Title: Online Shopping Festivals: The Biggest Trend This Year
Submitted By: Geetanjali Gulati
IIM Lucknow
Piglet: Pooh! Why are you late today?
Pooh: I was shopping?
Piglet: Huh? Shopping?!?
Pooh: Yes. Haven’t you heard about the Great Online Shopping Festival?
Piglet: Ooooh. No!
Pooh: 3 days of unadulterated crazy shopping. 80% discounts! It’s fun!
Piglet: Oh. What did you buy?
Pooh: Honey. Loads.
3 days. 450 retailers. More than 30 categories. Discounts up to 80%.
Ladies and Gentlemen, welcome to 3 days of forget-everything-just-shopping experience. The GOSF, launched as a single day online festival in 2012, came back in 2014, bigger and better. Number of participating retailers was up by almost 100%, and visitors increased by more than 120%. Taking a cue from last year, revenues will see an uptrend of at least 3.5 times.
What was new this year was a 299 section, where everything was priced at Rs. 299. There was also an Exclusive Launch Corner, where exclusive items like Chromecast and Nexus 6 were available for the first time in India. Learning from the mistakes of previous years, this time there were no technical glitches. To add to the excitement, there were “pre-party celebrations” in the form of contests and games. In fact, hashtags like #72hoursofcrazy were trending on twitter.
Some interesting trends emerged this time. Male shoppers dominated the GOSF-77% were males and 23% were females. So it doesn’t surprise me that electronics was the favorite category,
Coe College’s students each identity into their own various categories and subgroups of one another. These groups can be labeled by the individual's’ race, heritage, location, or more specific groups such as what sports the individual plays, what clubs, or what they value the most. Every person on Coe College’s campus is unique in their own way and if a narrow mind is looked upon an individual, it may seem that there is no common group between anyone. It is not until we extend past the differences to find commonalities that we can look upon to find common ground while still respecting the differences that make any person different from the other. As a member of Coe College’s most diverse class, it is essential to be more united than divided
Diverse specialists that definite into Pharaoh were the equipped power head, the focal treasurer, and the minister of open works. These experts each had unmistakable obligations and powers, however Pharaoh had the last say. A substantial number of the Pharaoh's specialists were priests and recorders.
A famous writer for the New Yorker, Malcolm Gladwell has written an article, “The Science of Shopping”, which is based on Paco Underhill’s study of retail anthropology. The intention of a retail store is obvious- that is to attract customers and convince them to perchance as much as they can. There is so much knowledge that we can study, such that how the environment affects people’s thinking. These are tiny details that we don’t usually think about. The reason of how Paco Underhill success is because he notices these details. Details determine success or failure. Paco Undnerhill—a talent and passion environmental psychologist, provides us a new point of view of the science of displaying products,
We suggest the following four ways to make retail shopping experience completely pleasing and at the same time nullify the gap between in-store purchases and online shopping.
“What we need to do is always lean into the future; when the world changes around you and when it changes against you - what used to be a tailwind is now a head wind - you have to lean into that and figure out what to do because complaining isn 't a strategy” (Jeff Bezos). Shopping is always changing, just as everything else around us. Shopping has gone as far back as the 1500’s. Since then it has changed a great deal, at first shopping was just trading anything you found had the same value as the thing you wanted. Over the years, things changed and the people that owned shops were mostly owned by craftsmen such as carpenters, bakers, butcher, and blacksmiths. Centuries have passed and shopping became the pastime for most people more and more people spent their time looking for items with their friends and families. In the 20th century more and more people started buying, home computers and one man had the great idea to make a store through the internet and his name was Jeff Bezos, he created the most visited store on the internet called Amazon on July 5, 1994. At first Amazon only sold books, but over time it started getting more and more merchandise to sell and now it sells books, electronics, candy, or furniture it has involved in the first place you can go to get anything you might need on an everyday basis and becoming what the founder wanted as an “everything store”. Shopping is to visit one or more stores or websites to buy goods such as clothes, electronics, and
The traditional retail market has been transformed by technological advances. The internet today has allowed consumers to purchase various products from home ranging from apparel to groceries. The online shopping market has grown significantly within the past decade, leading to many online e-commerce startups such as Amazon, eBay, and mobile start-ups such as Instacart. While e-commerce provides convenience for shopping, it has created major disruption to the traditional shopping industries. Traditional retailers have since faced bankruptcy due to their inability to compete with such start-ups. The traditional American toy store, Toys R Us, announced its state of bankruptcy just last month due to a significant decline in sales. More and more consumers are turning to online giants such as Amazon to purchase daily items as a result of convenience. According to the Washington Post, Toys R Us is just one of more than 300 retailers to file for bankruptcy this year, as Americans ditch the shopping mall in favor of their laptops, smartphones, and tablets (Bhattarai, 2017). Shopping which used to require walking or a vehicle trip to stores is no longer required for consumers with online shopping. Online shopping has appealed to consumers worldwide by encompassing the business aspect of service convenience which constitute saving time and/or effort (Jiang, Yang, and Jun, 2012). For consumers whom have busy lives and those whom are physically disabled, online shopping is a positive
I used Etsy to purchase an antique pocket watch for my mother, for mother’s day. On the product page, I was informed that I would receive the product in about five to six business days – which I thought would be perfect as it would arrive in time for mother’s day.
