Some successful examples of strategic partnerships include Kohl's partnership with Amazon, Apple Pay's partnership with Mastercard, and Starbucks' partnership with Barnes & Noble. In 2020, Kohl's partnered with Amazon to provide hassle-free Amazon returns at their department stores. This partnership led to an addition of 2 million new customers for Kohl's over the course of the year, with sales exceeding analysts' estimates. The partnerships between Apple Pay and Mastercard, and Starbucks and Barnes & Noble, were integrated so seamlessly that they have become a day-to-day norm for customers.
How do you select the right partners and pool the best resources? Mutually beneficial relationships...
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