Changes in what people want and where and when they want it means all companies must move faster.
Instant gratification is becoming a consumer want. I read an article on how Amazon and Walmart are speeding up their deliveries. The following is a summary:
“A key benefit of Prime membership is two-day delivery lead times at no additional cost. As of July 2018 Amazon operated 122 fulfillment centers in the US, with a further 44 in planning or construction. Items are picked, packed and ready to ship two hours after a customer order is placed.
Where Amazon has led, the rest of the industry is following rapidly. Walmart is developing a network of dedicated e-commerce distribution centers designed to allow next-day delivery of online orders to 90 percent of the US population. “
These two giants along with other top retailers and service providers are making big investments to secure their position in the online space, acquiring e-commerce rivals and same-day logistics players.
I bring this issue up because these two firms along with others are changing consumer expectations. As small business owners we have to compete! Technology has advanced to such a degree that it knows your likes and dislikes, thus giving the appearance of a “human” on-line touch.
Amazon started as a book seller and now offers almost every imaginable product for sale and is looking at providing more services. Defining your own niche, as small business owners, will require speed of delivery of your products and services, along with a real human touch.
I believe that communications are part of the foundation we have to build to survive and grow. How are your prospects reaching you and how fast can they buy a product/service or get an answer to a question.
BizQuack is working hard to stay ahead of the curve and to share thoughts and options on how to stay competitive and profitable. Look for more on this topic in the future.
Tips & Advice by Nick Petra, CFP – Founder of Strategic Duck and BizQuack
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