Meanwhile, at the NRF's BIG Show 2017, where technology dominated (510 retail tech exhibitors!) it was reported that in 2016, "Amazon spent more than $15 billion on innovation, which is more than the top 20 retailers (excluding Walmart) combined."
Yikes! How is an independent retailer to "compete" and "win" in that environment?
Well, consider this perspective:
- A lion and a gazelle wake up on the Serengeti. The gazelle knows that to outrun the lion, it need not be the fastest gazelle. It only has to be the second slowest.
The good news for many retailers is that you don't need to outinvest or even beat Amazon. (Whew!) You just need to outperform your weakest competitor!
- Amazon is unquestionably a relentless competitor and growth machine. So too was Wal-Mart. And before that, the "category killers" like Barnes & Noble, Office Depot and Toys 'R Us. And before that, regional malls. Department stores. And on and on.
- The Big Guys will come and go. There always will be another one emerging.
Through all that, independent retailers who stay focused on their own survival – keeping their own competitive edge, knowing their real competitors – those retailers have continued to have a place in the community. And that is truly a win!
No comments:
Post a Comment