Already have an account? Sign in.

 Remember Me | Forgot Your Password?

To Compete With Amazon, Rivals Need To Be Like The Online Retail Giant

June 14, 2018: 12:00 AM EST

Retailers and branded companies need to adopt Amazon’s strategies in order to compete in the online and physical-stores markets. In order to match Amazon Prime, branded companies need to create an “on-demand, always-on direct connection” with consumers using a “conversational interface.” This will enable offline retailers to come up with a “customer-focused, data-driven, real-time business.” Legacy retailers and brands should learn from Amazon’s use of machine learning and the online retailer’s focus on customer service. Also, Amazon’s digital assistant, Alexa, is fast becoming a brand influencer, making the shopping experience easier and serving as another tool for data collection. [Image Credit: © Mediamodifier @ Pixabay.com]

Rick Braddock , "To Compete with Amazon, Big-Name Consumer Brands Have to Become More Like It", Harvard Business Review , June 14, 2018, © Harvard Business School Publishing
Domains
RETAIL BUSINESS
Online
Operations
Strategy
Trends
Geographies
Worldwide
North America
United States of America
Categories
Companies
Companies, Organizations
Market News
Other
Trends
Developed by Yuri Ingultsov Software Lab.