Want to know how to compete with Amazon?
First, you gotta know who you’re competing against. Can’t win if you don’t know how good the competition is.
And in this case, your competition is really, really good.
Slice Intelligence reported that 43% of all online retail sales in the US went through Amazon in 2016.
That's up from 33% in 2015 and 25% in 2012.
Amazon is more valuable than almost all the top brick-and-mortar retailers combined, according to Business Insider; if you add together the market caps of Walmart, Target, Best Buy and others the total amounts to $297.8 billion.
Amazon is worth $356 billion.
Amazon has a fleet of 45,000 robots across 20 fulfillment centers.
There’s a bidding war going on between 20 cities and states to be the home for Amazon’s HQ2.
And since 2000, Amazon has received $1.39 billion in tax subsidies from at least 129 cities, counties, and states.
You’re gonna be hard-pressed to compete directly against this E-tail behemoth.
But thanks to globalization and automation, small businesses around the world can carve out space for themselves and thrive in today’s economy even in the wake of Amazon’s dominance.