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E Retailing

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meaning of e-retailing, advantages, disadvantages

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E Retailing

  1. 1. E-Retailing
  2. 2. Traditional Retailing <ul><li>Retailing is the process of selling products or services to consumers for their non-business use. </li></ul><ul><li>Product satisfaction and value satisfaction is essential. </li></ul>
  3. 3. What is e-retailing <ul><li>Shopping through the Internet and other media forms. </li></ul><ul><li>Anything anywhere at the click of a button. </li></ul><ul><li>Anything anywhere refers to products and services </li></ul><ul><li>Commonly known as e-tailing, electronic retailing. </li></ul>
  4. 4. E-retailing <ul><li>E-retailing is B2c(business to customers)business model that executes a transaction between businessman and final customer </li></ul><ul><li>Subset of e-commerce </li></ul><ul><ul><li>e-tailers </li></ul></ul><ul><ul><li>Retailers who sell over the Internet </li></ul></ul>
  5. 5. Electronic Retailing <ul><li>Size and Growth of the B2C Market </li></ul><ul><ul><li>Reported amounts of online sales deviate substantially based on how the numbers are derived </li></ul></ul><ul><ul><ul><li>Annual online 2004 sales were estimated to be over $70 billion </li></ul></ul></ul><ul><ul><ul><li>The average online shopper spent over $350 per quarter </li></ul></ul></ul><ul><ul><ul><li>Forrester Research estimates that e-tailing will reach $316 billion by 2010 </li></ul></ul></ul>
  6. 6. E-Retailing Business Models
  7. 7. E-Retailing Business Models <ul><li>Classification by Distribution Channel </li></ul><ul><ul><li>Mail-order retailers that go online </li></ul></ul><ul><ul><li>Direct marketing from manufacturers </li></ul></ul><ul><ul><li>Pure-play e-tailers </li></ul></ul><ul><ul><li>Click-and-mortar retailers </li></ul></ul><ul><ul><li>Internet (online) malls </li></ul></ul>
  8. 8. E-Retailing Business Models <ul><li>direct marketing </li></ul><ul><li>Broadly, marketing that takes place without intermediaries between manufacturers and buyers; in the context of this book, marketing done online between any seller and buyer </li></ul>
  9. 9. Direct Marketing: Land’s End <ul><li>Landsend.com </li></ul><ul><li>Increase sales by going online </li></ul><ul><li>Website contains product catalogs and features </li></ul><ul><ul><li>My Virtual Model </li></ul></ul><ul><ul><li>Wide range of fabric to choose from </li></ul></ul><ul><ul><li>Affiliate program: pay 5% commission </li></ul></ul><ul><ul><li>Real-time chat with customer service reps </li></ul></ul><ul><ul><li>Less than 2 days delivery 16 distribution outlets and the US and 3 in the UK </li></ul></ul><ul><li>88% of their customers are college graduates </li></ul>
  10. 10. E-Retailing Business Models <ul><li>Direct Sales by Manufacturers </li></ul><ul><ul><li>Sellers can understand their markets better because of the direct connection to consumers </li></ul></ul><ul><ul><li>Consumers gain greater information about the products through their direct connection to the manufacturers </li></ul></ul>
  11. 11. E-Retailing Business Models <ul><li>virtual (pure-play) e-tailers </li></ul><ul><li>Firms that sell directly to consumers over the Internet without maintaining a physical sales channel </li></ul><ul><ul><li>Low overhead costs </li></ul></ul><ul><ul><li>General purpose or specialized </li></ul></ul><ul><li>click-and-mortar retailers </li></ul><ul><li>Brick-and-mortar retailers that offer a transactional Web site from which to conduct business </li></ul><ul><ul><li>Sells in stores, via phones, over the Internet, via mobile devices </li></ul></ul>
