Why Amazon is good for brick and mortar retail
If you want your brand to succeed, you have to put your customers first.
For some organizations, this would require a serious pivot in corporate mentality—one that re-prioritizes the user experience above all else. It would require some brands to step away from marketing at target audiences and instead focus their efforts on engaging with potential consumers.
One company that's really proven they understand how to implement a customer-first ethos is e-commerce giant Amazon.
From day one, Amazon was literally built on going the extra mile for its consumers. And as a result, they successfully survived the evolution of the Internet and were even profitable during the recession. Because of their relentless commitment to putting the customer first, Amazon is, essentially, one giant case study in market disruption.
But the bigger Amazon gets and the faster they innovate, the more concerned people are becoming about the future of the offline retail industry. Some critics argue that the e-commerce giant is affecting market dynamics so significantly that offline retailers will soon be unable to compete entirely. However, we couldn't disagree more.
Sure, Amazon has made a big impact on retail, and they'll likely continue to do so, but offline retailers aren't just buckling under the pressure. They're innovating!
They're enhancing in-store experiences and ramping up loyalty programs.
They're offering more product variety and deeper discounts than can be found online.
In short, offline retailers are focused on putting their customers first too, and it seems to be working. According to the U.S. Department of Commerce, brick-and-mortar shopping is still alive and well—and accounted for more than 90% of total retail sales in the last three months of 2017.
Forbes journalist Pamela Danziger recently wrote,
“Retail in America is more vibrant and exciting than it ever has been, thanks to Amazon’s disruption. Many retailers have responded ineffectively and with a lack of creativity, and so have died. Others have taken on the challenge of Amazon and are better for it. Amazon has been a prime mover to make retail great again.”
KEY TAKEAWAY
While Amazon is certainly setting the bar high for putting customers at the center of every business decision they make, the reality is that they're far from inciting the retail apocalypse critics fear.
They have shaken things up, but ultimately Amazon's success has been good for everyone in the retail industry because they've forced retailers operating across all other avenues to step up their game—the sum of which is nothing but great news for consumers.
Simply having a great product isn’t enough to keep your business ahead of the curve anymore. Let us help you shake things up.
