New research from UPS has highlighted the challenges faced by UK and European retailers in adapting their operations to digital consumers. The UPS Pulse of the Omni-channel Retailer survey highlights how innovation is needed to keep a stable or growing market share in a retail market that is increasingly global and dominated by players conducting cross-border sales.
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.
Mobile shoppers driving changing trends in retail purchases
Aug 03, 2016
Research released by Hitwise, a division of Connexity, reveals how important mobile devices have become to in-store shopping and indicates why retailers must adjust their campaigns to meet changing customer behaviours.
UK consumers seek better online engagement
Aug 03, 2016
From online-only e-tailers to traditional bricks and mortar stores that have embraced the ecommerce boom, the last few years have seen the popularity of online shopping continuously rise.
LED lights unlock mcommerce goldmine
Aug 03, 2016
As ecommerce figures continue to rise in the UK, GE's new start up company Current explains how the combination of LED lighting and mcommerce's increasing share of this growth is a potential goldmine for retail marketers.
80% of British shoppers won’t purchase from online retailers that fail to list prices in sterling
Jul 27, 2016
A survey by online translation agency One Hour Translation of 1,000 people in the UK revealed that 80% of the British consumer public refuses to buy from websites that do not list their prices in British Pounds.
Reinventing the mobile experience must be a key priority for retailers, says Tryzens
Jul 26, 2016
With consumers expecting shopping experiences to complement their own lifestyles, retailers need to better integrate mobile solutions across the whole of the customer journey to ensure sustainable growth and customer retention.
Greenlight Commerce launches hylight solution on SAP Hybris Commerce to support mid-market businesses
Jul 26, 2016
Greenlight Commerce, an ecommerce solutions provider for online retailers, has launched hylight – a lower-cost enterprise commerce solution built on the market-leading SAP Hybris Commerce solution. hylight is designed to enable mid-market retailers to get a true enterprise and omnichannel-grade capability.
Digital innovation applauded for transforming the way retailers deliver goods
Jul 20, 2016
The innovation shown by retailers in distributing goods is to be applauded, according to new rankings.
Produced in partnership with Webloyalty, Retail Insider's Digital Retail Innovations Report 2016 identifies the top 50 retail technology initiatives, with delivery and fulfilment innovations taking 9 spots on the list. The fashion and food & drink sectors were also well represented, with 17 and 11 entries respectively.
Shopping for databases: finding the right fit for retailers and eCommerce companies
Jul 12, 2016
By Luke Whitehead, head of European marketing, Couchbase.
In today's Digital Economy, retail and eCommerce companies are competing based not only on their individual offerings but on how they deliver customer experience and operational efficiency.
Carrier management: What retailers need to know
Jul 12, 2016
By Matthew Robertson, Co-CEO, NetDespatch.
Carrier management is an area of logistics that has become vital to supply chain operations. The current industry trend shows retailers using numerous carriers to take care of delivery operations, which in turn offers a multitude of options to the consumer.
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.
