E- Business and Opportunities for Retail Sector - myassignmenthelp

Question: Discuss about theE- Business and Opportunities for Retail Sector. Answer: The Retail sector is the oldest and fastest growing sector in the world. Goods sale in the physical store direct to the consumer and not for resale. E- Business are gaining momentum in this ramified economic changing business environment. There are many changes in future that would surely result to better opportunity for the retailers. Online business in each and every filed are growing continuously in comparison with other off line business. However, these online businesses are accompanied by various demerits such as communication problem, timely delivery of goods and services and cyber-attacks. Although retail stores are traditional way to buy any goods by the consumer so they are profitable for both retailers as well as for consumer. Quality of goods is another measure concern while selling goods and services online to customers. There are many retailers, globally expanding their business by opening their stores worldwide through online marketing channels. Traditional retailers sh ift their business model and enlarge new attractive concept to focus large consumer. The most advantage of retailer stores are they give their consumer what they seeking for. It must be essential for the retail stores to digitize their store which meets the current as well as future need of the retailers (Zhu and Lin, 2015). Myer is the traditional style of departmental store which provide wider range of goods by providing men, women and childrens clothing, footwear and several kind of accessories. Myer is one of the best retail stores in Australia. It is the fastest growing retail store and expanding their business globally. By providing various facilities to the consumer Myer believes in customer satisfaction. Myer provide both physical as well as digital environment for the consumer (Choudhuri, 2014). It allows their consumer to interact with the physically available goods. Business retail stores need to allow their system to match with growing technology and update themselves by new systems to compete the future hurdles and with E-commerce. The technology can change and give easier way to meet their consumer to retail stores. This type of supermarket gives all kind of product in one roof and customer needs not to waste their time to look around for likely products. Social media is also the key featur e for the growth of the retail business as it may passes the quality and customer experience with other people (George Wynn, Turner and Lau, 2013). There are many retailers which newly come to retail store market and such type of competition is good for the future growth of the retail stores. As retail stores are very traditional in the market it is also less in cost in comparison with online products through online products includes delivery charges and other charges. The future retail stores are bringing more simplicity to available their product as nearest to the consumer. This type of large and huge supermarkets provides more ductility and aside the difference of offline and online business (Ahokangas, et al. 2014). Myer is going to adopt various types of new arrangements which may provide better facility to the consumer. One of the most important things of retail stores is that it provides representatives for displaying the product. It gives positive response to the consumer (A hokangas, Juntunen and Myllykoski, 2014). References Zhu, Z. and Lin, S. F. 2015. Entrepreneurial Perceptions and E-business Opportunity Discovery: Evidence from China. Choudhuri, P.S., 2014. Scope of E-business opportunity in life insurance sector: A study on life insurance corporation of India.South Asian Journal of Marketing Management Research,4(3), pp.95-106. George Wynn, M., Turner, P. and Lau, E., 2013. E-business and process change: two case studies (towards an assessment framework).Journal of Small Business and Enterprise Development,20(4), pp.913-933. Ahokangas, P., Juntunen, M. and Myllykoski, J., 2014. Cloud computing and transformation of international e-business models. InA Focused Issue on Building New Competences in Dynamic Environments(pp. 3-28). Emerald Group Publishing Limited. Ahokangas, P., Matinmikko, M., Yrjola, S., Mustonen, M., Posti, H., Luttinen, E. and Kivimaki, A., 2014, April. Business models for mobile network operators in Licensed Shared Access (LSA). InDynamic Spectrum Access Networks (DYSPAN), 2014 IEEE International Symposium on(pp. 263-270). IEEE.