Amazon shows European retailers how it’s done
European retail merchants looking to improve their operations may want to take a page from Amazon's book, as the online retailer dominates in terms of deals, inventory and customer experience, according to industry expert Scot Wingo.
Wing, who is CEO of ChannelAdvisor, says the key to Amazon's success has been revolutionizing the retail market. For example, one recently launched pilot program features a series of drop boxes installed near two busy subway stations in the U.K. Busy workers would be able to stop by these stations to pick up their purchase, using a code text messaged to them to open the box.
"Amazon has a nice way of figuring out what European shoppers want," he told Internet Retailer. From European web sales alone, the brand generated approximately $16.7 billion last year, up from $12.1 billion in 2010. It also has upward of 4 million Europeans enrolled in the Amazon Prime service.
"Amazon Prime gives Amazon an excellent platform to keep serving up better value, selection and customer service to its best return shoppers,” says Wingo.
New features and services are just one strategy that merchants can employ to streamline store operations. New technology, better customer service, innovative services – these are all crucial to maximizing sales.
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