The Growing Online World
The online sector has been widely growing in the past decade; however, Price Water House Coopers (2011) has researched and predicted that in the next four years the online market will grow twice as quickly as the total retail market.
There are various reasons for this, to begin with the three main reasons why people shop online: to get a wider range, better price and higher convenience from the comfort of their home. Additional reasons for the increase growth rate are suggested to be the increased use of smart phones and tablet computers (Price Water House Coopers, 2011). The advantage of being able to surf and browse the web at any place and at any given point of the day increases the chances of an individual shopping online. In many countries the Internet has been growing and the access to web has increased considerably and more and more customers are enjoying the option of buying online.
Further, the global supply chains being able to cost-effectively supply their merchandize worldwide. There is also improved customer awareness about global brands, making them want to purchase those goods. However, the discussion leads to a crucial question: has online shopping affected all retailers in the same manner? The answer given by the experts is emphatic, ‘ No’. The crucial factor for success in on-line market has been the quality and customer-friendly features of transactional web sites.
Doing business online has become economical with the development of products like StyleShoots, which enables the retailers to improve and update their websites very conveniently at a very nominal cost. The rich content of websites improves the customer experience and satisfaction and contributes to increased sale. Customer satisfaction is crucial when doing business online, since this is the key factor to bringing customers back to the website for more shopping.
Text: Divya Chawla, Image: Statista