Don't Get Amazoned
Wall Street, we've got a problem.
CEOs in every industry are terrified of getting Amazoned, i.e., having their business swept away by the mega-disruptor named after the world’s largest river. Their paranoia is well founded given the haunting ruins that dot the landscape, once vital bookstores, hardware stores and electronics retailers destroyed by the Amazonian flood. Last year’s acquisition of Whole Foods extended the terror to the grocery industry, vaporizing $12 billion of market cap from the amalgamation of Kroger, Wal-Mart, Target, Costco, Supervalu and Sprouts.
Schumpeter would be proud, but that's no consolation for today's CEOs looking to survive.
Disrupting the food industry not enough? Let's talk health care. Amazon’s impending acquisition of PillPack sent shock waves through the pharmacy business. But did the larger healthcare industry also have to quake in their booties? Apparently so. No sector is safe.
Then there's Amazon's profit machine, which prints money for Jeff Bezos akin to how Adwords does for Larry Page. AWS, of course, is the beast that ravaged the server industry.
Heck, a recent rumor that Amazon might acquire Landmark Theaters - a small chain of movie houses - sent the entertainment industry into a tizzy. In short, if you're a CEO who's resting easy, you're not paying attention. Plus, your board should be replaced. Capiche?
Whether you call it “getting Amazoned” or the Amazon Effect, B2C businesses like retailers and brands are bound and determined: not to us, not to us! They aren’t alone, as B2B businesses like distributors and manufacturers share the same urgency, which they should. Amazon's surging B2B business is on pace to pass $10 billion in sales this year. $10 Bill!!
How they do that?
The foremost pillar of the Amazon Effect is a world-class digital experience (DX). Amazon introduced consumers to the personalized shopping experiences we now take for granted.
Everyone knows what works, even as Amazon now falls short.
- Super Search: Super search experiences start with auto-suggest, but go way, way, way beyond, with contextual results that reflect AI and human curation. Super search sells!
- Personalized Assortments: Customers want to see what they want to see when it comes to product assortments. What do they want to see? Their desires reflected, siren like, no matter the depth of the catalog from which are drawn those shiny objects of their desire.
- Killer Content: Tell me a story! Consumers crave videos and other supporting content that adds relevant context and emotional resonance to the products they’re shopping.
Ironically, Amazon today delivers an inelegant and lowest-common-denominator DX. Its design is pedestrian, its search rather dim, its ability to deftly surround products with relevant content minimal. In short, their commerce DX is the soft underbelly of the beast.
So, the answer for businesses that want to out-Amazon Amazon is to deliver a better DX. Fortunately they can do that with brXperience, the smart and open DX Platform from BloomReach, and the associated commerce solution known as brXperience for Commerce.
BRX for Commerce is a modern DX solution for retailers, brands, distributors and manufacturers. It allows digital merchandisers and content marketers to punch way above their weight, indeed to out-Amazon Amazon. There are many reasons for this mega power boost. You can read all of them in the press release announcing brXperience for Commerce. Here's two: BRX4C is microservices-based AND pre-integrated with all the leading microservices-based commerce platforms. So instead of getting stuck with a monolithic commerce battleship, BRX4C forms the core of a modern and agile ecomm architecture.
Give your CEO something good.
Want to give your CEO a good night’s sleep in this age of Amazon Anxiety? Tell her you discovered the Amazon killer she so needed you to find. Then start out-Amazoning Amazon.
2018 E-commerce Personalization Report
Discover the personalization strategies of leading online retailers.