Likewise, (Wee, 2002, cited from Dawson, Bloch, and Ridgway, 1990) stated that some consumers have experiential motives for shopping which result from hedonic or recreational motivations. Through a survey of visitors, the results clearly
E-Commerce Trend: Three signs you have outgrown your accounting system Growth and expansion is an exciting part of any business venture, but having the wrong tools, software, or systems can cause headaches. Updating your accounting system from low-end software to a fully integrated system is essential to removing those headaches. It is more than just a luxury for your growing business: it is a fundamental tool that will save you time and money, while reducing frustration. How do you know when it is time? New growth means knowing when to trade in your small business accounting system for a fully integrated system that encompasses and integrates all aspects of your business. While your current software may have served you well at the outset,
relatively few shopping opportunities. People who spend a lot of time on in-store shopping are typically women,
As the sun sets on retail, it rises for eCommerce. With the dawn of one click purchasing through the web, the retail store now fits into the palm of our hand. The lines, hassle and headache of retail is quickly fading into the rear view. Malls, and old guard retail chains are downsizing, closing and restructuring through bankruptcy. All data indicates, that the retail industry is desperately trying to adapt to keep their head above water, and is in need of a solution. We believe we have that solution.
Based in Seattle, Washington, iPremier a leader in online retail sales became a successful company in the internet-based commerce industry. The company retailed luxury, rare, and vintage goods online. In 2008, the company hired Mr. Bob Turley as their CIO to take their operations management to the next level. Six months into his reign, the company’s website experienced a denial of service (DoS) attack that caused chaos and confusion in the company as no contingency or disaster recovery plan existed. During this incident, it was discovered that there were no standard operating procedures to follow which lead to confusion upon the employees. Furthermore, they failed to get any form of support from the Qdata, an outsourcing hosting company that was in charge of providing internet security services, which led to a cascading of unsuccessful events in dealing with the attack. Many of the existing processes were unproductive including the escalation of the problem. This attack temporarily crippled the company’s online retail website triggering customers to contact the helpdesk. In reviewing this security breach, it is recommended that iPremier revaluate its governing values of “discipline, professionalism, commitment and partnership for achieving profits” and the corrections that ought to be implemented to prevent another occurrence of the problem that was experienced.
Ladies and Gentlemen, welcome to 3 days of forget-everything-just-shopping experience. The GOSF, launched as a single day online festival in 2012, came back in 2014, bigger and better. Number of participating retailers was up by almost 100%, and visitors increased by more than 120%. Taking a cue from last year, revenues will see an uptrend of at least 3.5 times.
I agree with your post. I believe that brick and mortar businesses are highly relevant despite the fact that e-commerce is on the rise. I too enjoy shopping online sometime mainly due to my shopping habits and simply out of convenience. Joseph (2016) acknowledges that, E-commerce has the convenience component nailed down. Moreover, that is essentially why people like online shopping, consumers like that they have to exude little effort or difficulty, they simply just have to scroll down a page to look at the products available and place them in their online cart. Likewise, they are able to avoid waiting in lines and searching for a parking spot. However, convenience is highly important and essential especially in today’s time when people have so much on their plates that they rarely have time to factor in time for shopping in actual stores. Furthermore, the reason as to why brick and mortar stores are still relevant and people still utilize them is because they have some attributes that E-commerce does not have such as an opportunity and time for consumers to walk into a physical store, opportunity for face-to face interaction, able to physically pick up the items, feel them, smell them or taste them.
As internet search developed, online shopping has gained its popularity significantly. Thanks to the internet, consumers are now able to get accurate information on products and services easily, without even having to leave home. Internet has played an important role in both searching and purchasing goods. In this essay I would like to discuss the impact of internet to markets in theory, and what happens in the real world.