{"id":489,"date":"2017-12-31T21:19:20","date_gmt":"2017-12-31T21:19:20","guid":{"rendered":"https:\/\/mattersgraph.com\/?post_type=insight&p=489"},"modified":"2026-04-09T01:28:37","modified_gmt":"2026-04-09T01:28:37","slug":"fruit-thats-ripe-for-non-traditional-disruption-and-how-to-diligence-the-prospect-of-it","status":"publish","type":"insight","link":"https:\/\/mattersgraph.com\/fr\/insights\/fruit-thats-ripe-for-non-traditional-disruption-and-how-to-diligence-the-prospect-of-it\/","title":{"rendered":"009\u00a0: Des fruits m\u00fbrs pour une disruption non traditionnelle (et comment \u00e9valuer cette perspective)"},"content":{"rendered":"

Le rachat de Whole Foods par Amazon bouleverse assur\u00e9ment plusieurs secteurs bien \u00e9tablis\u00a0: production alimentaire, logistique et distribution, grande distribution et alimentation. Depuis l\u2019annonce (et \u00e0 ce jour), Costco a perdu 171\u00a0000 milliards de dollars de sa valeur\u00a0; Kroger, 301\u00a0000 milliards de dollars\u00a0; Sprouts, 241\u00a0000 milliards de dollars\u00a0; Wal-Mart a subi un revers, mais semble se maintenir.<\/p>\n\n

La d\u00e9cision d'Amazon comporte de nombreux aspects fascinants \u2013 et plusieurs enjeux strat\u00e9giques importants.<\/p>\n\n

Du point de vue de l'analyse pr\u00e9alable commerciale, cette transaction de 1\u00a0040 milliards de dollars met en lumi\u00e8re un risque d'acquisition g\u00e9n\u00e9ralement n\u00e9glig\u00e9 (mais aussi une opportunit\u00e9)\u00a0: le risque de l'arriv\u00e9e d'un nouvel acteur majeur, non seulement dispos\u00e9 \u00e0 entrer sur le march\u00e9, mais \u00e9galement int\u00e9ress\u00e9 par une concurrence aux r\u00e8gles tr\u00e8s diff\u00e9rentes. Il ne s'agit pas n\u00e9cessairement d'une solution miracle (bien que certains aspects le sugg\u00e8rent). Ce cas ne se limite pas \u00e0 des changements tactiques\u00a0; ce nouvel acteur a un int\u00e9r\u00eat bien plus marqu\u00e9 \u00e0 adopter une strat\u00e9gie totalement diff\u00e9rente, avec des r\u00e9sultats tr\u00e8s diff\u00e9rents.<\/p><\/div>\n\n

\n\n

Comme cela a \u00e9t\u00e9 constat\u00e9 d\u00e8s les premiers instants de cet accord, Amazon ne cherche manifestement pas \u00e0 maximiser son flux de tr\u00e9sorerie sans dette ni son r\u00e9sultat d'exploitation \u2013 des indicateurs qui sont l'objectif de tous les \u00e9piciers (et dont ils sont tenus responsables).<\/p>\n\n

Amazon n'est pas dans ce secteur pour vendre des produits alimentaires. Amazon est pr\u00e9sent sur ce march\u00e9 pour une seule et unique raison\u00a0: s'immiscer davantage dans les habitudes de consommation quotidiennes des consommateurs. Les produits alimentaires constituent un besoin fondamental. Chaque famille en ach\u00e8te chaque semaine, sans exception.<\/p>\n\n

La compagnie des eaux n'\u00e9tait pas \u00e0 vendre, et Starbucks avait une capitalisation boursi\u00e8re de 1 048,7 milliards de dollars. Whole Foods pr\u00e9sentait certains atouts.<\/p>\n\n

Que signifie cette nouvelle tactique commerciale \u2013 p\u00e9n\u00e9trer un segment et red\u00e9finir les r\u00e8gles du mod\u00e8le \u00e9conomique \u2013 pour les strat\u00e8ges en capital-investissement et en fusions-acquisitions\u00a0? Premi\u00e8rement, il faut prendre au s\u00e9rieux la perspective de ce type de rupture. Deuxi\u00e8mement, il faut y voir autant une opportunit\u00e9 de cr\u00e9ation de valeur que certains pourraient y voir un risque (ce qui est le cas).<\/p>\n\n

Quels sont les signes avant-coureurs (d'un risque potentiel)\u00a0? Nous serons ravis d'en discuter plus en d\u00e9tail, mais voici quelques \u00e9l\u00e9ments essentiels \u00e0 int\u00e9grer \u00e0 votre strat\u00e9gie\u00a0:<\/p>\n\n

