Facts are that the e-commerce industry is booming! According to FDIH, “In 2017 a total of 176 million purchases was made online in Denmark with a total consumption of 114.6 billion DKK.’’ This is an upward trend from 2016 by 9% and 14% respectively. Just look at the 3 top reasons why Danes prefer to shop online:
So what would Amazon in Denmark mean for the retail business? The above reasons clearly indicate that it is an advantage-Amazon situation. With Amazon already being, the fourth most used e-commerce site in Denmark, there is both challenging and wonderful time of increased pressure ahead of us. Let us look and some of the reasons why retailers can get riled up over this:
On the other hand, there's also reasons why retailers should feel excited:
I am estimating that while the e-commerce market is going to expand further, it is going to make the life of brick and mortar retailers tough. It is important for retail businesses to challenge the Amazon way - change the customers’ view on what level of service could be expected from their retailers. It is time for the retail organizations with vision and a strategy to take the role up of delivering exceptional customer experience. If you are not a customer-centric business, put together a strategy to be customer-obsessed!