20 Jul Fred Parrish: How Can Small Businesses Compete Against Big Tech Companies?
The recent Amazon Prime Day didn’t go as smoothly as hoped. Behind the screens were glitches, failed landing pages, and problems with the shopping navigation. Fred Parrish highlights the importance of preparation, test runs, and having realistic expectations of potential outcomes, especially as a large company.
“They may never tell us exactly what happened, but I can tell you that they were reporting that about 54% more people this year. They had quite an increase in volume. Maybe they just didn’t anticipate that…They did $119 billion in revenue last year, so obviously they’ll weather the storm. But much smaller companies, if they’re not prepared and they have similar problems, that could be a major issue and could have long lasting effects.”
Smaller companies may find it difficult to survive in a world of large companies with mega technology capabilities. What makes them different? The face-to-face, localized aspect of the customer experience, Fred says.
“The small companies are just not going to compete with the technology and that kind of power to get the product to the consumer. However, I think that the smaller companies and the local companies, they can much better develop that personal interaction. There’s no way that amazon can compete with that personal interaction. You know, being face-to-face with that customer. And being a local business and drawing in those local consumers. There’s just no way Amazon can compete with that.”
In his opinion, rural business owners, who might be a little less in realm of technology, need to capitalize on that face-to-face geographic relationship.