Question

How Amazon is disrupting the retail industry

Answer 1

Inventory Efficiencies- Amazon provides a wider range of more price points that encourage consumers to shop online instead selling of of offline. They have torn down the barriers of retail location-based availability, thus offering competitive prices and an improved marketplace when it comes to how customers shop for products and services And since Amazon partners with so many third parties for delivery, it doesn't have to deal with one of the main problems for traditional retailers with surplus inventory sitting on shelves that may or may not be self-sufficient. Having more efficient, better positioned distribution centres,

Product Search- Although other retailers spend a lot of money building their paid and organic search presence in hopes of boosting online purchases, Amazon has practically no search equity because it doesn't need them. A whopping 55 percent of online shoppers say they continue looking for their product on Amazon. Amazon has been the product platform on Google. It is the first location people have to go to. So when you think about it, why go somewhere else if Amazon has the best deal, get it to me as soon as possible and if something 's wrong, they'll refund the money

Data And Personalization- By comparing shopping, suggestions, ratings and sales data, Amazon has the competitive advantage of better selection and evaluation of the products. Amazon is a pioneer in predictive, custom offers and recommendations based on other buyers, reviews and personal preferences. "Once Amazon closes the gap in AI-powered decision-making in homes with Alexa, they'll be following the curve once again. Yes, Amazon is the gold standard for algorithm-based customization, "In general, they only managed to make things effective,

Customer Experience- Amazon's one-click checkout, which sets the bar to accelerate the shopping process and provide in-depth descriptions of the items. Some of the knowledge comes from vendors, but a lot comes from customers who have purchased their goods too. Of course, there are ratings and feedback, but also the whole product Q&A and photos from people who purchased this product and all the specs you may want, Amazon leads the way in customer support, as well as customers know that if they receive a product that is not what they wanted or expected, Amazon will reimburse the money. For mainstream retailers this same strategy is now a necessity.