If you ask most retail leaders what their biggest threat is, you’ll hear one common answer: Amazon.
It’s no surprise. The online giant racks up $232bn (£185bn) of global sales and accounts for almost half of US and a third of UK ecommerce sales, with strength in diverse categories ranging from books to beauty.
Just like ‘Google’ became a verb, so has Amazon. To be ‘Amazoned’ is to have one’s business crushed by the retailer moving into your category.
But Amazon impacts all retailers. Even in areas where it is not stealing market share, the bar it sets in terms of payment, delivery and customer experience, drives higher customer expectations.
And its devotion to innovation and solving customer problems means that bar is constantly being raised.
In Understanding Amazon, Retail Week delves into:
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