The fundamental is clear, no one is ever going to pay say $$$...

The fundamental is clear, no one is ever going to pay say $$$ postage for say an eyeliner or a bb cream...

There is a reason why API said that they are opening new stores and that is to make sure that they have a store close to most of their customers. No one would order small items that they immediately need online when a physical store is located just less than 10 mins drive away. It will just never going to happen and funny how you mention that time will tell because time has already told us. In its base of operation, that is the US, where their infrastructure is at its peak, they barely captured market share, so much so that they were forced to eventually buy a physical store selling groceries. We also see the same in the UK and amazon has recently just reported dissapointing profit too even after all of the expanding they have done.

In a cut throat discounted condition of the price war between chemist warehouse, priceline, etc that even SIG was in a court battle with CW, mixed in with tough consumer sentiments, then where is amazon going to find its market share within the realm of what API is offering? It is a totally different story for the aforementioned electronics, white goods, etc of course.

Fundamental is fundamental.