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How Traditional Retailers Are Winning Back Customers From Ecommerce Startups

Clark Bell

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Published in Goliath Strikes Back: How Traditional Retailers Are Winning Back Customers From Ecommerce Startups

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In the early days of the internet, many people predicted that brick-and-mortar stores would soon be a thing of the past. After all, why would anyone want to go to a physical store when they could buy anything they wanted online, often at a lower price?

However, in recent years, traditional retailers have begun to fight back. They have realized that they can't compete with ecommerce startups on price, so they have focused on other ways to attract customers.

Goliath Strikes Back: How Traditional Retailers Are Winning Back Customers from Ecommerce Startups

by Peter S. Cohan

5 out of 5

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Here are some of the ways that traditional retailers are winning back customers from ecommerce startups:

1. Creating a more personalized experience

One of the biggest advantages that traditional retailers have over ecommerce startups is that they can provide a more personalized experience. When you shop at a physical store, you can interact with a salesperson who can help you find what you're looking for and answer any questions you have. You can also try on clothes or other items before you buy them, which is not possible when shopping online.

Ecommerce startups have tried to replicate the personalized experience by offering online chat support and virtual try-on tools. However, these tools can't fully replace the human interaction that you get when shopping at a physical store.

2. Offering a wider range of products

Another advantage that traditional retailers have over ecommerce startups is that they can offer a wider range of products. This is especially important for categories like clothing and home goods, where customers want to be able to see and touch the products before they buy them.

Ecommerce startups have tried to overcome this challenge by offering a wider range of products on their websites. However, they still can't match the selection that traditional retailers offer.

3. Providing better customer service

One of the biggest complaints about ecommerce startups is that they often provide poor customer service. Customers may have to wait days or even weeks for a response to their emails or phone calls. They may also be given conflicting information by different customer service representatives.

Traditional retailers have a clear advantage in this area. They can provide immediate customer service in-store, and they can follow up with customers after they have made a purchase. This can help to build relationships with customers and increase customer loyalty.

4.Investing in technology

Traditional retailers are also investing in technology to improve the customer experience. For example, many retailers are now using mobile apps to allow customers to shop, check out, and track their orders. They are also using artificial intelligence (AI) to personalize the customer experience and provide better recommendations.

Ecommerce startups have always been at the forefront of technology, but traditional retailers are now catching up. This is helping them to level the playing field and win back customers.

5. Focusing on local communities

Traditional retailers are also focusing on their local communities to attract customers. They are sponsoring local events, partnering with local businesses, and getting involved in local charities. This helps to create a sense of community and gives customers a reason to shop local.

Ecommerce startups have a more difficult time connecting with local communities. They don't have a physical presence in most areas, and they can't participate in local events or charities. This gives traditional retailers a significant advantage.

Traditional retailers have faced many challenges in recent years, but they are starting to fight back. They are using their strengths to attract customers back from ecommerce startups. By providing a more personalized experience, offering a wider range of products, providing better customer service, investing in technology, and focusing on local communities, traditional retailers are winning back customers.

Ecommerce startups will continue to be a threat to traditional retailers, but traditional retailers are well-positioned to compete. By continuing to invest in their strengths and adapt to the changing retail landscape, traditional retailers can continue to thrive in the years to come.

Goliath Strikes Back: How Traditional Retailers Are Winning Back Customers from Ecommerce Startups

by Peter S. Cohan

5 out of 5