E-Retailing: Selling Products on the Web
Retail is one of the more visible market sectors on the Web. In retail, merchants sell products and services directly to a buyer. E-retail, also called e-tail, occurs when retailers use the Web to sell their products and services (Sanchez 16). E-retailers constantly challenge the old ways of conducting business as they bring new products and services to market. All e-retailers, however, operate in a similar manner.
A customer (consumer) visits an online business at the Web equivalent of a showroom: the electronic storefront. An electronic storefront, also called an online catalog is the Web site where an e-retailer displays its products. 1[1] It contains descriptions, graphics, and sometimes product reviews. After browsing through the merchandise, the customer makes a selection. This activates a second area of the store known as the shopping cart. The shopping cart is a software component on the Web that allows the customer to collect purchases. Items in the cart can be added, deleted, or even saved for a future visit.
When ready to complete the sale, the customer proceeds to the checkout. At this time, the customer enters personal and financial data through a secure Internet connection.
Then, the e-retailer processes the order and sends it to the fulfillment center where it is packaged and shipped. The e-retailer notifies the bank of the shipment; and payment is sent via electronic channels to the e-retailer. Inventory systems are updated. Shipping information is posted on the Web, so the customer can track the order. The customer typically receives the order a few days after the purchase. (Microsoft Word 2002 Project).
E-retailing presents a new way to shop. The store is open 24 hours a day. With a few clicks of the mouse, consumers can compare prices easily. The key rule for purchasing online is the same as for traditional purchases. That is, the best consumer is the best-informed consumer.
E-commerce/ Online industry is a maturing industry but fails to attract purchase of daily consumer durables due to higher prices and longer fulfillment times. Grocery stores fail to offer a viable substitution due to high prices.
Retailing includes all activities involved in selling goods or services directly to final consumers for personal, non-business use. A retailer or retail store is any business enterprise whose sales volume comes primarily from retailing. Any organization selling to final consumers – whether a manufacturer, wholesaler or retailer- is doing retailing. It does not matter how the goods or services are sold (by person, mail, telephone, vending machine or internet) or where they are sold (in store, on the street, or in consumer's
Example. For example, if a user needed to enter the sale of a product on credit to a customer, if the customer has already been entered into the system and the inventory item is already set up to be tracked by the system, the user would need to enter the customer and what was sold and any additional information which differs from defaults. If the sale was preceded by a sales order, the product information can simply be imported from the sales order. The user can then print the invoice, send it to the customer, and wait for payment to come.
Internet retailing, a fast-growing process with sales increasing 15 to 25 percent annually, allows shoppers to order while visiting retailers online (examples: amazon.com, eBay, Google Express).
In online marketing, a shopping cart refers to the e-commerce software that allows customers to add the probably purchasable item on the “cart” and upon check-out the software calculates total for the order, applicable tax and shipping and handling. In a nutshell, shopping cart software is like the check-out counter at the store. Most eCommerce shopping carts provide the basic fundamental functions of product addition and final cost calculation. There are also some fully featured shopping cart software that includes an all-in-one solution that will have all the tools needed to build and run an online storefront. By blog is based on travel and food.
Retailing involves a direct interface with the customer and the coordination of business activities from end to end, right from the concept or design stage of a product or offering, to its delivery and post delivery service to the customer. It is necessary to understand that in the complex world of trade today, retail would include not only goods but also services, which may be provided to the end consumer. In an age
John Walsh, Sue Godfrey In 2001 E-commerce, or shopping electronically through the internet, is reforming the way retailers work together. E-tailers offer preferable client benefit over their blocks and mortar partners. They customize destinations, make open doors for customization and give included esteem. They regard clients as people rather than portions.
Internet has allowed the use of credit cards by the internet. With this internet shops may attract customers through the Internet, shopping online has become a standard thing. Millions of appliances, furniture, toys, and electronics are sold and bought on the Internet, both in terms of shopping websites and sites such as EBay or Amazon.
A invoice is sent by the manufacturer which is cross-checked with the purchase order and documents specifying which goods have been received. At last the payment is then made and transferred to the manufacturer.
Based on these concerns, retailers in the international marketplace have their work cut out for them. But through proper education of consumers, and the ever-expanding growth of the infrastructure in many countries, the future seems to be leaning heavily towards using the Internet for many needs.
EC includes business interaction with consumers where companies sell directly to consumers over the Internet. In terms of retail, Business- to – Consumer applications have increased revenues, and eliminated costly intermediaries like distributors, warehousing, etc. In addition, with the development of EC, the use of catalog or television shopping channels are becoming less popular. The former, limits an individual to what is seen on the screen or paper rather than the latter – EC that allows a wide variety of products. Shopping online also offers 24-hour service, the luxury of shopping for an item at your own convenience and detailed information of products and their prices, even when they go on sale! With the use of EC, distribution channels are eliminated maki...
The Internet is rapidly becoming widespread and widely used as a tool for globalization across the world. As the Internet became more easily accessible by most people in the world, the web is bringing significant implications and changes to the way we live, including the way we shop. There is a rapid growth with e-commerce and moving businesses onto the web and retail success is no longer about stores and shopping centers. In developed countries, about two thirds of the population have access to the Internet making the option of online shopping is easily accessible to most people (Valerio). With the ease of shopping in your own home there are many benefits of doing your shopping online. Consumers can easily compare prices online, there is a larger range of products on the web, you can save time by having your shopping delivered right to your doorstep and it also overcomes physical barriers. Over the last decade online shopping has challenged and replaced the traditional means of physically going into shops as the digital world has provided customers with further convenience, flexibility and comfort from shopping from your own home.
The Information revolution is changing our daily lives. With the rapid development of computers and the internet, online commerce has become quite common and plays an important role in the modern world. Online business has been booming in recent years. US online retail sales rose an average of 11% in the first three months of 2009 (“US Online Sales Up,” 2009). The growth of online sales may be due to the growing number of consumers who shop online.
In today’s era “INTERNET” is playing a significant role in our daily life. People can walk through the internet to one who is actually living on the different side of the planet, can send mails round the clock, search information & even buy things online. With this invention of internet there is a shift in traditional way of shopping. Now there is no need to open a physical store. One can be active at any time and place and purchase products and services. The number of users of internet is increasing day by day which means that online shopping is increasing. Various characteristics of online shopping is making it more convenient for the customers, as compared to traditional way of shopping such as the ability to view and purchase goods and
E-commerce application is a platform where there is buying and selling of products and services which are done by businesses and consumers via an electronic medium, mostly without using any paper documents. “E-Commerce applications support transactions between businesses and their customers. They provide 24/7 customer support, allowing customers to order products, check orders and track shipping, review previous orders, reorder products, and manage their accounts.” (Auburn SeeWolf llc , 2009-2012)