  12. 12. E-Retailing Business Models <ul><li>Retailing in Online Malls </li></ul><ul><ul><li>Referring Directories </li></ul></ul><ul><ul><li>Malls with Shared Services </li></ul></ul><ul><li>Representative B2C Services </li></ul><ul><ul><li>Postal Services </li></ul></ul><ul><ul><li>Services and Products for Adults </li></ul></ul><ul><ul><li>Wedding Channels </li></ul></ul><ul><ul><li>Gift Registries </li></ul></ul>
  13. 13. What to sell online <ul><li>Products that are Unique and can sell cheaper </li></ul><ul><li>Products that require consumer research </li></ul><ul><li>Items that are hard to find (i.e., collectibles and specialty items) </li></ul><ul><li>Products that appeal to tech-savvy users </li></ul>
  14. 14. What to sell online <ul><li>Computer hardware and software </li></ul><ul><li>Consumer electronics </li></ul><ul><li>Office supplies </li></ul><ul><li>Sporting goods </li></ul><ul><li>Books and music </li></ul><ul><li>Toys </li></ul><ul><li>Health and beauty </li></ul><ul><li>Apparel and clothing </li></ul><ul><li>Jewelry </li></ul><ul><li>Cars </li></ul><ul><li>Services </li></ul><ul><li>Others </li></ul>
  15. 15. Characteristics of Successful E-Tailing <ul><ul><li>High brand recognition </li></ul></ul><ul><ul><li>A guarantee provided by highly reliable or well-known vendors </li></ul></ul><ul><ul><li>Digitized format </li></ul></ul><ul><ul><li>Relatively inexpensive items </li></ul></ul><ul><ul><li>Frequently purchased items </li></ul></ul><ul><ul><li>Commodities with standard specifications </li></ul></ul><ul><ul><li>Well-known packaged items that cannot be opened even in a traditional store </li></ul></ul>
  16. 16. Elements of e-retailing <ul><li>Combining new technologies with elements of traditional stores and direct mail models </li></ul><ul><li>Using new technologies to replace these elements </li></ul><ul><li>e-mail messages for communication </li></ul><ul><li>Transactions on on-line catalogues can replace printed catalogues </li></ul>
  17. 17. AIDA in e-retailing <ul><li>AIDA is a direct mail marketing acronym </li></ul><ul><li>Attention - grab the visitor’s attention </li></ul><ul><li>Interest - pique their interest in your product or site </li></ul><ul><li>Desire - build desire for the product </li></ul><ul><li>Action - Get them to follow a call to action </li></ul>
  18. 18. Marketing Mix for e-retailing <ul><li>The 4 C’s used in e-retailing are </li></ul><ul><li>Convenience to the customer (Place) </li></ul><ul><li>Customer value and Benefits (Products) </li></ul><ul><li>Cost to Consumer (Price) </li></ul><ul><li>Communication (Promotion) </li></ul>
  19. 19. Strategies in e-retail <ul><li>Customer value management is essential in every retail operations. </li></ul>Consumer Value Management Consumer Enthusiasm Category Management Supply Chain Mgt. Profitable Growth Efficiency
  20. 20. Characteristics of an e-retailer <ul><li>Hard work </li></ul><ul><li>Entrepreneurial spirit </li></ul><ul><li>Careful business planning and willing to take risks </li></ul><ul><li>Need for achievement </li></ul><ul><li>Self-confidence and passion for the business </li></ul><ul><li>A little luck </li></ul>
  21. 21. Successful e-retailers across the World <ul><li>Amazon – www.amazon.com – Books </li></ul><ul><li>Dell – www.dell.com - Computer hardware </li></ul><ul><li>Marks and Spencer – www.marksandspencer.com – Clothing, gifts </li></ul><ul><li>Boots – www.wellbeing.com – High street Boots </li></ul>
  22. 22. Do’s in e-retailing <ul><li>Make it easy to buy </li></ul><ul><li>Provide Good service and aftercare </li></ul><ul><li>Membership incentives </li></ul><ul><li>Human communication, chat rooms and bulletin boards </li></ul><ul><li>Make e-shopping an enjoyable experience </li></ul>
  23. 23. Don’ts in e-retailing <ul><li>Providing your best page at the last </li></ul><ul><li>Usage of too many graphics </li></ul><ul><li>Leaving no white space in the page </li></ul><ul><li>Having too many sequential clicks </li></ul><ul><li>Usage of too much long winded wordings. </li></ul>
