Ready or Not, Here Comes Amazon

I’m sure you must have heard the news about Amazon coming to Australia in 2018… and that they will launch their full range of services and products – from fashion to books, electronics, and even groceries.

The news has been full of headlines like Amazon plans to smash Australia’s retail sector one toaster at a time, Amazon poses ‘profound’ treat to Australia’s retailers, “Amazon will eat our breakfast, lunch, and dinner – says Richard Goyder”

and research highlighted that…

56{3eda5e173ca6275da4995c0ae548c8d458796745545971cbe387f3473f149606} of Australian adults told Nielsen that they would buy from Amazon when it lands in Australia.

Analysis by Credit Suisse shows Amazon is likely to capture 5{3eda5e173ca6275da4995c0ae548c8d458796745545971cbe387f3473f149606} (if not more) of the Australian market share in the next five years. 

These are some dazzling numbers and it’s certain that Amazon will change Australia’s retail landscape as we know it, but the concept of market disruption is nothing new. Is Amazon really the enemy here or should Australia’s retailers be looking in the mirror and ask themselves if they’re offering a truly remarkable customer experience? Or even better, do they deliver on their customer expectations today?

We’re living in the ‘big data’ era where there’s the potential to have a thorough understanding about your customers. Make sure to use it to your advantage and differentiate your customer experience by tailoring to the individual, because that will make the difference between you, Amazon, or any other competitors for that matter.

Nothing is certain except change…