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Amazon makes a lot of brick-and-mortar retailers nervous.
"They're increasingly pushing in-store sales online, where they're almost inevitably cheaper," Karl Heiselman, the CEO of Wolff Olins, told us. "Even retailers like Best Buy and Target have created Amazon price-matching policies.
Heiselman, whose consulting company helps build brands, told us five ways that major retailers are outsmarting Amazon.
By bringing the best of Amazon into their own stores
"Walmart recently began offering a service that lets people pay online and pick up in stores," Heiselman said. "Since implemented, more than half the sales from Walmart's website are picked up from stores." Walmart took the convenience of Amazon and found a way to implement it in its stores.
Making shopping an experience
"Retailers need an engaging offline strategy to get customers in stores and keep them coming back," Heiselman said.
Having better merchandise than Amazon
Target achieved this through its Missoni collection, an exclusive collection of designer-branded merchandise that quickly sold out. Heiselman also cited Target's "Everyday Collection" campaign, which "transformed a dull, yet necessary, retail experience into an energetic and memorable one."
Creating communities that provide editorial content
This could exist through consumer reviews and more. The retailers could also include professional editorial reviews, along with a way for customers to easily buy the product, Heiselman said.
Make employees happy
"Costco is known for nailing this," Heiselman said. "The average employee earns twice that of Walmart, and as a result they see lower turnover and better-trained staff." Great customer service is a key way for retailers to beat Amazon, so keeping employees happy is important.
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