Learn How to Compete with Amazon in Your Area Of Business.
In 2017, about 44% of all online sales in the United States went through Amazon, and other big players took notice. Walmart purchased a competing Jet.com for an outrageous $3 billion, and Sears was being threatened with going out of business. The emergence of a dominant company like Amazon is nothing new; it is just as was many years ago when big companies like Sears cleared out heaps of local merchandise stores.
The game-changer for Amazon is that it competes at the highest level in every field; electronics, artificial intelligence, entertainment, pharmaceuticals, and media distribution. It should be no surprise to anyone that Amazon has entered the game of B2B distribution; it is much more within their original niche than many of their endeavors. As it sets up for long-term growth in sales and market share, the question is not how big Amazon will get, the question is, how do the rest of us compete? The first step is not to try and “out-Amazon Amazon.” Stick to what makes your business successful, making it difficult and expensive for Amazon to venture your way.
With no stock-shelf shortage, Amazon is able to stock many lesser products, not just the big hits. By attacking all of these niches, Amazon increases its spread and domination through long-tail revenue. As Amazon inevitably enters your field of business, lean into the one thing that Amazon can not come near, the relationships you have with your customers.
For more information on how Amazon became the behemoth that it is and how you could grow your company, download your free white page.