We’re pretty proud of our ability to identify what consumers really expect from brands.
More than a year before Amazon bought Whole Foods our brand assessments identified an area of opportunity for them: groceries. So QED. If you want to hear what we said (and why) give listen to “The Marketplace of Everything” here.
But now Amazon is considering offering a checking account-like product for younger customers who currently don’t patronize traditional banks. And that’s pretty much a business decision. Smart, but more “business” than “brand.”
As big as Amazon is, they still have to pay fees for credit card purchases and bank charges, and a closer financial relationship with customers could help save Amazon big bucks. So, a bottom-line decision. It’s likely to be a partnership with an already-established bank, since the undertaking to become an actual bank would be difficult – even for a company as big as Amazon.
So great brand, with great business sense. It helps to have the financial wherewithal to deliver pretty much anything the consumer expects, but it also helps if you have a brand consumers are willing to engage with.
With engagement levels that guarantee that in virtually any category you’d care to name!
Find out more about what makes customer loyalty happen and how Brand Keys metrics is able to predict future consumer behavior: brandkeys.com. Visit our YouTube channel to learn more about Brand Keys methodology, applications and case studies.
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