When Amazon got started back in the ‘90s as an online bookstore, few retailers outside of the bookselling market even took notice. Over the past couple of decades, however, Amazon has saturated the market to the point that every retailer must consider their strategy and figure out how to compete with the merchandising behemoth. Amazon’s vision is to be “Earth’s most customer-centric company,” and they have been bringing that vision to fruition by making shopping more convenient, more consumer-focused, and more data-driven than ever before. Because of Amazon, customers have come to expect personalization, quick and affordable (if not free) delivery, competitive prices, and a fast and easy shopping experience.
So how do you compete with that? Experian Information Solutions lists six ways you can keep stride with the retail giant:
- Get your products to your customers quickly
- Provide a shopping experience, not just a buying experience
- You don’t have to be the best at everything to be the best at what you do
- Keep your best customers coming back
- Use your data
- Get emotional
Amazon continues to set the pace in retail, but these six tips can help you keep up. While Amazon is set up to be the best at some things due to the sheer size of the company and the diversity of its offerings, you are also uniquely poised to excel in ways that the retail giant cannot or will not. Focusing on your competitive strengths and differentiators, while also addressing the areas of your strategy that might leave some room for improvement in an Amazon world can help you succeed. So think about what you’re doing well, what makes you unique, and what you have to offer your customers that they cannot expect from Amazon. Just because customers expect the same convenience and efficiency that they might get from Amazon doesn’t mean that they have lost appreciation.
To read the full story click on this link: Experian Information Solutions