Despite, or because of, its already significant foothold, the e-tail giant continues to usurp market share from its peers, both large and small. The phenomenon has become so widespread that, like a hurricane, it’s been given a name: the Amazon Effect.
Consumers flock to Amazon because of its popular mobile app, wide product range, low prices, often free and fast shipping (with Prime and Prime Now), and a reasonable return policy. Essentially, it affords shoppers options, convenience, and customer service, and—perhaps most importantly—it delivers on its promises. It’s able to do all of this because of its size, global network of sellers, ample fulfillment infrastructure, and strong brand image.
Because typical retailers, however, generally don’t have all of those capabilities or to that extent, you may believe you’re so disadvantaged that you can’t compete, never mind actually overcome the Amazon Effect. While many may never be able to compete directly with the retail goliath, there are a few key ways where you (the retailer) can still beat them at their own game in order to drive customer acquisition and, especially, customer loyalty.
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