How Wal-Mart Can Compete Online
Should brick-and-mortar chains cede the web to Amazon? Wal-Mart has continually stumbled online – it recently lost $20 billion in market cap in part because it announced that it needs to invest more into its ecommerce platform, which will affect profits. Amazon has amassed a giant head start – claiming 244 million customers in 2014. The situation for brick-and-mortar chains seems like a lost cause.
Brick & mortar stores can successfully compete online. Please check out my latest piece for the Harvard Business Review which discusses that yes, while the Internet is hip and technologically advanced, at its roots, it’s a commodity market. As a result, many of the time tested techniques (here’s a hint: think S & H Green Stamps) that have helped commodity retailers can succeed.
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