It’s no secret that the face of retail has changed dramatically in just a few short years. Just look at the meteoric rise of Amazon and it is plain to see we have entered into another era of retail sales. From their humble beginnings formed from the idea that books could be sold online more efficiently than in a traditional brick and mortar store, Amazon has continually pushed the envelope exploiting technology at every turn. This new phenomenon happened so quickly that most traditional retailers whose legacy was brick and mortar experienced difficulty in responding. Ultimately some were not able to adjust and are now subjects of discussion around what happened to destroy such companies. As Amazon continued to expand their model to include the sale of just about anything imaginable it seemed that the days of brick and mortar firms were numbered.
But, not so fast! In a recent article published by Forbes, it seems that the like of Walmart and Target have potentially turned the tables on Amazon. In their article “Walmart and Target Beat Amazon”, it is noted that the shares of Walmart are up 14.6% and Target 12.73% while Amazon only realized a 6.03% gain. This represents a significant departure from past years where Amazon had routinely outpaced traditional retailers by huge margins. So, it begs the question what does this signal and what is the impetus for such a change?
Industry analysts and business strategists were at a point where they had all but written off traditional retailers. So, what’s the secret sauce? It turns out that organizations like Walmart and Target have tapped a capability that resonates with consumers that Amazon is simply not able to replicate. Walmart and Target have leveraged their brick and mortar heritage and effectively combined it with eCommerce sales. Shoppers can order online and pick up the merchandise at a store location near them which translates to time savings for consumers while also avoiding shipping fees. Walmart also offers the same service in the area of grocery sales. You place your order online and go to your local Walmart where employees bring your grocery order to you curbside and even load the groceries into your car. Now that is a return to the old days of first-class retail service! Bravo, Walmart!
This approach ushers in a new form of retail marketing where it is more of a hybrid effectively leveraging the strength of traditional brick and mortar and eCommerce. Going forward it will be interesting to see if other traditional retailers follow suit to stave off the Amazon juggernaut. Rest assured, Amazon will not simply concede so easily, look for their return volley at some point.
That’s the world of corporate giants but, it leaves the question of how does this apply to smaller organizations? Is there a lesson here for smaller tier organizations who rely on storefronts to offer their wares? We at LaunchBlot believe it does, why not take a lesson from Walmart and Target and leverage both brick and mortar and eCommerce effectively. Use the newer technology to play to your strengths. While working with many small organizations we hear the same frustration. Most realize they must have an effective web presence that leverages social media as part of their business plan but, they just don’t know how to get there and realize they don’t have the budget to compete toe to toe with much larger firms. That’s where LaunchBlot comes in, we’re uniquely positioned to help your organization and at a price point that is fair and will not break the bank, we’re happy to discuss the possibilities with you today! Why not contact us today to get started?
Fran is Partner and Director of Development at LaunchBlot Media with vast experience in Web Development Management. Fran is also a Lectureer at Bryant University in Rhode Island and spent years in the insurance industry overseeing large scale development. He also has a background in global software product development.