E-Commerce And Retail

E-commerce is growing faster than any other retail sector and is being embraced by more people every day. However, retailers are definitely not obsolete. In truth, statistics have shown that around 90% of sales still take place in retail stores, whereas online sales only make up to 10 % with an expected increase of 15% annually. This essay will focus on the development of e-tail trends and what their benefits and drawbacks are. For coherence, my argumentation will concentrate on 3 factors; starting with a closer look at the convenient aspects of e-tail, followed by the availability of goods and lastly looking at prices/costs. For clarification, I will define the terms e-tail and retail. Retail refers to the sale of products directly to the

With the advancements in e-commerce and e-tail business, new opportunities for selling products have opened for both consumers and suppliers. Online stores allow their users to purchase goods in a timely manner. It saves time as people are not required to put on clothes, drive to the next retail store, and buy the products in person. In fact, it is very easy to access online stores via mobile devices and buy almost anything with a single click. However, there is a certain downside. Purchased items are not immediately available and have to be shipped. Furthermore detailed descriptions and pictures help immensely in choosing the right products. Reviews of dedicated customers, who have already had the opportunity to test out the goods, can also provide more independent and somewhat reliable insight. Hence customers have a lot of information available to base their decision on, but are still unable to check items physically. Lastly, calibrated search engines improve the shopping experience for many customers. With numerous product categories, a quick and efficient search is almost always

Unlike retail, online stores can be accessed from anywhere if an internet connection and a net-enabled device are provided. With the internet being virtually unrestricted in regards to region, the customer is also able to get his hands on goods and services from abroad. In other words, his choice is not limited to local produce; instead a wide range of products from different vendors and countries are available. Additionally, orders can be placed at any time during the day, 24/7 without any delay. Thus the customer does not have to depend on the opening and closing times of physical retail stores. Also while certain products that the customer is looking for might run out at local stores, online stores tend to have on average a much larger stock available. If necessary, appropriate substitutes can be found online more quickly as