The Rise of Amazon: How Retail CMOs Fight Back
US retailers are under tremendous pressure. Declining foot traffic, store bankruptcies and closures have been dominating retail headlines for years, including former giants such as Toys ‘R Us, Sears, J.C. Penney, and Abercrombie and Fitch. Retail executives are racing to re-imagine and re-invent business models, customer experiences, and delivery formats — all at the same time.
In this white paper, we examine the two greatest changes in the retail industry in the past two decades — the Amazonification of America and the rise of the omnichannel customer — and their impact on retail CMOs. We also share how modern retail CMOs use data and technology to win the loyalty of today’s shopper.
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How Amazon Is Winning
This white paper will review a number of ways in which Amazon is beating traditional brick and mortar:
- shopping convenience
- product breadth
- quality
- variety
- price
- personalization
- loyalty program (Amazon Prime)
We’ll outline how retailers can leverage the combination of in-store and eCommerce to put up a fight against Amazon. We’ll also talk about the rise of omnichannel retail and the new customer journey.
Omnichannel Customer Journey:
- 67% of consumers research products online before shopping brick-and-mortar
- Over ⅔ of consumers say they have used their smartphone to do product research while in-store
- 55% of consumers visit stores to see, feel and touch products before purchasing online
The rise of Customer Experience and data-driven marketing in retail
Given the pressures on today’s retail CMO, he or she must devise innovative strategies to win customer loyalty — optimizing the entire Customer Experience (CX) in addition to nurturing customer relationship and driving revenue in an omnichannel world. In order to achieve this goal, CMOs are relying on data more than ever.
Today’s retail CMO needs a marketing stack that leverages increasingly sophisticated data, primarily targeting the most valuable segments, and delivering the most personalized message to every customer at any given time. Technology plays a huge role in managing and simplifying the entire process: the data collection, the analytics, the segmentation, the targeting and delivery of messages, and the optimization of marketing.
To learn more about building a defense against Amazon, download our white paper, The Rise of Amazon: How Retail CMOs Fight Back.
“Treasure Data is our center of marketing…our key to how we’ll live in a cookieless world, in an even more digital environment, and still connect with our consumers.”
Luiz Gama
Senior Global Martech Manager, AB InBev
“The volume and variety of data we collect helps Subaru build customer loyalty and distinguish our brand for success in a highly competitive transportation market.”
Saito Kazutaka
General Manager of Digital Innovation, Subaru