During the holiday shopping season, it’s Amazon’s world — or is it?
Outside the digital sphere, brick-and-mortar holiday sales at big-box shops like Walmart and Best Buy continue to be buoyed by bullish shoppers willing to hit the streets in search of timely deals during consumer-focused quasi-holidays like Black Friday. As a result, shoppers are spending more during the holidays than ever before.
And then there’s the independent, local retailer. How is a small shop supposed to compete with the ease of mobile e-commerce or the allure of big-box doorbuster deals? Turns out, they have an ace in the hole: last-minute shoppers.
Local businesses are struggling to adapt to a world where online reputation drives offline sales, and fake reviews are making the transition harder. What’s more, the fake review problem is getting worse. A Harvard study found that fake reviews on Yelp grew from 5% to 20% over several years.
There are lots of reasons for this trend, but this is an area where big data can be used to the benefit of consumers and businesses to increase trust. This means it’s on the tech community—not small businesses—to fix fake reviews. Just as media platforms have a moral obligation to avoid the spread of fake news, review sites have a responsibility to their users and businesses to ensure their content is as accurate as possible.
Headlines about retail closures suggest it’s Amazon’s world and we’re all just living in it, but there’s more to the story. For local businesses, in particular, there’s ample reason to be optimistic that the retail apocalypse doesn’t have to spell end times. In fact, exactly the opposite could be true. Let’s walk through a few of the reasons for optimism.