Source: TheDrum
32% of marketers have admitted to losing sleep due to fears about how Amazon will impact their business, according to a new survey released by full service digital agency Greenlight.
The survey also revealed that 29% of marketers have yet to address how they will deal with the dominance of Amazon within the marketplace. Over a third of respondents (39%) were also concerned by the online retailer’s monopoly within the retail sales market for events including Cyber Monday and Prime Day, along with worries about competitive pricing (33%) and the way Amazon’s ‘ecosystem’ locks consumers in (28%).
However, the marketers surveyed did identify areas where they could set themselves apart, such as by offering better customer service, with 39% believing they do just that, and 36% of respondents believing they offer niche expertise when it comes to the products they offer.
Andreas Pouros, CEO at Greenlight, said: “It is no surprise that Amazon’s dominance concerns businesses, who are being made to question how they can compete. But it doesn’t need to be seen as a competition or threat. Amazon provides an immense opportunity for businesses wanting to reach a wider audience, whether that be through digital advertising space or access through global distribution. Digital marketers can’t ignore the sheer value of Amazon’s global marketplace and captive audience. Partnering top quality customer service with effective brand communications via Amazon’s advertising capabilities is the most effective way to work together moving forwards – be that for small, independent retailers, or larger organisations. The focus on the customer experience and customer service remains at the heart of the competition. Only once this is widely accepted will businesses with niche expertise and high quality customer service co-exist and thrive in a world where Amazon continues to deliver on large scale eCommerce efficiency.”
The survey was made up of 201 digital marketers from across the UK and conducted by Viga research house in April 2018.
