Introduction With a steady increase of time, effort, and money being poured into digital marketing over the past few years, one can only wonder what this means for the future of online exchange, or E-commerce. It is said that by 2016, the web will impact purchase decisions of sales totaling $2 trillion. This is over half of all retail transactions (van Bommel et.al.). Digital strategy is no longer something that can be overlooked, an extra tool for a company to take advantage of if they have the time, it is a key marketing driver in our technologically dependent society. The E-commerce industry as a whole has only been possible since commercial internet use came about in 1991. Meaning, this is a young industry which has seen rapid growth in such a short period of time. Because of this, there is a big push to see how the purchase decision is impacted by the rise of E-commerce. However, because this is a young industry, there is much marketers still do not know about the online purchase decision made by consumers. What does the future of e-commerce look like? What do marketers need to know in the creation and implementation of digital strategy? Where are the gaps in our current knowledge? This is where my research begins.
Literature Review My research began with reading current postings, articles, and studies looking at all different topics within the E-commerce industry. After thorough analysis of these pieces of literature, I was able to break my research down into three
In the contemporary society, the use of e-commerce has gained much popularity among many nations globally. This has been enhanced by the use of digital media which, has to a large extent boosted the way such activities are carried out. E-commerce is the transaction by which individuals do the act of buying and selling of products and services through online platforms. This paper, therefore, sheds light on how digital media have influenced the field of e-commerce in the US, France, and German.
The internet and World Wide Web are extremely well suited for conducting business electronically on a global basic, Web-based Electronic Commerce(EC) has introduced unprecedented opportunities for the marketing of products and services, accompanied by features, functionality and innovative methods to serve and support consumers. E-commerce has became a major catalyst of the economy and remains a vital growth engine for businesses today, It successful change the consumer behavior. Consumer purchases over the Internet continue to grow from year to year. The survey involving
According to MarketLine, the world online retail market expanded by almost 18% in 2010 and is predicted to reach close to $435 billion in sales. The market is expected to reach a 90% growth by 2015 and exceed $827 billion in sales. Listed in an article “Ecommerce Growth Statistics”, the average amount spent by each consumer is expected to rise from $1,207 per year to $1,738 per person by 2016. That is a significant increase. That shows that people prefer to shop online than going to the actual store in today’s society. Shoppers will spend on an average of $327 billion online shopping in 2016, which is about 45% from $226 billion in 2012. It is very evident that consumers will drive ecommerce into the future; especially e-retail. In just a few years, purchases online will be more profitable than ever, with others products and services available to purchase such as mobile and social allowing consumers to shop to their convenience. For retailers and
There are many different business trends shaping e-commerce today. For one, ecommerce remains the fastest growing form of commerce when compared to physical retain store, services, and entertainment. Another trend is that the online demographics of shoppers broaden to match those of ordinary shoppers. Also, small businesses and entrepreneurs continue to flood through the e-commerce marketplace, often riding on the infrastructures created by industry giants and increasingly taking advantage of cloud-based computing resources. Lastly, pure e-commerce business models are refined further to achieve higher levels of profitability,
Marketing, just like any aspect of a business’ socio-economic complex, has seen tremendous growth in the past few decades. Primarily motivated by the ever-advancing technology, marketing has taken a bold new perspective that rivals its former self in terms of reach, effectiveness, and general appeal. Industry pundits have acclaimed new age marketing techniques as thoroughly sufficient and one through which economies stands to benefit substantially should they be employed. One such emerging offshoot is digital marketing.
This study will prove that e-commerce has grown because it adds value to people’s lives. It will show that e-commerce will not disappear but evolve into something even greater than what it is right now.
Many organizations industriously look for the opportunity to gain the competitive advantages in their industries. One of the opportunities that frequently used by the organization is the implementation of e-commerce. Thus, the e-commerce and the online sale transaction become popular in each industry. E-commerce provides many benefits, such as the saving of shopping time, the cost savings, convenience, and free from geographical constraints.
The development of new technological innovations, such as the Internet, has brought on changes for the market. The Internet offers a world-wide network, which connects millions of individuals and businesses and creates a global marketplace with huge business opportunities (E-business, eEurope, n.d). More and more companies have discovered the advantage of using the Internet as a communication tool to reach consumers at any place and at any time. This also enables consumers to search and gather information about products and services online. The word e-commerce refers to all transactions online. Electronic commerce (e-commerce) is the area in which we are to do our research and throughout this dissertation we will discuss consumer trust in
In last ten years, internet users have increased from 10 million to over 600 million worldwide. [NUA, web survey] This rapid increase has brought a paradigm shift in the business strategies and introduced new marketing concepts. According to figures released by US department of Commerce, online retail sales in US alone had crossed over $ 50 billion in the year 2002. [E-Commerce Times, February 26, 2003] Analysis of the sharp rising graph of sales over internet, predicts direct channel to be the most utilized channel of the future. A lot has been written on the subject of e-commerce and its importance in today's expanding world of technology. A critical appraisal of online selling / direct channel highlights the following aspects:
The potential benefits ofdigital-based strategicapproaches of m-commerce and e-commerce have not been questioned. Achieving such benefits has a concern among current practicing managers and scholars alike. The rush to join the e-crowd have made many organizations utilize a me-too approach to the implementation of m-commerce and e-commerce. These organizations lack the systematic and integrated strategy needed to realize the potential benefits ofdigital technologies. These organizations do not have a complete, well-integrated digital strategy. A piecemeal approach, coupled with me-too orientation will result in anineffective implementation of strategic e-solutions, such as m-commerce and e-commerce. This leads to investing in attractive technologies without having well defined strategy to use such technologies strategically. This approach to implement digital-based technologies, such as m-commerce and e-commerce, is bound to fail, as it lacks the strategic focus needed to support the customer orientation.
Employee must ensure that the manager understand their obligations and comply Human Rights Legislation has the most impact on HR decision , it protects employee from harassment both at workplace and sexual. (www.enotes.c
E-marketing is described as “achieving marketing objectives through the use of electronic communications technology” (Chaffey, 2014). The purpose of this essay is to discuss how the growth of the internet is altering the relationship between consumers and brands and also the opportunities that are now available to retail marketers. Key points that will be focussed on in this essay are; the characteristics of the internet and their implications, communication models available to marketers, the market environment online and the overall impact the internet has on consumer behaviour.
E-commerce has origins that trace back to the mid 1900s. In these times very few organizations had access to the very expensive electronic data interchange (History of E-Commerce, n.d.). E-commerce is now being used in all types of business, including manufacturing companies, retail stores, and service firms. E-commerce has made business processes more reliable and efficient. Consequently, e-commerce is now essential for businesses to be able to compete in the global marketplace. “E-commerce is now being used in all types of business, including manufacturing companies, retail stores, and service firms. E-commerce has made business processes more reliable and efficient” (Smith, K.T., 2011, p.3). Consequently, e-commerce is now critical in order for businesses to compete in the global marketplace. Knowledge that was distributed over this network paved the
Every business organization knows that great marketing helps find and retain customers. In general, most recognize that there are several ways to market their products or services. Now more than ever, people spend more time online than they spend reading books, or watching TV? For this reason, digital marketing continues to grow and provides a way for companies to market to their consumers where consumers are spending their time!
Consumers have started believing in e-commerce because they can shop things without having to compromise on their comfort zone. They can order their favorite candy or their favorite shirt online, without going outside in the comfort of their bedroom. This can be very useful when it comes to comparing things and various brands. E-commerce has been a total revelation for both the businesses and consumers. It is because of this e-commerce that many companies have started their business, and they can offer their services. The