E-Retailing Strategy Why E-Retailing Strategy? To evaluate the feasibility of an online retail format. It provides a comparatively low cost alternative channel to the retailers keeping in mind their overall brand and retail strategy. For Whom? • Retailers looking to enhance sales by selling online • Online retailers planning to improve various aspects of their retail offerings • Entrepreneurs venturing into online retail formats
The two industries that have been impacted by the Internet to me are retail and tourism and hospitality. The Internet has impacted retail in so many different ways. In retail every store has an online e-commerce store and now there’s websites such as Amazon.com. You can pretty much find whatever you would like and have it shipped to you within two days. Online retail has made it impossible that if it’s not carried in the store you can order it or have it ordered from the store so that it can be shipped to you. Companies are using Internet to make sure the consumer is happy while not putting their company in jeopardy of losing business. But it’s hard for storefront businesses to compete with just Internet based like Amazon. Amazon allows
In the 21st Century, shopping is not just going to brick-and-mortar stores as more and more consumers are turning to online shopping. There are many reasons why consumers shop online. For instance, it is really convenient to shop online since people do not need to go out of their houses; they can simply just sit on the couch and browse on the internet and the package will be in the consumers’ hands within a matter of days. Consumers have also found that in order to purchase products that are not available in their local area they must shop on the internet. For instance, a collector of fine literature is not confined to traveling great distances and spending hours in search of that “rare” find, but can at his leisure shop with numerous online sellers. Also, some companies do not have brick-and-mortar stores in many of the states where consumers live, so, consumers can just get on the Internet and they can have access to the products that they need, which is another reason why people shop online. However, the biggest advantage to online shopping is that consumers have found out that shopping online can usually lead them to cheaper prices than at the brick-and-mortar stores. And of course, they do not have to pay sales taxes if they shop online.
Online shopping is set to radically change the dynamics of the retail industry with increased consumer reach. It is expected to continue flourishing with mobile transactions increasing and online retail sales projected to reach $434 billion over the next four years. Even big box retailers are entering in to the e-commerce market. Online shopping will be disruptive for the following reasons:
One of the reasons why shopping online is preferred by some people is because it is convenient. No more heavy shopping bags to lift, activities like pushing the grocery cart, and long lines of cashier registers. Although PriceGrabber offers cheaper or better selling prices, it still has the same quality. Other expenses that go along with shopping out in malls are also evaded. The choices of online shoppers vary with each chosen category and subsection. Spontaneous shopping sprees are avoided since the buyer can take his or her time before making any transactions.
Information Communications Technology systems are used extensively in modern shops and supermarkets. This is because of the rise of mammoth supermarket sweeping the world and so therefore it is no longer possible to keep track of stock and sales with out the help of ICT. Computer systems are used in a variety of ways;
When choosing to shop online or at a brick and mortar store, start by weighing the pros and cons of each established method of shopping. When shopping online a consumer is are able to browse multiple stores while sitting in their pajamas, no driving from store to store, and there is no need to deal with overcrowded stores. Time is not an issue, browsing online for a pair of shoes might start at three in the morning or five at night. Online shopping brings the global market place directly to a shopper’s front door. Under normal circumstances, the common person would not be able to browse and purchase from stores far away like China.
The Applications of ICT- Shopping Supermarkets and checkouts. The advancements in the technological world have allowed supermarket chains and other national stores to quickly dominate the market and are driving out the concept of the ‘local stores’. This surge in the market has seen shares rise and profits bulge with the three main contenders in mind being Sainsburys, Safeways and Tescos who now serve the whole of the UK between them and are the household names of the shopping world. The ICT input to these businesses is vital in that it provides speedy service; controls stock levels and will even allow bank balance transfers to be carried out with minimal difficulty or technical experience. The ‘till’, arguably a simple word has been given several names in the information technology world depending on the tasks, which the one in question can perform.
The main advantage of online shopping is convenient. Online shops open 24/7. People who live in remote areas do not need to speed long time on the traveling to the stores. Consumers who come from other cities/countries can easily buy the native and specialty goods by just a click instead of going to that cities/countries themselves. The relevant information of products can be received from any location in seconds. Study showed that 72% of online shoppers preferred surf online than go to retail store to attain information about a product (Lokken et al., 2003). Online shopping also has greater price information (as cited...
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.