Retail Virtual Modelling

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  • 1990: Tim Berners-Lee wrote "The WorldWideWeb browser" using a NeXT computer. 1994: Netscape released the Navigator browser in October under the code name Mozilla. 1995: Jeff Bezos launched Amazon.com and the first commercial 24 hr. internet only radio station "Radio HK" started broadcasting. Dell and Cisco began to aggressively use Internet for commercial transactions. 1998-2000: Substantial number of businesses in the United States and Western Europe developed rudimentary Web sites. 2000: The dot-com bust. Lot of e 2003: Amazon.com : first-ever full-year profit.
  •     o increase sales - this is the first thing that people consider            when dealing w e-commerce     o decreasing costs     o increase profits                o understanding that profits is not the same as sales     o Expands the size of the market from regional to national or national to international     o Contract the market     o reach a narrow market                o target market segmentation allows you to focus on a more                      select group of customers                o and therefore have a competitive advantages in satisfying them Decreasing costs     o costs of creating the product     o marketing                  o of promotional material     o costs of distribution eg. Netscape allowing you to download instead of waiting to get the CD by mail      o costs of processing (orders from the customers) repeat activities and information processing of handling customer phone calls of handling sales inquiries determine product availability (inventory management)      o costs of storing information      o lowers telecommunication costs
  • Benefits to organizations that use e-Commerce with their business partners - manufacturers and service companies     o minimizes Supply Chain inefficiencies reduces inventories reduces delivery delays o enables efficient e-procurement      o build more collaborative and stronger relationships with suppliers. This includes streamlining and automating the underlying business processes, enabling areas such as Direct marketing,  selling,  customer services, (call centres) fulfillment,  procurement, replenishment and  information management.
  • Benefits to consumers that use e-Commerce (e-Business)       o can buy when you want, from more locations (internet connected terminals) more choices                                 o when you have more choices you can decide on a product with                                       better features at a more competitive price     o sometimes products are less expensive online     o can receive more information about the product, make a more informed decision greater information leads to more confidence to make a purchase decision more info also leads to enhanced customer satisfaction because the customers has a better idea how to use the product      o quicker delivery (for online products) quick delivery is important for people who want to use the product immediately, as opposed to waiting longer - if they have to wait long, they may pick a competitor's product Benefits to society  (when consumers and business use e-Commerce)      o cocooning - more individuals can work offsite this decreases HR costs for companies because they can have smaller office buildings, less parking spaces, fewer IT services, etc.      o less affluent people can buy more and increase standard of living (questionable says WTGR)     o facilitates delivery of public services (Toronto water bills online now) sending out bill payment info is a significant cost for companies
  • Technological solution Bandwidth issue Process reliability Incompatible browsers for few sites Integration of e-commerce with current organizational IT systems
  • customer fear of personal information being used wrongly privacy issues customer expectations unmet of going to the showroom vulnerability to fraud and other crimes fear of payment information being unsecure cultural obstacles linguistic challenges lack of critical mass in certain market areas for sellers and buyers people's resistance to change  people not used to  faceless / paperless / non-physical transactions
  • 26% - is for landsend.com My Virtual Model is a virtual identity company located in Quebec, Canada.
  • Personalize Your Virtual Model: Clicking the “Personalize” tab brings you to a screen where you can customize your model and your specific fit. Let’s start with your model. Here, you can give your model a name, a body shape, a build, height, weight, face, eyes, nose, lips, hair style, hair colour, and facial hair. Clicking the “My Fit” button enables you to customize your height, waistband, inseam, chest size, neck size, sleeve length, seat, thigh, and age. Click “Save” and your settings will be retained by My Virtual Model. Now that your model is set up, click the “My Virtual Model” tab. Now you can start trying on clothes.
  • Browse-By Listings Then, right below the product image, I noticed several swatches. Clicking a swatch changed the product image dynamically, without post-back. Post-back is developer-speak for when your browser completely refreshes the webpage, which takes unnecessary time. I really like this functionality in the browse by listings…it was intuitive, provided value, and enabled me to see a wide array of sweaters in different colors and on a person. Product Detail Page: Pan, Zoom, and View: - able to zoom in at a granular level (actually further in than I really needed to, but some people would want to see the fabric as closely as possible). It was easy to use and the response time was excellent. if you click and drag the image once you zoom in, you can scroll around to view a closeup of the product. Colors and Fabrics Again, this is completed without post-back, which is fast and seamless
  • The conversion rate, which represents the percentage of website visits that are 'converted' into purchases, is an important measure in eCommerce. As a marketer, when you start to analyze bounce rate, exit rate , and abandonment rates, you start to appreciate functionality like this. When it comes down to it, if you leave doubt in a customer’s mind, you might leave revenue on the table. But it’s much worse than that… The customer you just lost will go somewhere else to buy, may never come back to your website, and then will generate incremental revenue for your competitor. Product returns from web purchases are lower than other retailers. How could it not be?? You are getting an incredible view of a product you are interested in…it’s almost like you are in a store. Abandonment can happen due to several reasons, one of which is a lack of confidence in the product you just added to your cart. You know, questions like “will it really look like that?”, “what does the fabric actually look like?”, “what does it look like on?”, so on and so forth. Easy and effortless to browse and buy that customers truly enjoy shopping on the website. Excellent Opportunity for Cross Selling (and they take advantage of it…) There are times where you need some help figuring out what matches the selections you’ve made. My Virtual Model enables retailers to provide this functionality in what they call “Great Go Togethers”. If you choose a category and then click “Great Go Togethers” on the right side of the screen, you will find product listings and then other items that match. So, if you don’t have much time and want recommendations for an entire outfit, this is the place for you. For example, I chose a dress shirt, selected the pants, and shoes that LandsEnd.com recommended and I had an outfit built in 10 seconds.
  • The next stage of this is the have collaborative dressing rooms - there is a chat module - you and your friend can view your choices and comment
  • Retail Virtual Modelling

