Partnerships Like the Amazon-Kohl's Deal Just Might Save Brick-and-Mortar Retailing | 05.03.21 | finanzen.at

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05.03.2021 16:50:47

Partnerships Like the Amazon-Kohl's Deal Just Might Save Brick-and-Mortar Retailing

Two years ago, department store retailer Kohl's (NYSE: KSS) and e-commerce giant Amazon (NASDAQ: AMZN) expanded a curious partnership. That is, Amazon customers looking to return an online purchase could now take their return to any Kohl's store rather than dealing with the hassle of shipping the item back to Amazon themselves.The idea had a clear upside -- stores need foot traffic, and this was a chance to generate it. On the other hand, the agreement potentially positioned Kohl's as no more than an uncompensated customer service agent for the ruler of online shopping.The idea seems to be paying off more than it's costing the store chain. Kohl's announced earlier this week that handling Amazon returns has brought an additional 2 million customers into the company's fold, and "is accretive to both sales and profit." The company didn't offer any numerical specifics, nor did it say how it knows those 2 million people wouldn't have become Kohl's customers anyway. The fact of the matter is, however, Kohl's sees enough upside in it to continue on with the program.Continue reading
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