economics are seemingly quite strange and require a big stretch in reader imagination (e.g. "The Third Wave"). Other books on the Internet predict the Internet will be everything to everybody, an obvious hyperbole.

Feather walks the line between a George Jetson-like future and overblown exaggeration of the Internet. From this reader's perspective, Feather's observations and/or predictions make a great deal of sense and seem to fit a resonable extrapolation of today's events in the crucible of the free market and the unfolding of time.

No, you won't find Feather predicting that all products and services will sell extremely well over the Internet and you won't find a death sentence for bricks and mortar retailing. What you will find, however, is a thoughtful analysis of broad product lines and a different expected outcome of these product lines based on current and predicted consumer behavior. Sometimes the analysis is in favor of an Internet solution (with say 50% of the sales from the Internet) and sometimes the Internet is expected to be less prone to be the "ultimate" selling machine (with say 10% of the sales from the Internet). Don't think the book is just a big broad stroke either; Feather breaks down each of the product lines into sub-groups so that you are not only clear as to his thought process but also find yourself searching the sub-groups for your own industry or market to determine Feather's prognostication.

If you have a business today, or you are employed by a business today, a small investment in this title could stimulate thinking that can assist in positioning you and your business for future success.

It's a very stimulating ride and one that should contribute to creative thought on the impact of the Internet in the reader's private and business life.