![]() ![]() The retailers that are the best at meeting these needs are having the greatest success. That could be in-store, at home or in their car as they drive up to pick up an order. But to be a great retailer you have to figure out how to meet your customers where they are. That means stores aren’t going anywhere anytime soon. In the second quarter of 2020 eCommerce only represented 16.1% of total retail sales in the United States. Amazon awakened the dinosaurs and now they are coming for your customers in these ways.ġ. They are best in the best position to provide an omni-channel experienceįor years analysts have talked about the importance of omni-channel retailing but 2020 is really the year omni-channel retailing had its birthday party. ![]() Whether you are a small retailer or a larger retailer, watch out for the big box retailers. Target’s CEO Brian Cornell says that Target increased market share by more than $5 billion in the first half of 2020. Amazon had the higher growth rate, but the bigger problem for most brick-and-mortar stores was other, larger brick-and-mortar stores.” Yes, the pandemic favoured these companies but to capitalize on a trend you have to be ready for it and they were.Īs the New York Times writes: “ over the 14 years through 2013, Amazon added $38 billion in sales while Costco added $50 billion and the Sam’s Club division of Walmart $32 billion. While some consider them dinosaurs their performance, especially in 2020 tells a different story. They are established, have deep pockets and are savvy, best-in-class retailers. For lack of a better term call them big box retailers and they include the likes of Walmart, Target and Costco. While everyone is focused on Amazon, at times to their detriment, a formidable set of competitors is rising. A big number for one company but hardly a takeover of the industry. If you take a closer look you will see that Amazon actually only holds an estimated 6% of the retail market in the United States. In 2019 Walmart generated $514 billion in revenue while Amazon generated $281 billion. Yes Amazon is big but Walmart is bigger, twice the size. Someone at Walmart’s headquarters must be sipping on a glass of wine each time antitrust allegations are brought up against Amazon. ![]()
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