January 30, 2024

How Can Retailers Compete With Amazon?

Amazon is a retail giant that is dominating the e-commerce space and setting new standards for efficiency. Their massive amount of stock covering every imaginable category positions them as the go-to place for more or less any product you might want. They are also self-sufficient, handling everything from sales to warehousing themselves. And their data collection is sophisticated enough to allow them to make highly targeted product recommendations that are likely to appeal to each individual shopper.

All of this makes it a very hard competitor to beat. But don’t be discouraged, there are ways to fight back. Here are some of our top tips for competing with amazon:

Identify your unique strengths and play up those. Curation: Many shoppers are frustrated with the sheer volume of products available on Amazon and prefer to shop at stores that offer curated selections. This could be as simple as a manageable number of options for each search term (i.e. 10,000 different results for "women's black T-shirts") or it may be offering a specific line of merchandise not available anywhere else.

Personalization: Retailers of all sizes can create impactful shopper journeys that rival Amazon’s by using their customer data to delight and surprise customers with impactful individualized experiences. Sephora’s use of personalized recommendations, Trader Joe's private label, and more are all great examples.

Don’t be afraid to compete on price. Shoppers are willing to pay a premium for a good product they can purchase locally or from a retailer that is invested in their experience.

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