How Retailers Are Fighting Back Against Amazon
For retailers, selling the latest Samsung television or pair of Nike sneakers is no longer the advantage it once was. Instead, as the internet’s omnipotence has made it effortless for consumers to price shop, the same national brands that can generate major traffic for a retailer can also be a liability. Because of price-matching policies at many traditional retailers — put in place to avoid losing sales to competitors — peddling popular national brands can likewise whittle away at their margins. Even when these policies are not in place, retailers can nonetheless be strong-armed into lowering prices on these types of labels. As such, department stores are taking things into their own hands. By ramping up their focus on private-label brands, which are designed by an in-house team, and bringing in established brands that are exclusive to their stores, these retailers are curating unique assortments that can’t be found — or sold for less — anywhere else. Read more at The Fiscal Times.
