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To Compete With Amazon, Rivals Need To Be Like The Online Retail Giant

June 14, 2018: 12:00 AM EST

Retailers and branded companies need to adopt Amazon’s strategies in order to compete in the online and physical-stores markets. In order to match Amazon Prime, branded companies need to create an “on-demand, always-on direct connection” with consumers using a “conversational interface.” This will enable offline retailers to come up with a “customer-focused, data-driven, real-time business.” Legacy retailers and brands should learn from Amazon’s use of machine learning and the online retailer’s focus on customer service. Also, Amazon’s digital assistant, Alexa, is fast becoming a brand influencer, making the shopping experience easier and serving as another tool for data collection. [Image Credit: © Mediamodifier @ Pixabay.com]

Rick Braddock , "To Compete with Amazon, Big-Name Consumer Brands Have to Become More Like It", Harvard Business Review , June 14, 2018, © Harvard Business School Publishing
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