How Retail Can Keep Up with Amazon in 2018

MarketScale
MarketScale
Feb 9, 2018
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Alexa, go to the store and pick up a gallon of milk.
If you own an Alexa, you know that’s not quite how it works. But Alexa can order and have milk delivered to you, thanks to a digital revolution in retail known as Amazon. And other retail companies are struggling to keep up.
Top contenders to Amazon’s digital reign include American companies like Walmart, Best Buy and Nordstrom, but in comparison to Amazon, they are still in their infancy. However, there are some steps these companies can take to secure a better outcome for 2018’s Black Friday market. Customizing the experience is a good place to start. Retailers need to get back to what made companies great 75 years ago—get to know their customer base, then tailor the digital experience to fit their needs.
Responsible data sharing and privacy security is another major factor. It’s not uncommon for the digital space to share the retail information of its customers; but making sure your customer’s information is secure will keep them coming back to you. And, securely sourcing customer buying information can allow other companies to offer discounts on products they know consumers are searching for.
Listening to customers and tailoring the digital experience to their needs is the only surefire way retailers will experience the type of success Amazon has had in the digital market. There’s plenty of time before Black Friday for companies to roll out new ways to expand their digital footprint.

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