Local retailers need to sit down and take note. Two major retailers – Amazon and Waitrose – this week acquired media businesses.

Close to home,Waitrose bought the 63 year old Good Food Guide from Which? to build on its presence as a “food expert across a number of communications channels.”

“We aim to be the go-to shop for food lovers and this guide will develop our brand as an authority on good food,” said Rupert Thomas, marketing director.

jeff-wapoMore dramatically, Jeff Bezos, the owner of Amazon bought the Washington Post for $250m.

He said: “Journalism plays a critical role in a free society and the Washington Post as the hometown paper of the capital city of the United States is especially important.”

Media moguls used to buy papers for political influence. Can big retailers be any different?

However, for local retailers this underlines the need for you to have a social media strategy. You need to communicate with your shoppers and build their trust in your offer. See Retail Newsagent for more ideas on how to do this.