How Retailers Can Best Compete With Amazon
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1. Strategy: This is about the right operations strategy. Each retailer needs to uniquely define how it's going to compete with Amazon for their customers’ attention by addressing what I like to call the four pillars of retail success:
- great prices;
- awesome selection;
- best-in-class convenience; and
- personalized experiences.
Each brand must define a compelling strategy in which consumers will select them over Amazon based on offering better prices, selection, convenience and/or experience.
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- Companies:
- Amazon.com
- People:
- Jeff Bezos
James A. Tompkins
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