55% of US households now have Amazon Prime and that consumers choose to come to stores primarily because they need the product now or need more expertise before they buy, there are 4 key areas that retailers must focus on to improve the customer experience and keep consumers coming back to the stores.
- Accurate inventory for better in-stock position.
- Empower in-store associates with better tools to assist customers.
- Signage to make the in-store experience quick and insightful.
- Optimized application-aware SD network.
IHL research has shown that whenever a weak retailer fails, Amazon captures a maximum of 30% of market share left by that retailer. The remaining 70% share is taken by the bricks and mortar retail leaders in that segment. And how much each retailer takes is dependent on how prepared they are to meet the needs of the consumer that needs the product now or needs more knowledge before making a decision.
One final note, to succeed in the future retailers do not have to win over Amazon. They simply need to out-execute the weakest competitors in their segment. How are you upgrading your digital in-store experience? Download the White Paper to learn more.