Here are how retailers can remain competitive as Amazon is poised to Dominate the Fashion industry:
Retailers must have competitive prices
Traditionally, retailers needed only to focus on their community and district when it came to price competition. Where there was a bit of fluctuation between the various geographic locations of larger markets, prices could remain fairly secured so long as the other store’s prices were a bit higher. In today’s economy, it is not so. Many consumers use physical stores view fashion trends and combinations, only to return home and seek out the best deal online. Therefore, it is essential that you have a Price Tracker and Competitive Price Monitoring in place. These devices will show the retailer which fashion industries are offering the same product for a lower price. Retailers can then adjust to Competitive Pricing, more idealistic to the demands of the consumer. For online ecommerce sites, this not only puts your products within a competitive market locally, it helps your fashion designs to get noticed globally.
Your ecommerce site must be SEO saturated
In order to be competitive, you must be seen. A site which is not seen is a site which will not see any growth. Building your SEO is more than just placing well tagged images and keywords on the site. There is a strategy to building up the content of your site. Amongst such SEO strategies is Competitor Analysis. Do not only compare the prices of your product to those of your competitor, but also see how their sites are constructed, what words are being searched for in the top engines, and which pages have the highest probability of seeing customers based upon the search results. Once you have established which product pages need to be saturated with SEO, build up organic content on such products in order to stay above the competition. One of the reasons that Amazon products seem to show up the most in searches is due to product reviews and organic content. Should your fashion products have more reviews and you have more organic content on the product (blogs, video, tags, pictures, Facebook snippet shares, etc.), your sites will show up first in the SERPs and thereby get more visitors.
Offer Push Notifications instead of emails
While emails continue to dominate the ecommerce industry, it may be a bit of a misconception to those in charge of marketing. Yes, emails are sent between friends and between departments, but the days of customer to commerce relationships through emails may be dwindling. This is mainly due to the massive number of Smartphones, tablets, and other hand held devices on the market. According to internetlivestats.com there are over 2 million smartphones sold a day, close to 2 billion Facebook posts per day, and over 2.3 billion Google searches per day. Clearly, the use of smartphones and such devices to browse the internet and social media has taken precedence in today’s economy. As such, fashion retailers should cater to the users of such devices. Push notifications are preferable over the standardized email. These notifications can allow them to price compare products or can inform them when a selected fashion is available.
Don’t offer your fashions on Amazon
It may sound a bit obvious, but if you do not want to be outdone by Amazon, do not have your fashion designs marketed through the site. Integration within Amazon is often done by retailers are a means of quick and easy marketing. And although this does boost your presence on the web, it also minimizes your overall profit margins and stock worth. Think about it. As your product sells, it is not your retail site which climbs in the SERPs or in the stock market, but rather Amazon’s. Your product may be selling in substantial quantities, but unless they are doing so through your site, the results are not being recorded online.
If you wish to remain competitive as Amazon is poised to take over the fashion industry, you must have competitive prices based upon actual data in the ecommerce market, you must be able to provide your customers with customer service in a fast-paced instantaneous word without the use of emails which will be marked as spam or deleted without reading, and you must not cater your product to the public through Amazon.
Consistent monitoring of your competitor’s activity is crucial to being efficient and effective in today’s ecommerce. Automate this process with tailored reports and recommendations rather than doing the work yourself.