Amazon’s reach is undeniable with 43% of total US online retail spend occurring on its website. With an ever-expanding market presence Amazon is affecting every business in one way or another. This leaves many retailers grappling with how to evolve appropriately to retain and gain market share in the age of Amazon.
Most retailers are collecting emails from newsletter signups, ecommerce, loyalty program signups and e-receipts. According to recent research, 38 percent of consumers report having two email addresses and 31 percent report having three to four addresses. But with disparate databases and volumes of customer records—some old, some new and others incomplete – how do you know if you’re reaching customers not only in the right channel but via their preferred email?
For each retail category (apparel, shoes, electronics etc.), consumers have many choices when deciding where to make their purchase. Clearly things like price, quality and variety come into play, but as marketers, it’s important to understand why consumers choose the brands they do. And, marketers need to understand what drives these consumer brand preferences. Consider these four ‘drivers’: