1st). Amazon
The now mega-company Amazon has taken the marketplace by a huge lead. Almost no other company can even compete against Amazon. What makes Amazon so different? Amazon practices a very active marketing presence on the internet and also creates its own products of good quality at a cheaper price for consumers. Furthermore, Amazon has a big advantage over traditional stores since they can ship almost anything a person can think of to the consumer’s doorstep faster than almost any other shipping carrier. So, with a massive selection and fast delivery, consumers do not even have to leave their beds to buy exactly what they want.
A Response
With Amazon becoming such a major threat to traditional stores, companies like Wal-Mart have had to step up their online shopping and delivery. Some items on Wal-Mart’s website have two-day shipping or even one-day shipping to keep up with Amazon. Moreover, some companies have created programs that allow consumers to buy on a mobile application and have the items brought to their cars when they pull into a parking lot. This is a great twist on convenience for consumers and inspires people to order while at work and just pick up the items on the way home without having to leave their cars.
Even Playing Field
In the modern world of internet shopping and convenience-based marketing, it is hard to create an even playing field for every company out there. However, companies can improve every day and continue to pursue new and innovative ideas that will reach new and old markets. Just like Amazon has continued to grow and improve, according to Amazon’s announcement found on its website, Amazon is opening new fulfillment centers constantly. Their newest one will be in Iowa (Amazon, 2020).
Looking Forward
Amazon continues to this day to grow and improve its services, in some cases that means helping other firms with shipping and warehouse services. Amazon has warehouse space that is rentable as well as the ability to have firms send their products to Amazon so when the item is bought Amazon will ship it for the firm. This way it cuts costs and time for smaller firms and increases profit for Amazon which is already set up to send out millions of items often.
Reference:
Amazon Announces First Iowa Fulfillment Center. (n.d.). Retrieved April 3, 2020, from https://ir.aboutamazon.com/news-release/news-release-details/2020/Amazoncom-Announces-Fourth-Quarter-Sales-up-21-to-874-Billion/default.aspx
2nd).
Amazon's marketing strategy was partially to offer customers an easy way to buy a variety of different items that might not otherwise be available, and partly to offer that from the comfort of home. Online stores can offer their customers a much wider selection of products than their brick and mortar counterparts, as they are less limited by volatile inventory space. This means that they are able to hold onto a product, even if they do not sell it in the foreseeable future, as they are not limited in what they can display for customers to purchase. Another specific advantage is the ability to more easily compare prices, as well as do everything from anywhere. The time saved can really add up, when instead of driving to a store, then waiting in line to purchase an item, then driving back home, one can simply order an item in less than a minute, online. However, brick and mortar stores do still have a few advantages over online shopping. Firstly, they can offer a real preview of a product, and allow for a tactile experience for potential buyers. Another example is that of information and support. With actual physical people in the store, they can answer any questions a customer might have, and even be able to recommend a more personalized solution to a potential problem.
“The key to survival is to transform your business and your business model.”(Frew, D. 2017). Brick and mortar stores are changing the way that they operate. Some stores are using new technology, in the form of RFID in order to keep a better track of inventory, as well as product loss (Frew, D. 2017). Other stores are focusing more on the personal relationship between the shoppers and the employees. Helping make the shopping experience an interactive and positive experience is sure to increase sales, as well as inspire loyalty in potential customers. (Winsight Grocery Business, 85(2)).
An even playing field might be hard to achieve, as the online shopping experience is going to be getting even better with the development of AR and VR technology. However, if brick and mortar stores stick to their guns, and focus more on the customer, and offering a positive experience, then it is less likely that people will stop going to physical stores. Likewise, there are several major online shopping companies that are opening physical stores, in an effort to bridge the gap between their online shopping customers(Winsight Grocery Business, 85(2)).
Amazon has a number of products that are aiding in the further development of their company. They are continuously updating and adapting their storage systems and technologies to provide a faster and more streamlined experience. Along with this, they are preparing to launch a drone delivery service which has the potential to be very convenient, offering a 30 minute delivery time. In addition to that, they may be opening up new warehouses and physical stores at which customers can interact with staff and have a better shopping experience(Hung, S., Cheng, M. & Chiu, P. 2019).
Making an important decision without first seeking counsel from others is foolish. In Proverbs 3:5, it says to lean not on your own understanding. This means that we must look outwards to find peace and consensus. Most importantly, we must look to God for solace and wisdom. In Proverbs 3:6, it continues on to say “in all your ways acknowledge the Lord, and He will direct your path.”
Hung, S., Cheng, M. & Chiu, P. Do antecedents of trust and satisfaction promote consumer loyalty in physical and virtual stores? a multi-channel view. Serv Bus 13, 1–23 (2019). https://doi-org.ezproxy.liberty.edu/10.1007/s11628-018-0364-y
Frew, D. (2017). There is hope for brick and mortar retail: A time to transform the business model. IEEE Consumer Electronics Magazine, 6(4), 105-106. doi:10.1109/MCE.2017.2717118
Future of bricks and mortar. (2019). Winsight Grocery Business, 85(2), S5.
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