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Namely, e-tailing is being gutted.
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E-tailing's new maturity stands in contrast to 1998, when online shopping really took off.
By the by, none of this downbeat analysis means that Mr. Noto is negative on e-tailing as a whole.
"The landscape for e-tailing has changed," said Steve Hamlin, vice president of QVC's online division, iQVC.
E-tailing is comparatively amateurish.
E-tailing is hard hit already.
But e-tailing is not dead.
The market for e-tailing is still small; analysts estimate that the e-tail sector will never make up more than 10% of the total retail industry.
Her concern has sent some of the leading e-tailing stocks tumbling.
The glamorous but cutthroat world of beauty e-tailing is about to get a major makeover.
E-tailing also was supposed to reign over consumer products, such as toys.
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