Only Half Of Aussie Businesses Are Ready For Retail Giant Amazon

A Marketo survey shows that the international giant’s arrival will “fundamentally change what customers expect from businesses”.

The senior marketing decision-makers’ study shows only 46 per cent of the nation’s CEOs believe the global giant’s Australian touchdown will “not affect” their businesses. However, 13 per cent believe they will lose out on sales.

More than 20 per cent of businesses have vowed to up their game to go toe-to-toe with the US retailer — saying they are going to prepare to “better engage with customers like Amazon does”.

Many business leaders also saw international companies as a threat to their existence. A quarter of CEOs said “global, competitive incumbents entering the market” was the biggest concern for the future of their companies.

Chris Connell of Marketo ANZ said Amazon’s arrival is a gamechanger — not just for retailers, but across every business category.

Chris Connell of Marketo ANZ said Amazon will change the way shoppers interact with Aussie businesses.

Chris Connell of Marketo ANZ said Amazon will change the way shoppers interact with Aussie businesses.Source:ThinkStock

“It will change the definition of what ‘good’ looks like,” he said. “And this will put pressure on all marketers — not just in retail, but in financial services, education, and so forth.”

But it is not all doom and gloom, Mr Connell believes this is a “watershed” moment for Aussie brands to reinvent themselves.

“Now all Australian retailers have the ability to leverage customer engagement technology to forge emotional connections with customers, which become cornerstones of competitive differentiation,” he said.

“They just need the desire to change, and the know-how to make it a reality. Amazon have shown the way, now it’s up to Australian retailers to drive world-class engagement strategies for the next wave of innovation.”

Source : http://www.news.com.au/finance/economy/australian-economy/only-half-of-aussie-businesses-are-ready-for-retail-giant-amazon/news-story/8f90c4794e41eec00a588ed1725696c2

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