Poor checkout experiences, including a lack of one-click or quick payment options, risks losing retailers hard won online conversions, the latest data from parcelLab, the leading operations experience platform, revealed.
Internet Retailing, Omnichannel Retailing
Internet retailing, also known as e-tailing, is the sale of goods and services through the internet. It can include business-to-business (B2B) and business-to-consumer (B2C) sales of products and services. Online shopping or e-shopping is a form of electronic commerce which allows consumers to directly buy goods or services from a seller over the Internet using a web browser. Internet retailers can be purely digital, meaning there is no physical store for a customer to enter. However, an e-retail business can also be a brick-and-mortar shop with an online presence. Omnichannel retailing is a retail strategy that integrates multiple channels, such as brick-and-mortar stores, online stores, and mobile apps, to create a seamless shopping experience for customers.
A lack of one-click convenience and quick-pay options at the check-out is costing retailers conversions
Mar 09, 2021
Fashion & travel sectors boost online sales as lockdown end is planned
Mar 08, 2021
The latest online retail data from Salesfire has shown the travel and fashion sectors capitalised on sales in February following the announcement of a roadmap out of lockdown.
PcComponentes selects CitrusAd as new Retail Media platform
Mar 03, 2021
PcComponentes, the Spanish ecommerce site for technology products, has launched CitrusAd’s Retail Media platform as the technology provider for its marketplace, providing brands with new opportunities to promote themselves on its websites, whether through sponsored product campaigns, banners or through brand pages.
nsign.tv launches a new version of its omnichannel platform for the digital transformation of physical spaces
Mar 02, 2021
nsign.tv has launched a new version of its omnichannel communication platform for Retail, which has already been implemented by more than 150 companies in more than 25 countries to digitally transform their physical spaces.
Inurface to bring experiential to the high street with joint acquisition of We Are Interact and EventsTag
Mar 01, 2021
The inurface group has announced their purchase of interactive technology brand We Are Interact and technology platform, EventsTag on the 24thFebruary 2021.
7 steps to ensure successful omnichannel roll-out in fashion retail
Feb 24, 2021
By Jean Shin, Director Strategy and Content, tyntec.
As the pandemic continues to wreak havoc on retail, the fashion sector, in particular, is looking for new ways to engage with customers through new clienteling techniques.
Taking a qualitative approach to a data-driven market
Feb 24, 2021
While digital transformation is proving to have many benefits for businesses, what is perhaps the most significant, is the vast amount of data there is available. And now, with an increasing number of businesses turning their focus to online, there is even more to be collected on competitors and markets than ever before.
‘Non-essential’ stores are essential. Retail sales collapsed -8.2% in January, as the High Street shut up shop once more
Feb 23, 2021
Figures released by the Office for National Statistics (ONS) highlight the ongoing devastation lockdown is having on the High Street. The value of UK retail sales collapsed -7.8% in January compared to the previous month, December 2020, and -7.2% YOY.
Brother UK launches new hardware-as-a-service platform
Feb 22, 2021
Brother UK has launched a new hardware-as-a-service platform called Managed Label Service (MLS) to help resellers capitalise on the growing market for label printers.
A six-point checklist guaranteed to make your life under SCA better — and, yes, it’s coming
Feb 22, 2021
By Shagun Varshney, Senior Product Manager, Signifyd.
The sky is falling. The wolf is coming. And SCA will be enforced in the UK just as it is being enforced now across much of Europe.
Internet Retailing
Internet retailing, also known as e-tailing or online retailing, is the sale of goods and services over the internet. It is a type of electronic commerce (e-commerce) that allows consumers to purchase products and services directly from retailers without having to visit a physical store.
Internet retailers can sell a wide variety of products, including clothing, electronics, books, home goods, and more. They can also offer a variety of services, such as online payments, shipping, and returns.
There are many different types of internet retailers, including:
- Pure-play retailers: These retailers only sell products online. They do not have any physical stores.
- Multichannel retailers: These retailers sell products both online and in physical stores.
- Marketplaces: These retailers provide a platform for other retailers to sell their products.
Internet retailing has become increasingly popular in recent years. In 2022, global e-commerce sales were estimated to be $4.9 trillion. This number is expected to continue to grow in the coming years.
There are many reasons for the growth of internet retailing. Some of the reasons include:
- The convenience of shopping online.
- The wider selection of products available online.
- The lower prices that can often be found online.
- The ability to shop from anywhere in the world.
Internet retailing has a number of advantages for both consumers and retailers. For consumers, it offers the convenience of shopping from home, the ability to compare prices from different retailers, and the opportunity to find products that are not available in physical stores. For retailers, it offers the opportunity to reach a wider audience, reduce costs, and improve customer service.
However, there are also some challenges associated with internet retailing. Some of the challenges include:
- The need to protect customer data.
- The need to ensure that products are delivered on time and in good condition.
- The need to provide effective customer service.
Omnichannel retailing
Omni-Channel Retailing is the evolution of Multi-Channel Retailing, but is concentrated more on a seamless approach to the consumer experience through all available shopping channels, i.e. mobile internet devices, computers, brick-and-mortar, television, radio, direct mail, catalog and so on. Retailers are meeting the new customer demands by deploying specialized supply chain strategy software. To use all channels simultaneously, retailers using an omni- channel approach will track customers across all channels, not just one or two.
Omnichannel retailing is a retail strategy that integrates multiple channels, such as brick-and-mortar stores, online stores, and mobile apps, to create a seamless shopping experience for customers. This means that customers can start their shopping journey on one channel and seamlessly transition to another channel without having to start over.
For example, a customer might start by browsing for products on a retailer's website, then use the retailer's mobile app to compare prices, and finally visit a brick-and-mortar store to make a purchase. The retailer would track the customer's journey across all channels and make sure that the customer's information is consistent across all channels.
Omnichannel retailing is becoming increasingly important as more and more customers are using multiple channels to shop. A study by Salesforce found that 73% of customers use multiple channels during their shopping journey.
There are many benefits to omnichannel retailing, including:
- Increased customer satisfaction: Customers appreciate being able to shop however they want, and they are more likely to be satisfied with their shopping experience if they can seamlessly transition between channels.
- Increased sales: Omnichannel retailers are able to reach more customers and sell more products by offering their products and services across multiple channels.
- Improved customer loyalty: Omnichannel retailers are able to build stronger relationships with their customers by providing them with a more personalized and convenient shopping experience.
