E Commerce And M Commerce

1545 Words Oct 15th, 2015 7 Pages
SOCIAL

In the past few years, new channels to market have come into existence which including e-commerce and m-commerce and have gained popularity rapidly. This has opened up new gateways for the retail sector in the face of the home delivery, and has resulted in the reduction of customer’s footfall.
Advances in products themselves have driven change, such as digital downloads of entertainment media from books to computer games. Retailers with numerous stores over the UK perceive that they no more fundamentally need a physical vicinity in each high street so as to accomplish national coverage, and therefore some are reducing their physical presence. Other retailers are innovating their existing space to enable new services and new formats. They are either sharing the space with other service providers or amalgamating into joint ventures regarding the site usage.
UK consumer base is demanding, with an emphasis being on convenience, experience and market segmentation. At the same time, lifestyles are also changing. With cyclic employment prevailing in the market and with many people working longer hours than before, has led to consumers demanding a greater choice of high quality goods and services which are convenient and economical.
Furthermore, the UK is undergoing an enduring demographic shift towards an older population. The Office for National Statistics projects that by 2033 there will be around 20.5 million people over the age of 60 that accounts for nearly 29% of…
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