  24. 24. Books Books Kindle Textbooks Magazines & Newspapers Movies, Music & Games Movies & TV Blu-ray Video On Demand Music MP3 Downloads Musical Instruments Video Games Digital Downloads Kindle Video On Demand MP3 Downloads Amazon Shorts Computers & Office Computers & Accessories Software PC Games Computer Components Office Products & Supplies Electronics Audio, TV & Home Theater Camera, Photo & Video Cell Phones & Service MP3 & Media Players Car Electronics & GPS Video Games Home Appliances Musical Instruments Kindle All Electronics Home & Garden Kitchen & Dining Furniture & Décor Bedding & Bath Home Appliances Vacuums & Storage Home Improvement Patio, Lawn & Garden Pet Supplies Sewing, Craft & Hobby Grocery, Health & Beauty Grocery Natural & Organic Gourmet Food Health & Personal Care Beauty Toys, Kids & Baby Toys & Games Baby Apparel (Kids & Baby) Books Movies Music Video Games Software Apparel, Shoes & Jewelry Apparel & Accessories Shoes Jewelry Watches Sports & Outdoors Exercise & Fitness Camping & Hiking Action Sports Team Sports Cycling Golf Fan Gear All Sports & Outdoors Tools, Auto & Industrial Power & Hand Tools Outdoor Power Equipment Home Improvement Lighting & Electrical Plumbing Fixtures Automotive Motorcycle & ATV Industrial & Scientific  
  25. 25. consumer trust in e-retailing <ul><li>Personality-based factors </li></ul><ul><li>Perception-based factors </li></ul><ul><li>Experience-based factors </li></ul><ul><li>Knowledge-based factors </li></ul><ul><li>Attitude. </li></ul>
  26. 26. Benefits of e-retail to a seller <ul><li>Increased sales opportunities and decreased transaction costs </li></ul><ul><li>Ability to operate 24/7 </li></ul><ul><li>Ability to reach narrow market segments </li></ul><ul><li>Increased speed and accuracy of information exchange </li></ul><ul><li>Ability to maintain strong customer relationships </li></ul>
  27. 27. Benefits of e-retail to a Buyer <ul><li>Wider product availability </li></ul><ul><li>wider buying options </li></ul><ul><li>Ability to shop 24/7 and easy comparison shopping </li></ul><ul><li>Quick delivery of digital products </li></ul><ul><li>Ability to create a one-on-one relationship </li></ul>
  28. 28. Merits of e-retailing <ul><li>convenience and Wider choice </li></ul><ul><li>Better value and a Unique gifting opportunity </li></ul><ul><li>Saves time and strain </li></ul><ul><li>Know customer preferences </li></ul>
  29. 29. Bottlenecks of e-retailing in general &in India <ul><li>Problems maintaining security and reliability </li></ul><ul><li>Global market issues of language, currency etc. </li></ul><ul><li>Increased instances of failure to pay or fraud </li></ul><ul><li>Inability to touch and feel products before purchase </li></ul><ul><li>Complicated legal environment </li></ul>
  30. 30. Bottlenecks of e-retailing in India <ul><li>Problems with the Payment System </li></ul><ul><li>Offline presence Products offered at discounted rates Language Problem </li></ul>
  31. 31. Reality of Success <ul><li>First mover advantage </li></ul><ul><li>Competitive advantage- Price and Service features </li></ul><ul><li>Get fulfillment and customer service right </li></ul><ul><li>Explain the interactivity of the internet to your customers </li></ul><ul><li>Explore opportunities for new revenue streams </li></ul>
  32. 32. Conclusion <ul><li>Customers keep coming back only if earlier shopping experiences have been pleasant and successful. </li></ul><ul><li>In this intricate business world, the e-retailing will become tremendous business strategic concept. </li></ul><ul><li>Most profitable method of business process in coming decade to the textile and garment industries. </li></ul>