Stop Trying To Beat Amazon – TechCrunch
Forced Brick and Mortar Stores shutdown due to pandemic lockdowns had to quickly switch to an online-only model. Understandably, newcomers to the digital retail scene have found themselves behind the times in attracting online shoppers, especially in the face of well-established events like Amazon Prime Day. This year’s Prime Day, which ran from June 21 to 22, would have been the biggest ever on the platform.
Online retailers who have chosen to forge their own path to generating sales often wonder how they can compete with Amazon.
Amazon’s real unique selling proposition is its distribution network. Online retailers will not be able to compete on this point. Instead, it’s important to focus on where they can excel.
The reality is that Amazon’s real unique selling proposition is its distribution network. E-merchants will not be able to compete on this point because Amazon’s distribution network is very fast. Instead, it’s important to focus on where they can excel, without having to become a third-party seller on Amazon’s platform.
Here are seven key tips relevant to online retailers who want to attract and retain customers without having to partner with Amazon or try to beat it at its own game.
Get a 360-degree view of the customer
An online retailer needs to think about what kind of experience they want to create; customers expect smooth processes at every step of their online shopping journey.
One idea is to implement a consumer data platform that will help the retailer get the best information about their customers: who they are and what they like, what websites they visit and other relevant information. . Retailers can use this data to then target customers with advertisements for products they will actually want to buy. Consumer data platforms can even help online retailers target consumers across platforms as well as in the store.
Ensure smooth and hassle-free pre-sale transactions
One of the biggest frustrations for online retailers is the performance of a website, from accessing the site to closing the sale. If anything fails or gets stuck at any point in the process of finding a product and checking out, the customer will leave and not come back.
The solution to this problem involves a lot of user interface testing to ensure a good user experience. Testing should be performed on all e-commerce segments of a site, including the shopping cart and banner ads. By inserting tags throughout the customer journey, a retailer can track lost sales and see where issues are occurring on their website.
Offer a wide variety of payment options
As a payment option, PayPal recently hit a record high 36% year-on-year growth in payment volume between Q3 2019 and Q3 2020. Despite the popularity of PayPal, Amazon does not accept it as a payment method.