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Why the prevalence of e commerce
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E-commerce, especially online shopping, is very common nowadays. Most people purchase the products that they are looking for by visiting the online stores. This essay will examine the changes that e-commerce made, the conditions at the time that made e-commerce favorable for the game changer to emerge and the reasons why e-commerce had a lasting impact. E-commerce gives a convenient method for consumers to purchase the products and provide more opportunities for sellers and buyers to have interactions. As the technological network improved rapidly and both sellers and customers could gain the benefits from e-commerce, it became favorable for the game-changer to emerge. Also, willingness to improve the online shops lead to a lasting impact.
Providing a convenient way for customers to the marketplace and creating more interactions between sellers and customers were the reasons why e-commerce was a game changer. A convenient way to the marketplace is provided by e-commerce as it is available anytime for every customers. This can meet the need of the customers who have not enough time (“The Internet and the Consumer Marketplace” ,2012).In other words, they can get into the online marketplace at any time, through Internet, even though they are lack of time to purchase goods they need from shops. By e-commerce, consumers can have interactions with sellers from different countries easily .It can help consumers to look for products that are unavailable in their countries (“The Internet and the Consumer Marketplace”, 2012).This means that consumers can find the products they want by interacting with the foreign sellers through the Internet conveniently.
Under the condition of the rapid improvement of technological network and the bene...
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...h had a huge influence in the world.
Works Cited
1. The Internet and the Consumer Marketplace: Chapter 2 — Consumers and Changing Retail Markets (2012). In Industry Canada Website. Retrieved November 19, 2013, from http://www.ic.gc.ca/eic/site/oca-bc.nsf/eng/ca02096.html
2. Online shopping becoming critical for long-term retail success. (2013). In Collective Point of Sale Solutions. Retrieved November 20, 2013, from http://www.collectivepos.com/payment-processing-industry-news/merchant-services/online-shopping-becoming-critical-for-long-term-r
3. Kim Stinebaker. (2013, May 14). Online shopping has some benefits. Chron. Retrieved fromhttp://www.chron.com/homes/senior_living/article/Online-shopping-has-some-benefits-4515445.php
4. Dave Roos (n.d.).The History of E-commerce. Howstuffworks.
Retrieved from http://money.howstuffworks.com/history-e-commerce.htm
Key Issues The growing popularity of online retailing is attracting competition from traditional and online multi-retailers such as Wal-Mart and Amazon, which are gaining considerable market shares in many of the product segments included in the specialty retail sector. Currently, the majority of revenue is generated by store sales, but online sales from the stores’ websites are increasing. With the US dollar getting weaker, international sales from these US based websites are increasing too. This creates a significant positive outlook for the large incumbent players but also acts as a significant barrier of entry for new players.
Amazon.com operates in the Online Retail Industry. The sector is one of the fastest growing globally and is outperforming the ordinary retail marketplace. It was created after 1995 and it was only the Internet that made it possible for such an industry not only to be established but to become one of the most flourishing sectors in the business environment. What is interesting is that Amazon.com, together with eBay is the pioneer in the field. Both companies were launched in 1995 and are still extremely successful. The creation of e-mail in 1996 had a huge impact on the development of online retail by introducing a fast and easy way to communicate with customers. For this two-year period Internet usage doubled annually, thus, allowing for the expansion of the industry. Google is launched a year later, in 1998, only to become the most used search engine in the world and an essential partner for the online retailers by helping them tailor their websites to customer’s personal preferences and by advertising. After that, more and more people see the opportunity in the growing industry and enter it. By 2001 there are more than 513 million Internet users globally, which calls for action in terms of creating regulations and laws to protect the users and personal property. In 2003, Apple launches iTunes, and provides a platform for low-cost digital downloads. Another major change is the appearance of social media from 2004, which is one of the biggest influencer on the state of the industry. With the launch of iPhone in 2007, this trend strengthens as people get to enjoy the Internet anywhere they want to. From then on, technological advancements have made it extremely easy and fun to shop online, making it ...
Essentially, a trading is an activity when two parties do some exchanges of goods or services on value that had been agreed by both sides. In the past, barter was the famous method to do trading. Over the times, money and currency were discovered, and then barter is not popular anymore. Nowadays, while the Internet technology has advanced rapidly and reliable, electronic trading has started to replace the physical trading market in over the world (Massimb & Phelps, 1994, p.39). This phenomenal has led many businesses to change their traditional business model to be more adaptable with electronic trading environment, from physical shop to be virtual shop. A company or seller is not only have to show their existence in real world, but also in the online networks. However, there are some differences between strategy in traditional market and online market place, eBay as an example.. Therefore, this essay will discuss any critical aspects that need to be considered to start online business in online market such as eBay.
