Amazon challenged other retailers a great deal when it first rolled out, and we saw how valuable curbside pick-up and delivery of anything you want was during the COVID-19 pandemic. Now, Amazon is facing more competition in the market as other retailers are catching up with their technology. Wal-Mart and Target, for example, have since discovered ways to compete with the retail delivery giant. Wal-Mart rolled out its Wal-Mart+ (plus) memberships for $99 a month vs. Amazon Prime’s membership which is $139 a month. With the Wal-Mart+ membership, you can essentially get the same things as Amazon (possibly for cheaper), and they now have their own trucks and distribution warehouses. Target has really focused on their curbside pickup options and seen tremendous success.
There will always be competition between retailers, but it is very interesting to witness a company such as Amazon that was valued at $1.5 Trillion see that it does have competition and won’t always be the shiny mega company in the marketplace. Another advantage Wal-Mart has over Amazon is that it has brick and mortar stores everywhere and as we saw post pandemic, people wanted to get back out and shop at brick and mortar, not just online. Time tells all for retailers, but one thing is certain, they all end up evolving with the times and trends.
To read more, click the link below.
Amazon Is Ubiquitous. But It Isn’t Invincible Anymore. (wealthmanagement.com)
About The Author: Jeff Dervech
Jeff Dervech is a Tampa local commercial real estate agent, specializing in the arena of retail strip center and shopping centers.
More posts by Jeff Dervech