What is the amazon effect?
Since its entry to the lives of billions of people in 1994, the Amazon effect has changed the way that retail functions. Consumers have been empowered by the speed of purchase and the information available during the decision-making process thanks to digital commerce. The transition between online and offline retail is far from over, however if brick and mortar stores are to survive the Amazon effect they must evolve into something greater. In fact, rather than raising the white flag, a a crucial paradigm shift is being experienced by many as they see how their stores stand to benefit from the world of omni-channel and connected commerce. Say what? Brick and mortar stores can apply lessons learned in the online retail world? Absolutely!
To keep up with changing times, retailers need to embrace this shift by incorporating the following:
Find out how retailers can survive and succeed at: Phygitalmind.com.