Is The Amazon Effect Overrated?
You may have differing definitions of what it means and more importantly what it means if you’re one of the industries affected by the Effect, if you will. Among the many definitions of the term I like this one the best: “The impact the digital marketplace has on the traditional business model regarding consumer expectations and the new competitive landscape.” I know marketers, especially those in the retail space are worried about the effect that Amazon has on their livelihood. This past February, in preparation for its 2017 Executive Leadership Forum, the Global Retail Marketing Association [GRMA] surveyed 100-plus c-level marketing executives regarding their current marketing spend and outlook for the future. Well the Forum is happening as we speak and the results of the survey have been released and this one finding (I share the full findings below) is the one that jumped off the screen at me when I saw it. How could the Amazon Effect not rank no. 1 amongst things that worry retail marketers the most. Read more at Forbes.
