How Other Retail Companies Are Competing With Amazon.com, Inc. (AMZN) For Online Sales?
Amazon.com, Inc. (NASDAQ:AMZN) has an unusual way of getting creative with customer experience and apparently tastes success in whatever new it does. This has left competitors like Best Buy Co Inc (NYSE:BBY) and Target Corporation (NYSE:TGT) sleepless.
Amazon has the habit of stealing the headlines, be it the idea of drone delivery or shipping products within the shortest period of time. But in the process it did give some window to its traditional rivals, which are focusing on areas where Amazon lacks. For instance, Amazon’s promise to deliver products before Christmas last year, went sour due to the overwhelming amount of orders along with a bad weather. Resultantly, its third party carrier UPS failed to stick to the deadline.
Best Buy’s Experiment
That followed Best Buy Co Inc (NYSE:BBY)’s similar decision to guarantee Valentine’s Day delivery a day earlier. This time again the harsh weather stood like a test for the retailer, but foreseeing the collapse of its promises, it instructed its staff employees to take care of the pending deliveries.
The case presented itself as an opportunity to Best Buy, which is now planning to synchronize online shopping with in-stores in order to improve on delivery. Brick and mortar based retailers like Best Buy Co Inc (NYSE:BBY) and Target Corporation (NYSE:TGT) face dilemma of whether to cut their physical space or boost sales. But, two of the options are not viable given in the era of internet.
Make Model Interactive
The best thing in such circumstance is to make both conventional and online shopping interactive. Making a business model hybrid will help these companies to serve customers anywhere and at any point of time. Getting leverage is the key particularly for retailers like Best Buy that have attractive store presence. Experts claim that banking on opportunities that are available on account of physical presence could be threatening to Amazon’s success. In fact, Amazon.com, Inc. (NASDAQ:AMZN) is already mulling over launching its first physical store in New York.
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