    1. 1. Group 1 Kalpesh Agarwal (01) Sivaram Gunavel (12) Chetan Mahindra (23) Jaspal Singh (47)
    2. 3. The WorldWideWeb Browser Netscape Navigator Amazon.com Radio HK Dell and Cisco Rudimentary Web sites Dot-com Bust Amazon.com 1 st Full-year Profit
    3. 4. <ul><li>B2C can also be web enabled relationships between existing partners; they tend to be run by a single company seeking to lower the cost of doing business with its current suppliers or individual customers </li></ul>
    4. 9. <ul><li>Technical Limitations </li></ul><ul><ul><li>Costs of a technological solution </li></ul></ul><ul><ul><li>Some protocols are not standardized around the world </li></ul></ul><ul><ul><li>Reliability for certain processes </li></ul></ul><ul><ul><li>Insufficient telecommunications bandwidth </li></ul></ul><ul><ul><li>Integrating digital and non-digital sales and production information </li></ul></ul><ul><ul><li>Some vendors require certain software to show features on their pages, which is not common in the standard browser used by the majority </li></ul></ul><ul><ul><li>Difficulty in integrating e-Commerce infrastructure with current organizational IT  systems  </li></ul></ul>
    5. 10. <ul><li>Non-Technical Limitations </li></ul><ul><ul><li>Customer fear (privacy issues ) </li></ul></ul><ul><ul><li>Customer expectations unmet </li></ul></ul><ul><ul><li>Vulnerability to fraud and other crimes </li></ul></ul><ul><ul><li>Fear of payment information being unsecure </li></ul></ul><ul><ul><li>Cultural obstacles </li></ul></ul><ul><ul><li>Linguistic challenges </li></ul></ul><ul><ul><li>Lack of critical mass in certain market areas for sellers and buyers </li></ul></ul><ul><ul><li>Higher employee training </li></ul></ul><ul><ul><li>People's resistance to change  </li></ul></ul><ul><ul><ul><li>People not used to  faceless / paperless / non-physical transactions </li></ul></ul></ul>
    6. 14. Order Placed Cancel Order Assign Sales Check Gift Card used? Batch Gift Card Check Batch Credit Card Check Fraud Check Set Tran Date Failed Failed Failed Yes No
    7. 15. Order Shipped for Home Delivery Yes No Is Reservation Available? Get Reservation Store Pickup Vendor Direct Gift Card
    8. 16. Webservices TCP / IP
    9. 17. Confirmed Order Set Transaction Date WCS DB Order sent to Vendor Direct System Order sent to Gift Card System Order sent to Inventory Mgmt System Data base Receive Shipping and Tracking TCP/IP FTP FTP Receive Shipping and Tracking TCP/IP Determine Refund Returns Settlement WCS DB WCS DB FTP External Interface
    10. 18. <ul><li>What do e-shoppers do with it? </li></ul><ul><li>Create a virtual model which resembles their looks </li></ul><ul><li>Use it to “ try on ” clothes on the Internet </li></ul><ul><ul><li>Match the colours </li></ul></ul><ul><ul><li>Match the outdoor style </li></ul></ul><ul><ul><li>Get the Best Fit Confidence </li></ul></ul><ul><li>Improved online shopping experience </li></ul><ul><li>How does it help the retail store? </li></ul><ul><li>Improves bottom-line profitability </li></ul><ul><li>Customers buy and spend more </li></ul><ul><li>Returns are reduced </li></ul><ul><li>Reduced shipping and handling costs </li></ul><ul><li>26% more purchases than the average visit to the online store </li></ul>
    11. 23. Ease of Use = Happy Customers

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