There has been a wide range of thoughts about the meaning of physical store closings, coming from some major retail thinkers and various major media news outlets. But the underlying assumptions in almost all of these arguments are flawed. They cast physical stores and online sites as distinct entities, even rivals. The reality, though, is that these “rivals” are in the overwhelming number of cases owned by the same companies (Walmart vs. Walmart.com, for example). Bottom line: The very concept of what a merged channel strategy looks like has eluded all those thinkers.