Australian convenience stores will have to prepare themselves to compete with the arrival of Amazon, which presents several new challenges for retailers. In order to broaden their appeal in the face of competition, retailers can take the steps of abolishing payment restrictions, including minimum charges; stocking inventory designed to appeal to customers outside their usual bases, including attempting to appeal to women and millenials, and; forging connections in local communities to offer customers products and services that they can feel good about, including ethically sourced items, sustainable power sources, and items for a healthy lifestyle.
Key Takeaways:
- The emergence of Amazon is changing the economic landscape of Australia, and small businesses as well as online retailers are going to need to adjust in order to survive.
- The first point is to abolish payment restrictions. Making your company able to take multiple forms of payment -credit card, cash, apple pay, etc. will help make your company accessible to all people.
- The 2nd point is to cater to previously unmarketed groups. For ex. women and healthier foods in convenience markets. Finally, making conveniences and partnering with other local businesses.
“The highly anticipated arrival of Amazon to our shores have triggered a wave of alarm bells ringing across the local businesses and reactions from across all sectors.”
Read more: https://insidesmallbusiness.com.au/growth-development/innovation-is-key-to-the-future-of-convenience
Leave a Reply