03-07-2012, 12:34 PM
ELECTRONICS - RETAILING
retail.pptx (Size: 158.57 KB / Downloads: 28)
E-Retailing or E-Tailing
/-to-business (B2B) and business- to- consumer (B2C) transaction model of e-commerce.
E-Retailing stores sell online promotion only for goods that can be sold easily online.
Essentials of e-Retailing
Attractive business-to-consumer (B2C) e-commerce portal.
Right revenue model.
Penetration of the Internet.
Success factors for e-retailing
Strong Branding
Unique Merchandising
Competitive Pricing
Better CRM
Better Distribution Efficiency
Soothing Website Design
Challenges of E-Retailing
Channel Conflicts
Requirement to Change Business Process
Unproven Business Models
Advantages of e-Retailing
The electronic channel gives the existing brick-store retailers an opportunity to reach new markets.
For the existing retailers, it is an extension to leverage their skills and grow revenues and profits without creating an altogether new business.
E-Retailing overcomes some limitations of the traditional formats, for instance the customers can shop from the comfort of their homes.
The e-commerce software that also traces the customers activities on the Net enables e-retailers to gain valuable insights into their customers shopping behaviour.
The e-retail channels transcend all barriers of time and space.
E-Commerce channels are definitely efficient and retailers do not have to pay a heavy price for brick-n-mortar shops in costly shopping malls.
Disadvantages
It lacks an emotional shopping experience that the customer can get in a personal shopping store.
It being container of intangible merchandise (i.e., virtual display of merchandise) does not provide sensory support to the customer, these the customer cannot hold, small, feel, or try the product.
It provides, to a large extent, impersonal services which the Indian customers are not exposed to; they are rather used to the tangible personalized services whichs they miss in online retailing services.
It is lacking in family shopping experience which the Indian customers enjoy at the weekends, and particularly during festive seasons and marriage marketing.
Providing information to buyers
Promoting the new products
Offer customer service
Encourage the shopping tendency
Conclusion
It is to conclude that e-retailing is not just about building a pretty website. An established management consulting firm will bring in the requisite skills to evaluate business plan, check out revenue models, help identify alliances and integrate supply chain processes with e-commerce initiatives………….