Prosper Insights & Analytics™, a leading provider of business intelligence solutions, has released a new report available for purchase titled, “Prime Risk: A Retailer’s Guide to Understanding Amazon Prime Members.”
Over the past several years, as Amazon.com has grown its market share, loyal customer base, and product lineup, it seems that many competing retailers and brands underestimated – or were in complete denial of – Amazon’s impact on the retail industry and shifting shopping habits as consumers increasingly became comfortable purchasing online. Amazon is no longer an abstract digital pest for retailers – it’s a full-blown disruption to the industry as a whole. Shoppers, who are increasingly becoming Prime converts, LOVE the change, which in turn threatens the livelihood of every other retailer in the industry. As they gravitate toward Amazon in search of products, information, and other digital services, traditional retailers are left to compete for shrinking share of consumers’ wallets.
For retailers no longer in denial about the effect Amazon has had on both shoppers and the retail industry, this report is to serve as a guide to understanding Amazon Prime from the point of view of consumers, identifying which retailer shopper groups and formats are most at risk for losing customers to the Amazon vortex. Continue reading →
Guest post by Ron Lunde, Senior Marketing, Advertising Executive & Market Strategy Consultant
Choices = Disruption What must companies do today to generate billions of dollars in revenue, create thousands of jobs, reward investors and sustain the environment —Survive? They have to think about it. They have to make new choices. They have to think outside the box, they have to think in new boxes. They must reframe both their personal and corporate mental & business models. They have to be able to Innovate and Re-Innovate.
Cell phones weren’t introduced by AT& T
Online mapping was not introduced by Rand McNally
Overnight package delivery wasn’t introduced by the U.S. Postal Service
Diet and caffeine-free soft drinks weren’t introduced by Coke
There is a significant lost opportunity and cost inflicted on companies if their management teams are mired in the status quo, teams that don’t or can’t tackle the hard work of Innovation and Re-Innovation. Continue reading →