One of the most promising trend emerged in the recent time is the success of the e-retailing. E-retailing is proving a huge challenge for the traditional brick and mortar retailers. This is due to the reason that, market penetration and market coverage of e-retailers is significantly higher than that of the traditional retailers. Moreover, customer convenience is more in the E-retailing than in the traditional stores (Burns, 2018). Thus, with time, customers are more inclining towards the E-retailing. However, with the boom in his sector, there are various factors also emerging, which should be determined effectively in order to have the maximum benefit and return from the market.
Moreover, with the increase in the competition, it is also important for the e-retailers to consider various factors related to the customer satisfaction in order to stay ahead in the competition. This is due to the reason that, competition is rapidly increasing with the entry of more number of e-retailers.
This report will discuss about the qualities, principles and strengths that are important for the e-tailing in the current competitive scenario. Moreover, the factors that should be considered to be successful in the E-retailing will also be discussed in this report. The current trend and potentiality in the E-retailing will also be discussed in this report.
In the current business scenario, a huge variety of products and services are being sold through the e-businesses. Thus, for the new startups to start their business in the e-business sector there are various categories being available. However, some of the categories are having potentiality over others. One of the e-business categories that are having potential in the recent time is the service providers. This includes the online movie streaming and others services such as insurance (Nguyen, Dejean & Moreau, 2014). Providing services through the help of e-business is a new trend and having huge market potentiality. This sector will be successful due to the reason that, e-retailing business is highly competitive in nature and in addition, current customer segments are having less time to avail different services in conventional way.
For instance, customers in the current social scenario are having less time to visit the insurance broker and discuss with them regarding the ideal insurance policy. Thus, providing these customers online services, where they can avail from their convenience will be more beneficial. This is the reason behind the fact that, this business is witnessing rapid growth in the recent time.
Another business category that will also be successful is the e-retailing of the FMCG and fashion products. Traditionally, this business category is the major contributor in the entire online business market with having the highest number of competitors. However, entering in this business will have huge potential for the new startups due to the reason that, FMCG and consumer goods are having huge varieties and assortments along with having highest market penetration. Thus, entering in this sector will have competition but it will also provide huge market opportunities.
Conclusion
Thus, from the above discussion, it can be concluded that e-retailing has evolved extensively in the recent years and changed entirely from the state it was started. This report discussed about the strengths and the advantages of e-retailing over the traditional retailing. Moreover, the business principles being followed by them in gaining competitive advantages over the traditional retailers are also being discussed in this report. Recent trends in this sector are also being discussed in this report along with identifying the potential sector that will have more opportunity in the market.
Reference
Burns, E. (2018). Study: Consumer Satisfaction in E-Commerce Slips – ClickZ. ClickZ. Retrieved 24 January 2018, from https://www.clickz.com/study-consumer-satisfaction-in-e-commerce-slips/62894/
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Digital Commerce 360. (2018). Digital Commerce 360. Retrieved 24 January 2018, from https://www.digitalcommerce360.com/2015/02/19/e-retailers-beat-stores-customer-satisfaction-study/
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Morganti, E., Seidel, S., Blanquart, C., Dablanc, L., & Lenz, B. (2014). The impact of e-commerce on final deliveries: alternative parcel delivery services in France and Germany. Transportation Research Procedia, 4, 178-190.
Nguyen, G. D., Dejean, S., & Moreau, F. (2014). On the complementarity between online and offline music consumption: the case of free streaming. Journal of Cultural Economics, 38(4), 315-330.
Sardar, S., & Lee, Y. H. (2015). Analysis of product complexity considering disruption cost in fast fashion supply chain. Mathematical Problems in Engineering, 2015.
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