E-Commerce: A Customer Revolution
Customers in the new e-commerce generation should expect an experience that is personal, from customer service to products being offered, it’s all about the customer. With consumers turning into retail grazers, an electronic commercial transaction is forced to offer added value beyond just being a distribution point. Customers can and should expect an experience because ecommerce has come a long way in the last 15 years.
According to eMarketer, worldwide business-to-consumer ecommerce sales will increase by 20.1% this year to reach $1.5 trillion. Businesses are succeeding and thriving in ecommerce trends by delivering great products, articulating their missions, and aligning themselves with influencers who can talk about their brands for them.
The Millennial generation, hardwired for shopping, is the driving force behind this retail revolution. Millennials have grown up in a digital world and they ultimately want to serve themselves.
Customer Service
This shift in power from the seller to the buyer is mutually beneficial to the consumer and busines...
In recent times it has been well documented and reported that the way in which retailing is changing. Alongside the former methods of ‘’bricks and mortar’’ stores, modern day retailers must now ensure that their goods and services are available by means of various streams, including websites and mobile apps. (Benady, D. 2014) But it is not only retailing which have changed; the consumer is becoming savvier and increasingly sophisticated. Consumers are expecting more from retailers and now expect a ‘’seamless shopping experience’’ however way in which they may interact with the retailer. (Benady, D. 2014)
Technology plays a big part of the e-retailing industry. It has many positive qualities that impact the industry. Technology simplifies the purchasing process. Since the industry is web based, it helps eliminate the nuisance of not having products when wanted by having the capabilities of placing orders 24/7 at any computer with web access. Technology will also standardize the purchasing process thus reducing processing costs associated with traditional processing.
You have to figure out what their needs are right now so you can prepare for the stores future. This generation was born into technology and it is very important to them. In order to draw them into the store, you have to figure out how to make their instore experience interactive and technologically advanced or else we’ll miss the market. Based off numerous studies, Gen Z cares about participation and engagement when it comes to building relationships with brands and followed by that, they value quality over quantity.
This generation is in need instant gratification from all sources. What used to be the norm like going to the store to shop compare prices is now done on line form the house. The attention span of the average millennial is short. At any given time a person has roughly 3 seconds to capture the attention of a person before they are on to the next subject.
They expect more from retailers every day better value, more convenience and solutions that help them save time. Technology has given consumers almost limitless choices when it comes to what to buy, how to buy it, and how much to pay for it and they are taking advantage of it in increasing numbers. We are broadening our offering by growing our online businesses, developing our store formats and improving our assortment to give our customers shopping alternatives that meet their changing needs. We are accelerating the growth of our online businesses so our customers can shop when, where and how they want either in our stores or online,
When discussing the topic of millennials or formally known as Generation Y, most will receive two different sides. Depending on who is asked, millennials range from 1980-2000 mostly making them made up of teens to 20’s. Millennials today are either looked at as the narcissistic generation, or they get classified as educated and skilled. While today’s world is mostly revolved around a technology or social based atmosphere, this gives managers a new way they need to cope with the new generation of upcoming employers. With always having technology in their lives this helps give the two sides of how millennials are viewed. On a positive and supporting standpoint, millennials being so technology driven helps businesses
Millennials are conservative spenders who want to have all information—peer reviews, best prices, business practices---before the purchase decision.
Marketing involves making consumers aware of the value of a product or service offering with the aim of increasing sales for the product or services, developing brand loyalty, and promoting the good or service. There are several techniques used by companies in marketing. These techniques are aimed at ensuring consumers are aware of how the new offering by the company satisfies their needs. Further, application of sound marketing techniques ensures that marketing is an exchange process that results in the long-term relationship. Transactional marketing and Relationship market are two of the common types of marketing applied by organizations who seek to develop their long-term relations with consumers or increase immediate sales for a product
Cooperation increases mutual perceived economic and psychological satisfaction (Geykens et al., 1998; Cannon and Perrault, 1999; Parsons, 2002; Cambra and Polo, 2007) and improve the buyer-supplier bonding. Therefore, I propose
Li, F 2007, What is E-business ?: how the Internet transforms organizations, Blackwell Publishing, Oxford.
Going to the mall is like being at a zoo. Herds of inconsiderate teenagers crowd the walkways, girls fight over the best pair of shoes, and the merchandise is thrown all over the place. Imagine being able to have a stress free day of shopping without annoying kids running around and the ease of looking at perfect displays that have not been touched by the grimy hands of children. If you could eliminate the younger population from the mall, shopping would be much easier for everyone. Parents can enjoy their day out, girls-day won’t be interrupted by kids running a muck in the store, the employees jobs will be easier by not having to fix the displays that were messed up by children, and the amount of merchandise stolen will decrease if the younger population sticks to online shopping! Shopping
As Generation Y, we are 63 million members strong and spend more than a billion dollars annually (Marketsource). With such spending power it is easy to see why companies choose us as their target market. We have grown up in a "'consumption culture" are "taught that (we) will be satisfied if we purchase products to fill our wants and desires" (Youth in the Third Millennium). Perhaps this need to buy things is only a progression ...
In conclusion, E-commerce looks more promising in the future. With the evolution of the E-commerce application, every business should take advantage of it. I believe it is the new way of reaching out to a large clientele. In future physical business locations would become more of a showroom. This would simplifier customers way of shopping. Like any other project, E-commerce application needs to be managed probably to succeed and be able to compete in the future.
The high take-up of the Internet leads to variety of opportunities in front of companies. People are more online than ever. They spend many hours each day on Social Networks such as Facebook and Google+. It is no wonder that buying and selling can now be done in a more convenient way. Although traditional shopping is still thriving, online shopping can be an alternative for people wanting to save time and money. If a certain customer plan to go shopping, it could be stressful and also be time consuming. E-business has made shopping or any kind of transactions online much easier and convenient. It introduces new facilities, opportunities and way of shopping for both vendors and customers.
The Internet has received a great deal of attention in the media lately due to its tremendous