Amazon’s eCommerce sales continue to grow. The pandemic has only made the company more successful with a 44.1% increase in sales in the year 2020. Online shopping peaked during the first year of the coronavirus and as a result, the eCommerce giant generated remarkable sales growth. Financial experts had originally estimated that Amazon’s sales in the US in 2020 would increase by 17.2% to $260.86 billion. However, the results were much higher, and Amazon reported an increase of 44.1% to $318.41 billion. This trend is expected to continue in 2021.
Currently, Amazon is the leading retail eCommerce company in the US and tops any top 10 list. For smaller and independent brands, it is becoming harder to compete with the sector giant. However, there may be some shortcomings that smaller companies can take advantage of.
There are a few key areas to focus on in establishing a successful brand:
Specialize
Believe it or not, you have an important advantage over Amazon: You have the ability to specialize in a certain type of product or service. While Amazon offers pretty much every kind of product that you can think of, including groceries and streaming, you can offer your clients a much more specialized service. Become an expert in your field and build a brand that customers can rely on.
Be personable
By developing an outstanding customer service team, you can become much more relatable to shoppers than a giant corporation like Amazon ever could. If buyers feel like their concerns are heard and they are taken seriously, they are much more likely to recommend you to a friend.
Offer a unique experience
Through the power of the internet, you have the ability to create a unique experience for your customer base. You may want to offer a subscription service that can benefit your target audience. This will not only create a useful service that customers can regularly enjoy but will also lead to a long-term relationship with your clients.
Key points summarized
By drawing from your strengths as a smaller brand, you can increase your success and actually compete with Amazon. The key is to become specialized and find a niche, instead of trying to offer too many different products. As a smaller business, you will be able to connect with your customers much more easily than a big faceless brand could. Creating a special experience for your customers such as developing an outstanding loyalty program or offering a unique subscription service tailored to the needs of your customers will make you stand out as a brand.
Other ways to compete
Besides this, there are several other shortcomings that you can benefit from. One of these areas is product descriptions. While the descriptions that Amazon displays next to its products are generally informative and helpful, you may be able to offer customers much more detailed information on products in the niche that you are specialized in. Take advantage of this expertise when creating marketing content and campaigns. You can also build a loyal following on social media that is specifically interested in your products.
These are just some of the ways in which a brand can overcome the Amazon giant and do the unthinkable – compete. Get creative and use your strengths to your own advantage.
