Key Terms<br />Retailing is the sale of goods or commodities in small quantities directly to consumers. Also known as to sell at retail (Waters, 2011)<br />Electronic Commerce (e-commerce / e-business) buying and selling of products or services over electronic systems such as the Internet and other computer networks (Admin, 2010)<br />Retail Channels<br />Traditional – Physical Storefronts “Brick & Morter”<br />Online (ecommerce) – Digital Storefronts “Websites”<br />
Online Retails Impact On Traditional Shopping<br /><ul><li>Online shopping has revolutionized the concept of commerce for the owners of online stores as well as customers
Evolving customer channel preferences from product research to buying has meant that retailers are turning to operations 2.0 (linking “brick and mortar” with digital)
As mobility, tablets and social commerce emerge as new channel and customer experience opportunities, retailers have had to adapt so as to understand the impact on the value chain.
Major “brick and mortar” retail chains are moving closer to web-related technologies, diversifying selling so as to embrace web and mobile applications.</li></li></ul><li>Evolution of Online Retailing<br /><ul><li>In 1990, Tim Berners-Lee created first world wide web server and browser and opened for commercial use in 1991.
In 1994 other advances such as online banking took place and the opening of an online pizza shop by pizza hut. Netscape introduced SSL encryption of data transferred online which has become essential for secure online shopping.
In 1995, Amazon launched its online shopping site with eBay following a year later. (Australian Bureau of Statistics, 2011)
According to PwC and Frost and Sullivan, online spending by Australians will reach $ 21.7 billion by 2015
Virtual shopping: With advancement in technology, the shopping landscape will be reshaped as customers will try on clothing virtually before purchase. By use of webcams, consumers can see how they look before adding it to their online shopping cart.</li></li></ul><li>VIDEO<br />http://www.youtube.com/watch?v=3t6Ac4PCJ<br />
Infrastructure & Systems<br />Business Plan & Model (Online)<br /><ul><li>Expand & diversify
Strategy’s & Strategic Response<br />1. Listen <br />Listen to what people are saying about your brand and industry (insights & information on target audience, where, how and when they engage)<br />2. Engage <br />How do you make yourself present? How are you gong to do it (Plan)? What mediums are best used to engage the audience? Have a forum to find niche.<br />3. Measure <br />Measure success (final sale) rate (consumer branding, have something measurable i.e. Facebook) Measure frequency and consumption. Measure everything!!! (consistently reevaluate)<br />4. Repeat<br />(Include creativity & innovation into the Online strategy and model ) <br />(Marotta, 2011)<br />
THE END<br /> References available within the Report<br />
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