With research indicating that a large bulk of customers still prefers to do their shopping in actual stores, it looks like retail is here to stay. What business owners need is to look at established names like Amazon—yes, Amazon—for lessons to enhance their chances at success.
In his quest to identify the factors that will allow companies to compete with the likes of Amazon, online author Bryan Eisenberg published his blog post entitled the “4 pillars of Amazon’s success.” In another article, Eisenberg related these four pillars to Amazon’s new brick-and-mortar store in New York City, in order to explain what you need to do to succeed in business today.
1. Being customer-centric
Amazon opened an actual store to give its customers more ways to make purchases. Customers today tend to be on the go, and most prefer to be able to see, feel, and hold their products as soon as possible, something that an online store cannot offer. Amazon understood and appropriately addressed the issue.
2. Being innovative
Amazon’s store is filled with displays and other pieces of technology strategically placed to maintain customers’ interest and to provide them with a positive experience. The company also proactively conducts experiments on how it can improve the satisfaction it offers to its customers.
3. Providing good customer service
Amazon is known for its frugality. Despite this, the company ensures that customers feel important and valued, never making them feel that Amazon is depriving them of positive experience to save money.
4. Continuously improving and optimizing
Amazon banks on data to create a personalized and optimized experience for each of its customers. The data it gathers is used to help customers with their purchases and to provide them with extra convenience.
Amazon proves that retail stores can learn a few things from e-commerce providers. Online business is not on the way out, but this doesn’t mean that retail is bound to suffer. Customers like their options and as long as both retailers and e-commerce entrepreneurs know to optimize their services for positive experience, both are set to obtain the benefits.
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