Amazon is using big data to dominate the competition

AP/Bebeto Matthews

• Amazon housewares sales increased by 20% last year.
• Amazon sells these products to millennials very well, and has accurate data to help it arrive at the right market conclusions. 
• Big box stores like Bed Bath and Beyond and JC Penney are suffering at the hands of Amazon.

Could the Instant Pot be a harbinger of Bed Bath & Beyond‘s doom? The insanely popular pressure cooker is driving Amazon.com‘s growth in the housewares segment, and the online retailer’s ability to map consumer buying habits gives it a competitive edge that could make it unrivaled in the space.

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A report by One Click Retail reveals that housewares is second only to consumer electronics in importance for Amazon, which means that its prowess at extracting and analyzing data about its 300 million active customers “with unmatched accuracy” should be of significant concern to any retailer counting on that niche to revive its own fortunes.

See the rest of the story at Business Insider

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