The
surface of new technologies has forced businesses in the retail industry to change
their strategies in order to keep up with the demands of the modern world.
Participation in e-business world has opened numerous doors for these
industries such as online shopping.
With
the retail industry adapting the attributes of e-business, customers can now
shop around the clock from the comfort of their own homes. Not only does this
increase the likelihood of sales, but it allows the consumer draw together
large amounts of information. In this process, products can be compared to
others. This helps the buyer make an informed decision and thus increases
satisfaction levels and boosts the popularity of e-commerce.
U.K.
retailer Tesco, ranked no.5 the most valuable retail brands online, has
invested heavily in e-commerce offering customers the ability to order their
groceries online from their PC, laptop or through their mobile phones. (internetretailer.com)
The customers most likely to avail of these services will be those under the
age of 60. These generations have grown up with computer technologies by their
sides, continuing to mature as the technological world aids their daily lives.
While
these services are still under development, they are nonetheless here to stay.
The customer drives e-commerce, like most markets. Flexibility in this modern
market plays a key role as it allows the consumer to work with companies in
their own time.
“E-business
has strong benefits like reducing costs of production, increase sales, access
markets across the globe, provide more information, and improve customer
service familiarity, improve employee motivation through more flexible working
methods, provides convenience and comfort for customers, etc. So it will
continue to improve and increase in usage for a long time.” (Rachana Ghayal)
References:
Impact of E-Business on the retail Market: A
Short Study, Rachana Ghayal
Tesco
is going Global with E-commerce- Stephen Cotterill
https://www.internetretailer.com/2012/10/05/tesco-going-global-e-commerce
No comments:
Post a Comment