If a company can’t match Amazon’s vast assortment of products, low prices, and speedy delivery, it must differentiate itself in other ways. It needs to pursue strategies that Amazon cannot match.
The retailers of the future will focus their efforts in one or more of four major areas:
Creating an amazing in-store experience that digitally merges with an amazing online one e.g. Nike & Sephora
Offer a highly curated selection of exclusive products e.g. Williams-Sonoma
Investing heavily in technology, including mastering social media e.g. Stitch Fix, ASOS, and Lulus
Doubling down on a social mission in a way that makes customers feel good about buying from them e.g. Warby Parker, Gymshark, Rapha
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