I have sat in forums surrounded by independent and regional retailers and listened to their disdain for Amazon—even though they probably frequent the site for their own family. Recently, my office manager was kicked off of Amazon. Yes, you read that right. How can you live without using Amazon? Guess what, she survived. There is life without Amazon. This blog explores 4 ways independent and regional consumer technology retailers CAN compete with the likes of Amazon and Best Buy.
Guess how Amazon makes all of their money? Advertising. They don’t make their money from the products they sell or deliver in a day, but they make billions on advertising. Customers browse e-commerce sites when they are considering a purchase. Especially when it comes to a large purchase like an appliance or a high-tech camera. You can have sponsored ads and banner ads on your site, but did you know you can also sell ads on product listing and product detail pages? If you have an advertising sales team, they can sell more inventory with this advancement in retail media placement. Plus, since it is located on or near the product, it is more relevant for the shopper. See the video below for more detail.
Let’s say you have an appliance store with several locations. Make sure each storefront is involved in their local neighborhood because Best Buy is already tapping into local markets more aggressively. But guess what, consumers like to support their local businesses so make yourself visible in your community. Donate product, volunteer, support school athletic teams, sponsor an e-waste program and make your brand visible. Get customers into your store by offering cooking classes and demo the products you sell. Mrs. G’s is a great example of a regional retailer that offers this to its community of shoppers. The obvious benefit is you feel good about helping your community and consumers will feel good about supporting your business.
Patty Jensen is Vice President of Account Services at JDA, Inc., a graphic design firm that specializes in supporting companies’ branding and retail efforts with a Unified Marketing approach.