According to new consumer research from Global Freight Solutions (GFS) and IMRG (the UK’s association for online retailers), 45% of consumers are still more likely to abandon their purchase due to a lack of convenient delivery options, not a lack of free options.
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.
UK consumers continue to abandon purchases due to a lack of convenient delivery options
Oct 29, 2019
Retail sales value fell in September: and retail’s white knight – e-commerce – suffered worst of all, says ParcelCompare
Oct 22, 2019
ONS retail sales figures reveal the amount UK shoppers spent fell -0.2% in September, and this time the new saviour of retail, online stores, fell even more dramatically, says ParcelCompare.
DS Smith helps Bloom & Wild delight with fresh e-commerce packaging
Oct 22, 2019
Inventor of letterbox flowers, Bloom & Wild, was seeking the right partner to develop a bespoke new decorative box for hand tied flowers. The company turned to packaging strategist DS Smith, a company with e-commerce experience and a focus on sustainable packaging, high-quality printing capabilities.
New Salesforce Research reveals that while brick-and-mortar stores remain relevant, digitally savvy Brits have an average of 2 shopping apps on their mobile devices
Oct 22, 2019
Salesforce, the CRM solutions provider, has released the third edition of its Connected Shoppers Report, which reveals that British and Irish shoppers are moving targets, jumping across physical and digital destinations as they browse, purchase and request service and support, with 4% of purchases occurring on emerging digital touchpoints that are completely separate from retailers’ and brands’ owned properties.
99% of UK’s top 100 fashion retailers stop marketing to their customers as soon as they have made an online purchase
Oct 22, 2019
99% of the UK’s top 100 fashion retailers are failing to provide customers with a personalised post-checkout experience by neglecting to send tailored shipping communications to their customer, meaning the majority are missing out on a vital marketing channel, according to parcelLab’s ‘UK E-Commerce Shipping Study 2020: Fashion Edition’.
CommerceHub survey uncovers expanding product range is a top priority for UK retailers
Oct 22, 2019
CommerceHub presented key research findings at The Internet Retailing Conference on 10 October 2019 from its survey of 200 online retail decision makers and workers, uncovering their current mindset around using drop ship or marketplace models to cost-effectively expand product range.
Omnichannel retail trends that will shape the industry in 2020
Oct 15, 2019
A shift in consumer behaviour has seen the retail sector transition from bricks alone to a combination of bricks and clicks. With new shopping demographics purchasing products in a different format, the rise in e-commerce success has no doubt driven the recent retail revolution, with the world of digital proving increasingly important.
Ethoca wins Most Innovative Online Solution at the UK Fraud Awards 2019
Oct 15, 2019
Ethoca, the leading provider of collaboration-based technology solutions that help card issuers and online merchants increase card acceptance and stop ecommerce fraud and disputes, has won ‘Most Innovative Online Solution’ at the UK Fraud Awards 2019.
Ecommerce will account for a third of all global chain retail sales in five years
Oct 15, 2019
Analysts predict that 30% of global retail sales will be made through ecommerce channels by 2024, according to global ecommerce insights business Edge by Ascential at Retail Week’s Tech. festival.
As high street shops close, retailers also fail to control online customer churn
Oct 08, 2019
A recent survey of 500 retailers sponsored by Eggplant, the digital experience specialist, revealed the pressures facing online digital teams in advance of busy retail season.
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.
