Online retail giant Amazon.com had a record-breaking 2017, spurred on by both new initiatives and long-standing practices that have been effective in targeting consumer interests. Amazon’s acquisition of Whole Foods slashed prices on groceries to the delight of health conscious customers everywhere. The company tapped into increasing interest in voice recognition technology by rolling out Amazon Echo devices, which became a top seller during the holiday season. And, Amazon Prime membership rates reached new levels this past year, revealing how much shoppers value quick and cheap online shipping options.
In the face of Amazon’s tremendous growth, it’s easy for retailers to despair. However, while it’s true that Amazon has advantages over other merchants -and especially e-commerce merchants- it also has its drawbacks. Here are several ways you can maintain a competitive edge over Amazon:
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