A new decade has only just begun. An in light of this, we have invited prominent individuals from the retail business to talk about some of the trends and challenges they think will affect retail in the years to come.
Amazon is coming – what are you going to do?
What does it mean to shops that Amazon and other e-merchants also sell in Denmark?
What does it mean to shops that Amazon and other e-merchants also to business in Denmark? Amazon is already here and the talk about "Amazon is coming" is mostly about them being here even more in the future.
Every year, FDHI delivers an e-commerce analysis, and the numbers from 2018 show that Zalando, Amazon, H&M, Wish and eBay are the five biggest e-commerce companies. For the first time, no Danish e-commerces made it into the top five.
The evolution is here to stay. The question is just, what are you supposed to do if you own a shop and want to do well in the future?
Here are a couple of excellent proposals from Ka-ching:
- Be sure to sell both online and in the physical store. The customer chooses themselves when they want and have time to shop. If you don't sell online, you will lose revenue.
- Start small and create some success. It is a lot more fun investing in the future in smaller projects than to risk everything. Not everything succeeds, and your business should be able to tolerate at project going wrong.
- Sell online-products in-store. You will never be able to run a store with a range that can compete with the internet. Support the sale of products in-store with an even bigger range. When doing this, you can combine personal service in-store with a big range of online products.
Why do we propose this exact solution?
By all means, we do this because we come to wonder about store associates who say "Sorry, we don't have that. You can go home and buy it online".
Guess what happens
When the customer leaves the store without buying what they came for their time is wasted, and they will most likely buy the product online. It could be a competitor who wins the revenue instead of you.
Remember, all the big e-commerces only have shops in Danish cities to a limited extent. Amazon is coming, but Amazon is not opening 100 stores in the Danish towns. Use the shop as your advantage but add on online sales in-store and take up the fight.