It’s a real fact that the vast majority of sales still take place in physical stores, whereas Amazon is certainly a critical threat. It’s clear that retailers need to follow (methodical approach) systematic and practical steps to basically recognize where the real battleground lies.

  • First and foremost, it’s not only just by investing heavily in technological capabilities, but it’s by formulating and developing a savvy strategy that makes the best value for the proposition of the store itself.
  • Retailers also need to reconsider their view in terms of how they can differentiate offerings, through stocking distinctive brands and products that aligned with a concentration on specific segments. Customers don’t care what the retail brand is, they do care only about attractive offers and unique products.
  • Back to technology, Retailers should optimize their websites to be contemporary and user-friendly. Similarly, the website must be synchronized with the products that physically existed in the store. Nobody will order again from retail that their products are always unavailable.
  • Stores have to be equipped with a perpetual monitoring system, having analytics to enhance commercialization and promotions. This is an imperative aspect to generate data in order to identify the demand rate whether it’s high or low. Besides, conducting periodic marketing research to determine the retail position in the competitive landscape.
  • Establishing a delivery department, but in case it doesn’t have an adequate budget so it can easily make a deal with a delivery company that could manage the entire process. Or simply follow Walmart approach which was by dealing with Uber drivers to deliver the products as well as to promote the store.
  • There are seven reasons why consumers visit stores, (the authors write, including: value and price, convenience and ease, breadth and depth of assortment, omnichannel at scale, product vetting/touch and feel, consultation and styling/authority, and experiences and community) The retailer must be pivoting its strategy upon these reasons.

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