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.
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.
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.
How 5G will revolutionise retail payments
Oct 08, 2019
Retail has increasingly become a mobile function to meet the needs of a constantly on-the-go consumer base, especially with the rise in popularity of mobile E- wallets. The introduction of 5G will only enhance innovations in retail technology and in turn, benefit the consumer.
Email and postal mail combination doubles abandoned basket reactivation – reveals latest study from Go Inspire Group
Oct 08, 2019
Go Inspire Group have just launched a revealing new report providing evidence that the combination of email and postal mail can double reactivation of abandoned baskets compared to email reactivation activity alone.
Are Concept Stores Keeping Physical Stores Alive?
Oct 02, 2019
It’s no secret that physical high street stores are struggling to survive. As online shopping continues to rise, the number of physical stores being closed down is also growing at an alarming rate. This has led to a lot of concern over how long physical stores can last in this new digital era.
New LDC data: what are the implications for online retail with UK shops sitting empty?
Oct 01, 2019
New data from the Local Data Company that has shown Britain’s high streets, shopping centres and retail parks have the highest number of empty stores in five years. What does this mean for online retail? Can technology help? Michael Schirrmacher, Managing Director UK, Bloomreach, offers his thoughts…
Building an e-commerce platform from scratch
Sep 24, 2019
By Ievgen Kustorovskyi, Head of Magento and specialist in eCommerce development, Ciklum.
Building a custom e-commerce platform may seem like a daunting task and building one from scratch is not an easy task. These days, it’s increasingly becoming the preferred choice of online retailers who wish to take total control of their customer experience.
Comfort eating? Online shoppers put their money where their mouth is
Sep 24, 2019
Office of National Statistics (ONS) retail figures for August highlighted the pre-Brexit wobble in consumer confidence, says the home delivery expert ParcelHero, with sales volumes down -.2% compared to July, and department store sales continuing to tumble -1.3% on the previous month and -2.5% on August 2018.
What devices are consumers using for online shopping in 2019?
Sep 19, 2019
Online shopping is slowly supplanting the high street and the supermarket as the most popular form of commerce worldwide, with 87% of retail perchance in the UK alone now made online.
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.
