[WEBINAR RECAP] Retail Reinvention: Amazon’s Whole Foods Play & What It Means for Retail

Alex Salai
Alex Salai
Marketing & Social Media Specialist

Amazon’s pending acquisition of Whole Foods has cast a shadow over most all retail news, and the deal is shaping up to have long-lasting impacts across all retail segments, not only grocery.

On Monday, July 10th, two industry thought leaders sat down and discussed the deal that has been eclipsing the retail sector for the past several weeks: e-commerce giant Amazon and their presumptive acquisition of grocer Whole Foods. Alexei Agratchev, CEO and Co-Founder of RetailNext, and Oliver Chen, Managing Director & Sr. Research Analyst at Cowen & Company, LLC, optimistically focused conversation on how to remain defensible against the power and prevalence of Amazon – being “unAmazonable.”

Watch “Amazon’s Whole Foods Play & What It Means for Retail” on demand.

With it next to impossible to compete with Amazon on price and product, the requirements for success go far beyond a physical retail space. Alexei’s focal point was the importance of investing in well-trained sales associates and emphasizing the individuality of each store location. This means creating a community around your brand and excelling in your individual sector.

The optimal approach to creating consumer loyalty is to offer shoppers a memorable and frictionless experience in the store and online. The question retailers must ask themselves is how to best serve the customer across the board.

From a Cowen & Company, LLC monthly shopper survey, Oliver reported, “76% of surveyed individuals prefer to shop in stores, whereas 18% prefer to shop on Amazon, and 7% on a brand website.” This means there is a huge chunk of shoppers eligible for courtship by retailers. Through the adoption of technology, retailers can seamlessly create a relationship with their shopper, which will ultimately lead to maintained profitability for a brand.

To view and listen to the entire discussion between Oliver and Alexei, access the recorded webinar today.

Join the #retail, #inspiringretail and #SmartStore conversations on Twitter @alex_salai & @RetailNext, as well as at www.facebook.com/retailnext.