When it comes to shopping, Jeff Bezos, CEO of Amazon knows a thing or two about the subject, which is why it was fitting that he was the keynote speaker at Consumer Reports’ ShopSmart magazine summit on May 11. The founder of the leading online retailer offered insights on the consumer and the future of the industry.
Much has changed since Amazon’s founding and Bezos emphasized the importance of keeping up with evolving technology. He noted that 15 years ago at best a person had one desktop PC with a dial-up modem in their home, and now people are shopping on all kinds of devices. According to Bezos, the tablet will be especially big as more and more people overtime will shop from one of these devices. In that vain, Amazon has launched a window shopping app for tablets.
As technology evolves, Amazon is finding more ways to stay ahead of the competition. The company’s recently launched Myhabit.com is the next wave in apparel commerce, Bezos said. The innovative website enables shoppers to view video of live models wearing the clothing, enabling them to get a better idea of the look and fit of the garments.
Another growing area in retail is social commerce, which Bezos said for Amazon means revisiting early experiments that may not have worked 10 years ago but could be successful today.
While technology has offered more opportunity for innovation in retail, Bezos chooses to focus on the basic needs of the customer, which are low prices and fast delivery.
“The Best customer service is if the customer doesn’t need to call you, things just work. We want to raise the bar on customer experience,” said Bezos.
To that end, Amazon.com has created an experience that is about building trust with consumers. The website greets each customer by name and even lets him or her know when they attempt to buy an item if they have purchased that item from Amazon before. The retailer also allows negative comments, all in the name of building trust.
And trust is something all retailers will have to work to strengthen with their customers. More data breaches at top companies mean shoppers are increasingly concerned about their security. According to Bezos the responsibility for protecting personal information lies with the retailer and consumer. He noted that all companies should adhere to minimum credit card standards of security and customers should choose harder passwords and chang