Did Walmart's lag in identifying changing market conditions affect their ability to compete with market leader, Amazon?
FT. LAUDERDALE, FLORIDA, USA, July 13, 2020 /EINPresswire.com/ — Walmart will soon launch Walmart+ in an attempt to compete with Amazon's multifaceted, industry-leading selling platform. Walmart+ will serve as a subscription service that will emulate Amazon's portfolio offering release in 2005. Walmart already offers free shipping on some products but will now attempt to bolster sales with many same-day delivery offerings, including groceries and other products, in addition to gasoline discounts.
Amazon, the Seattle-based tech and commerce giant, may have a good reason to wonder if the new Walmart+ platform will gain enough attention to make a dent in their sales. However, the threat of being overtaken as the market leader is likely not even registering on Amazon's radar.
“Walmart waited far too long to adapt to market conditions in its strategy. It’s too late to compete with a well-oiled machine like Amazon,” said Zach Hoffman, CEO and Founder of Exults Digital Marketing Agency. “Amazon offers a wide variety of services that will take Walmart years to develop and efficiently master. By that time, Amazon will be strategically moving on to the next big thing in the evolution of commerce and technology.”
Digital content delivery, movies, and music are deliverables that the general public enjoys on a daily basis. For niche markets, Amazon takes their offerings to the next level with a cloud-based web development platform, a seller-fee free homemade item platform, and much more. As such, Amazon is currently worth approximately four times that of Walmart.
The mere fact that Walmart lacks inclusion in the tech world's acronym FAANG (Facebook, Amazon, Apple, Netflix, and Google) is reason enough to predict that Walmart has taken a wrong turn in their marketing plan if they wish to compete. As one might say, too little, too late.
According to recent news, Walmart+ will carry a $98 annual fee, while Amazon’s basic annual fee is currently $119. Cost comparison aside, Amazon’s 15 year head start over Walmart in subscription delivery memberships reinforces customer loyalty, and Walmart+’s lower price is not going to be enough to lure users to switch providers.
This is the most transparent reflection of one company that took strategic advantage of internet marketing versus one that grew complacent over a several-year period. Internet marketing and digital strategy is an ongoing and ever-evolving investment. Experts need to keep watch of daily changing market trends and strategies, with updates becoming more frequent, and competition becoming more dense, it is imperative to learn from the epic lesson of Walmart vs. Amazon. Essentially Walmart has been beat aggressively by Amazon’s first to market actions, betting on Walmart is a very, very far long shot and we would advise learning from their complacency – we can’t emphasize this enough.
During the COVID-19 pandemic, Exults has seen many businesses freezing their marketing budgets for the unforeseen future. However, Zach Hoffman proactively cautions against this idea in the ever-evolving world of online selling. Hoffman further said, “Right now is the time to update your website, build your digital campaigns, and expand your strategic marketing plan for the future. If you want to emulate Amazon, the time is now!”
More About Exults Digital Marketing Agency
Exults Digital Marketing Agency is a full-service internet marketing company that is results-driven. Offering a complete range of digital marketing services to reach clients' goals, Exults premier services include Website Design and Development, eCommerce platform development and management, Search Engine Optimization, Pay Per Click Management, Social Media Marketing, and Digital PR. If you are interested in using targeted advertisements to spark meaningful engagement and online sales, contact Exults Marketing Agency.
For more information, please visit the Exults website (https://www.exults.com/) or call 866-999-4736.
Source: EIN Presswire