Retail has been hit by a perfect storm, says the home delivery expert ParcelHero. New figures from PwC reveal 5,853 shops closed last year, and embattled Debenhams has placed itself in receivership as it fights against the onslaught of e-commerce. But with ASOS’ profits tumbling nearly 90%, online retailers are also struggling.
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.
Cambridge e-commerce start-up named one of Europe’s top 100 fastest growing companies
Apr 15, 2019
Velocity Commerce, the online retail specialist based in Cambridge, UK, and established just six years ago in a co-founder’s home, has been named one of the fastest growing companies in Europe in the latest FT 1000report.
How Polish B2B companies buy and sell online – Survey and report
Apr 15, 2019
How many Polish companies sell and buy products online? What are their sales channels? How do they search for clients and business partners?
Network Transmission Types and Evil Smurfs
Apr 13, 2019
By Patrick Vernon
In the beginning, the Internet was designed to “just work”. The basic Internet protocols that we use every day including HTTP (web traffic), SMTP (email), and DNS (converting URLs to IP addresses) weren’t designed to be secure.
Tech partnership set to bring greater transparency to UK eCommerce
Apr 09, 2019
A new tie-up between digital design agency, Sigma, and two leading eCommerce companies – Storm and InRiver – is aiming to deliver best-in-class eCommerce capability, while fostering a greater degree of responsibility, transparency and inclusivity in online customer experience.
Tigers expands UK operations by opening new flagship facility in Thurrock as e-commerce booms
Apr 09, 2019
Tigers has opened a new facility in Thurrock, near London Gateway, to continue with long-term UK investment plans and to meet growing e-commerce demand, despite ongoing uncertainty surrounding Brexit.
85% of UK consumers prefer to shop in store
Apr 09, 2019
High street retailers must be savvy with omnichannel technological integration in order to survive in the digital age, new research has warned.
A survey of 1,056 UK adults carried out by digital marketing agency, Marketingsignals.com, revealed that 85% of people still prefer to physically purchase products in store, despite the convenience offered by online shopping.
High Street ‘saviour’ cashierless stores could disappear because of the ‘Philadelphia Experiment’
Apr 09, 2019
New legislation protecting minorities could stop the spread of cashierless stores in the UK before they have been fully launched.
UK shoppers demand faster in-store payments that replicate ‘one-click’ transactions online
Apr 02, 2019
Speed and convenience prove key to enhancing customer experience around in-store payments, a new report from RetailEXPO reveals.
Retail Quality Report 2019: Global retailers still struggling with digital
Apr 02, 2019
Applause, the digital quality and crowdsourced testing solutions provider, has released the global findings of its annual Retail Quality Report. It shows that global retailers are failing to keep up with consumer expectations for optimised digital experiences.
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.
