Retailers Get Creative to Compete With Amazon
Competition from online merchants forces stores to cut prices and expand offerings.
Apple and Best Buy have long used airport vending machines to sell headphones, chargers and gadgets. Now you can also buy items from Benefit makeup, CVS Pharmacy and Japanese clothier Uniqlo at company-branded vending machines in airports, public transit stations and other high-traffic areas. Other brick-and-mortar retailers are turning to new tactics to reach customers, too. Nordstrom recently opened a new store that doesn’t sell merchandise. Shoppers who visit the new West Hollywood, Calif., location, which has a 3,000-square-foot footprint (compared with 140,000 square feet for the typical Nordstrom store), can meet with a personal stylist, pick up online orders or make returns. The store features manicurists and tailoring services, and you can even stop at the bar for a beer or a glass of wine or, if you prefer, a non-alcoholic beverage.
Other retailers are fending off competition the old-fashioned way—by cutting prices. After Amazon bought Whole Foods in August, it signaled that it would play hardball by lowering prices on some items, including organic avocados and organic large brown eggs. Within days, Target announced that it would reduce prices on thousands of household staples ranging from cereal to paper towels.
Sign up for Kiplinger’s Free E-Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
Get Kiplinger Today newsletter — free
Profit and prosper with the best of Kiplinger's advice on investing, taxes, retirement, personal finance and much more. Delivered daily. Enter your email in the box and click Sign Me Up.
-
Setting Objective Criteria for Employee Bonuses Aligned With Company Goals
When employees win, the company wins.
By Stephen Nalley Published
-
A Modern Guide to Money Etiquette: Gifts, Tips, Splitting Bills and More
What is modern money etiquette? The customs for splitting a restaurant check, purchasing a wedding gift, tipping and more have evolved. These guidelines can help.
By Emma Patch Published
-
403(b) Contribution Limits for 2024: Good News for Teachers
retirement plans Teachers and nonprofit workers can contribute more to a 403(b) retirement plan in 2024 than they could in 2023.
By Jackie Stewart Last updated
-
Roth IRA Contribution Limits for 2024
Roth IRAs Roth IRA contribution limits have gone up for 2024. Here's what you need to know.
By Jackie Stewart Last updated
-
Four Tips for Renting Out Your Home on Airbnb
real estate Here's what you should know before listing your home on Airbnb.
By Miriam Cross Published
-
Five Ways to a Cheap Last-Minute Vacation
Travel It is possible to pull off a cheap last-minute vacation. Here are some tips to make it happen.
By Vaishali Varu Last updated
-
How to Figure Out How Much Life Insurance You Need
insurance Instead of relying on rules of thumb, you’re better off taking a systematic approach to figuring your life insurance needs.
By Kimberly Lankford Last updated
-
Five Reasons You Shouldn't Shop on Amazon Prime Day
Smart Buying Think twice before getting lured into buying a bunch of stuff you don't need just because it's on sale.
By Andrea Browne Taylor Last updated
-
Amazon Big Deal Days Is Coming! We’ve Got All the Details
Amazon Prime To kick off the holiday season with a bang, Amazon Big Deal Days runs Tuesday, October 8 and Wednesday, October 9.
By Bob Niedt Last updated
-
How to Shop for Life Insurance in 3 Easy Steps
insurance Shopping for life insurance? You may be able to estimate how much you need online, but that's just the start of your search.
By Kaitlin Pitsker Published