Speed. That’s the answer.
It used to be that big brands beat the small; now fast brands can outpace slow brands. This is happening on Amazon every day. Smaller, nimble brands with a digital-first approach are beating their larger competitors by getting in front of customers quicker and learning as they go.
If you’re getting beaten out there, what do you do?
Start by getting your data.
The shift to digital gives brands direct access to their customers. The closer you get to your customers and to understanding why, how, and when they shop, the bigger the advantage. Data holds the key to consumer behavior, insights, and trends. You’ve got to own it to use it, so take control and get it. Amazon has a lot of consumer data and they are using it to develop products as a pattern of demand develops.
You can do the same.
Originally published by Brian Gonsalves on LinkedIn.