Businesses Closing Online stores are growing in popularity and drawing attention. Because of this, other retail stores are losing that attention and business. Some major stores include Sears, Radio Shack, JCPenney, Macy’s, Payless ShoeSource, Dillards and more. These are called brick-and-mortar stores. According to www.merriam-webster.com the definition of a brick-and-mortar store is, “a traditional business serving customers in a building as contrasted to an online business” (Brick-and-mortar, n.d.). “It’s possible more than 8,600 brick-and-mortar stores will close their doors in 2017 (…) JCPenney announced plans to shutter 138 stores by July, Payless ShoeSource is closing hundreds of stores, and Macy's said it's shutting down 68 locations” (Wattles, 2017). What a shame to lose these resources and businesses, especially for those who support and appreciate the local retail option.
• Collaborative. From a collaborative perspective, e-commerce is a framework for inter- and intra-organizational collaboration. • Community. From a community perspective, e-commerce provides a gathering place for community members to learn, transact, and collaborate. The most popular type of community is social networks, such as Facebook.
Introduction Shopping has become easier to do now that almost everything is electronic. When it’s time to go back to school shopping, all you have to do is hop on the computer and find what you need, and have it delivered to your home. This makes it easier for parents with small children or even parents who live in Weatherford away from major shopping centers. Brick and mortar shopping took place in a storefront only; so, if you were looking for something specific and they didn’t have it, you would have to order it online and ship it to the store anyway. Now that stores have decided to utilize the internet people can do the ordering from the comfort of their own homes. My hypothesis is that online shopping will make brick and mortar shopping obsolete. While there are benefits to shopping online, there are also many downsides which will be discussed later on.
E-Business E-business stands for electronic business. The role of E-business is conducting the business via the electronic by synchronizing all the supply chain to make the process more efficient and get to fulfill more customer demand. It could reduce the cost of production, expands the business by giving support from business to business. While, E-commerce is the process of transferring money which is different from e-business, so e-commerce is being considered as a part of e-business.
1. Explain how Apple achieved business success through the use of information, information technology, and people.
But will online stores be the catalyst for the fall of traditional shopping? Pros & Cons of Online Stores vs. Retail Stores To help determine whether traditional shopping will be phased out in the future, here are some Pros and & Cons of online stores compared to retail stores, according to Stacy Zeiger from the Houston Chronicle:
Due to rapid progress in the internet and cloud computing technologies, electronic commerce is becoming more and more popular. Many people and businesses deal with their payment transactions via the Internet. In a conventional payment system, buyers and sellers transfer cash or payment information through credit cards and checks, however in early electronic payment systems, online payment services must add capabilities to process orders, accounts and receipts. As e-commerce has gradually grown, digital currency payment have become popularized. The technologies of credit cards, electronic tickets, electronic cash (e-cash), and other advanced payment services have realized the vision of electronic commerce. Credit cards, debit cards and
The E – Commerce Industry Global Business Operations MIB London – Jules Ketterlin Market Overview 3 Key data about the online retail market 3 A fast-growing but fragmented market 3 Market Environment 4 PESTEL Analysis 4 Political 4 Economical 4 Social 4 Technological 4 Environmental 5 Legal 5 Competitive Rivalry 5 Amazon 6 Presentation 6 Key figures 6 Corporate strategy and challenges 7 Strengthen online business through Amazon Marketplace 7 Expansion of Amazon Web Services 7 Foray into mobile hardware and e-book market: Amazon Kindle 7 Financial indicators 7 Recommendations 8 Alibaba Group 8 Presentation 8 Key figures 8 Corporate strategy and challenges 9 Leverage the strength of a complete ecosystem 9 Make Alipay a leading global online payment platform 9 Recommendations 9 References 10 Appendix 11 Appendix 1 11 11 Appendix 2 12 12 13 Appendix 3 13 Appendix 4 14 Market Overview Key data about the online retail market In 2013, online retail spending are estimated to reach $1.3bn, up 19.2% in 2012. In this global market, Asia accounts for 33% of the market, followed successively by North America with 31.5% and Western Europe with 25.7%. On average, online retail spending grew by 21% a year between 2011 and 2013, with the main growth being located in the Middle East with 37% average growth and the Asia-Pacific region with 32%.
E-commerce – This is about the purchases and sales of goods and/or services via electronic channels e.g. internet. It is very convenient to use online retail because it is available 24 hours; it is a global reach and ease of customer service. E-commerce was first introduced in the 1960’s and
In the past couple of the decades, internet technology has grown enormously. Users have access to millions of resources in front of them instantly. According to Zakaria “the internet users in December of 2000 were “360,985,492”, and in December 2011 the number of users became “2,267,233,742”, with a growth of 528.1%.” The in The world of businesses is changing because of E-commerce has been essential tool for businesses. About 53 percent of all purchases are by E-commerce Businesses have come up with plans to use E-commerce to deliver their products and services to the market. However, there are some risk of using E-commerce, the risk are financial, performance, or social risks. Not taking the right steps and having poor security can cause identity theft.
E-Commerce has been a popular activity on the Internet, for it facilitates commercial acts between online service providers and individuals. The popularity of E-commerce could be reflected by the turnover of the industry. The turnover of e-commerce in Europe grew by 14.3% to reach 423.8 billion euros (about GBP 360.5
BuildDirect, an e-commerce organization in the home improvement division, began with only two employees. However, they experienced rapid growth in less than a decade. Sustaining the original culture, vision, and mission can become a challenging endeavor for organizations like BuildDirect to overcome through periods of expansion. In order for BuildDirect
Organizations today face a lot of competition in the market and they try every day to find new ways to stay ahead in the race. To achieve what these organizations desire, they require data and some efficient analytical applications to analyse this data. Analysing the data and making certain decisions towards the growth of the organization, to remain ahead of the growing competition, forms the crux of competing on analytics.
But a major impact of this growth is the decline in recent years of big box retailers and subsequently the fall of "The Mall". As more consumers choose to do their shopping online many retailers and shopping centers are being left behind. As the number of failing malls begin to rise and consumers choose in larger numbers to forgo the lines and do their shopping online, it is a trend that we predict will grow in importance and impact in the coming years.
Many stores are already feeling the effects of online shopping. Big department stores like Sears, Kmart, Macy's, and J.C. Penney have filed bankruptcy. According to The Independent, about 300 retail businesses went bust just between January and June of this year. Online shopping isn't the only reason that they're closing down, but it does play a significant role in their closing. The reason why these stores are closing down is that they just cannot compete with online shopping because they don't have reasonable revenue for brick and mortar stores to compete with these monstrous