    \n
  1. S'agit-il d'un secteur qui s'adresse \u00e0 une large client\u00e8le ?<\/li>\n\n\n\n
  2. Ces utilisateurs sont-ils des acheteurs potentiels pour des services ou des produits ext\u00e9rieurs \u00e0 l'entreprise actuelle\u00a0?<\/li>\n\n\n\n
  3. Les habitudes d'achat de cette base d'utilisateurs sont-elles fiables (par exemple, comme l'achat de nourriture \u00e0 l'\u00e9picerie)\u00a0?<\/li>\n\n\n\n
  4. S\u2019agit-il d\u2019un secteur mature, ayant connu peu d\u2019innovations au cours de la derni\u00e8re d\u00e9cennie\u00a0?<\/li>\n\n\n\n
  5. Existe-t-il des concurrents (qui pourraient servir d'agent de changement pour une entit\u00e9) qui ont...
      \n
    • .\u2026 une large client\u00e8le fid\u00e8le, ou une base d\u2019utilisateurs plus restreinte mais tr\u00e8s active qui fait office de leaders d\u2019opinion et d\u2019\u00e9vang\u00e9listes (comme Apple au milieu des ann\u00e9es 1990)\u00a0?<\/li>\n\n\n\n
    • .\u2026 des attributs sp\u00e9cifiques \u00e0 son entreprise qui sont attrayants et uniques (par exemple, une plateforme technologique\u00a0; un canal de distribution\u00a0; une marque sous-exploit\u00e9e qui poss\u00e8de une histoire\/un h\u00e9ritage unique et puissant).<\/li>\n<\/ul><\/li>\n\n\n\n
    • Existe-t-il des acteurs influents ext\u00e9rieurs \u00e0 l'industrie qui...
        \n
      • .\u2026ont jou\u00e9 en marge\u00a0? (Les premi\u00e8res versions de la boutique de musique iTunes d\u2019Apple ont donn\u00e9 un indice assez important de ce qui allait arriver\u2026 la boutique de musique iTunes a ajout\u00e9 un onglet de visionnage qui diffusait des bandes-annonces de films d\u00e8s la premi\u00e8re ann\u00e9e de son existence, et a pr\u00e9c\u00e9d\u00e9 de plusieurs ann\u00e9es son entr\u00e9e dans le domaine de la location de films et de s\u00e9ries t\u00e9l\u00e9vis\u00e9es, mais annon\u00e7ait tout de m\u00eame son entr\u00e9e dans un univers m\u00e9diatique beaucoup plus vaste\u00a0?)\u00a0;<\/li>\n\n\n\n
      • .\u2026savoir gagner de l\u2019argent autrement (par exemple, Google avec la publicit\u00e9, d\u2019o\u00f9 sa volont\u00e9 de bouleverser la suite bureautique de bureau, ou Apple avec la vente de mat\u00e9riel, d\u2019o\u00f9 sa volont\u00e9 de bouleverser l\u2019industrie des m\u00e9dias, etc.) ;<\/li>\n\n\n\n
      • .\u2026ont beaucoup de capital; et<\/li>\n\n\n\n
      • .\u2026ont-ils fait leurs preuves en mati\u00e8re de rupture et obtenu l\u2019autorisation des investisseurs pour investir de nouveaux secteurs\u00a0?<\/li>\n<\/ul><\/li>\n<\/ol>\n\n

        Si l'on additionne tous ces facteurs, et que l'on aboutit \u00e0 une intrigue significative, on se retrouve face \u00e0 un \u00e9l\u00e9ment int\u00e9ressant \u00e0 analyser (et dont on pourrait \u00e9ventuellement tirer parti).<\/p>\n\n

        GRAPH estime que ce risque ne se limite pas aux grands march\u00e9s de masse. Nous pensons que cette strat\u00e9gie commerciale va rapidement gagner en importance (car elle a atteint un point critique et sa notori\u00e9t\u00e9 cro\u00eet \u00e0 grande vitesse) et qu'elle fera ses preuves dans de nombreux secteurs. Les capitaux sont abondamment disponibles et les cr\u00e9atifs en comprennent le potentiel.<\/p>","protected":false},"excerpt":{"rendered":"

        Le partenariat entre Amazon et Whole Foods bouleverse assur\u00e9ment plusieurs secteurs bien \u00e9tablis\u00a0: la production alimentaire, la logistique et la distribution, la grande distribution et l\u2019\u00e9picerie. Depuis l\u2019annonce (et\u2026)<\/p>","protected":false},"author":[39],"featured_media":0,"template":"","meta":{"featured_image_background_position":"","promoted":false,"promoted-priority":0,"footnotes":""},"sector":[],"topic":[72,69,71,59,70],"audience":[],"insight-category":[144],"class_list":["post-489","insight","type-insight","status-publish","hentry","topic-business-model","topic-competition","topic-disruptors","topic-new-entrants","topic-resilience-of-the-business","insight-category-competitive-position","author-mark-stein"],"yoast_head":"\n009: Fruit that\u2019s Ripe for Non-traditional Disruption (and how to diligence the prospect of it) - Matters Graph<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/mattersgraph.com\/fr\/insights\/fruit-thats-ripe-for-non-traditional-disruption-and-how-to-diligence-the-prospect-of-it\/\" \/>\n<meta property=\"og:locale\" content=\"fr_FR\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"009: Fruit that\u2019s Ripe for Non-traditional Disruption (and how to diligence the prospect of it) - Matters Graph\" \/>\n<meta property=\"og:description\" content=\"The Amazon Whole Foods tie-up is certainly throwing more than a couple of mature industries for a loop: food production, logistics and distribution, mass-retail and groceries. 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