Since the establishment of the Internet, traditional ‘bricks and mortar’ stores, also known as store-based retailers, have been under siege by online retailers. As stated by Magner (2013), the next five years will observe an increase in online sales, domestically and/or internationally, as it provides consumers with a wider variety of products at competitive prices, no shop-trading hours and no GST payable on purchases made overseas which are under AUD$1000. Furthermore, the retail lifecycle for the majority of store-based retailers has hit the mature to decline phase. Magner (2013) states that a “slowdown [in] technological system changes and wholehearted market acceptance and market saturation of products” have been strong indicators for the store-based to reach the maturity phase. Additionally, the changes in consumer lifestyle, product range preferences, low-cost private–label merchandise and slow technological advances are factors preventing the sector from propelling into the growth retail lifecycle phase (Magner 2013). Examples of firms that have been affected by digital retailers are Myer and David Jones as they face disadvantages factors like high operational cost (i.e. labor and rental cost), low range of products in comparison to online retailers (Denness 2014). The example is further illustrated by Figure 1 (above) as it provides statistics for the falling revenue for department stores to digital retailers (NAB Group Economics 2014). Moreover, the averseness of larger store-based retailers to invest in online retail channel has resulted in an increasing number of competitors targeting lucrative Australian consumers. An example is UK-based fashion retailer ASOS, which launched a website dedicated to Australian patrons, ...
E-retailing presents a new way to shop. The store is open 24 hours a day. With a few clicks of the mouse, consumers can compare prices easily. The key rule for purchasing online is the same as for traditional purchases. That is, the best consumer is the best-informed consumer.
Based on these concerns, retailers in the international marketplace have their work cut out for them. But through proper education of consumers, and the ever-expanding growth of the infrastructure in many countries, the future seems to be leaning heavily towards using the Internet for many needs.
E-commerce, a system by which people can buy, sell and deal without even seeing the person on the other side, has taken a front seat in improving the economy of countries around the world. Technology today has made it possible for monetary institutions to help locate the customers resources and help solve their problems at any given time through online banking.... ... middle of paper ... ...
Internationally the share of online sales in retail is growing, driven by the increased sales in existing online retailers as well as by the market entry and expansion by traditional bricks-and-mortar retailers into eCommerce (Hübner, Holzapfel & Kuhn 2016:256). Conversely, online retailers are accelerating their expansion into bricks-and-mortar retailing. One such example is the merger between Amazon and Whole Foods Markets, a $13.7bn agreement under which Amazon will acquire Whole Foods Markets in an all cash transaction. This deal accelerates Amazon’s establishment of a bricks-and-mortar footprint, allowing it to reduce delivery lead times and last mile delivery costs (Retailanalysis 2017).
The Internet is rapidly becoming widespread and widely used as a tool for globalization across the world. As the Internet became more easily accessible by most people in the world, the web is bringing significant implications and changes to the way we live, including the way we shop. There is a rapid growth with e-commerce and moving businesses onto the web and retail success is no longer about stores and shopping centers. In developed countries, about two thirds of the population have access to the Internet making the option of online shopping is easily accessible to most people (Valerio). With the ease of shopping in your own home there are many benefits of doing your shopping online. Consumers can easily compare prices online, there is a larger range of products on the web, you can save time by having your shopping delivered right to your doorstep and it also overcomes physical barriers. Over the last decade online shopping has challenged and replaced the traditional means of physically going into shops as the digital world has provided customers with further convenience, flexibility and comfort from shopping from your own home.
The Information revolution is changing our daily lives. With the rapid development of computers and the internet, online commerce has become quite common and plays an important role in the modern world. Online business has been booming in recent years. US online retail sales rose an average of 11% in the first three months of 2009 (“US Online Sales Up,” 2009). The growth of online sales may be due to the growing number of consumers who shop online.
Online retail and shopping sales has been growing consistently every year, not just in the US but worldwide. Not only does online shopping give customers more convenience, more variety, and more discreetness but it also gives customers better prices. While it is quite true that Wal-Mart has product variety and cheap prices – things customers want – the physical stores do not really give the convenience and discreteness that online retail and shopping does.
In today’s era “INTERNET” is playing a significant role in our daily life. People can walk through the internet to one who is actually living on the different side of the planet, can send mails round the clock, search information & even buy things online. With this invention of internet there is a shift in traditional way of shopping. Now there is no need to open a physical store. One can be active at any time and place and purchase products and services. The number of users of internet is increasing day by day which means that online shopping is increasing. Various characteristics of online shopping is making it more convenient for the customers, as compared to traditional way of shopping such as the ability to view and purchase goods and
Electronic Commerce as popularly as E-commerce has become a big deal in our growing economy due to the increase use of online systems. E-commerce now of the fastest growing business in the world. The technology has change the way of business. Business that have physical location have now made it an effort to focus their online business. It is the new sort of business platform where you can make use of different technologies like electronic data interchange or transfer document electronically. Online business is an effective of sales.
Online shopping is almost synonymous with customary shopping through brick and mortar stores. As indicated by UCLA Center for Communication Policy, online shopping has been rising as a standout among the most famous web exercises, marginally behind e-mailing and internet surfing and in addition surpasses online entertainment search and online news. Online shopping conduct (additionally called web purchasing conduct and Internet shopping/purchasing conduct) implies the procedure of buying merchandise/goods or services by means of the Internet. In a standard online shopping procedure, potential customer’s see/feel/sense a necessity for some good or service and they approach online shopping to search for the product/service and make a purchase decision to gratify the need. In some cases, instead of looking for something intentionally, once in a while potential customers are pulled in by information about merchandise or services that meet the felt need.