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E-Business Applications - PDF

Added on - 09 Dec 2020

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E-business Applications(Retail Store)
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1MAIN BODY...................................................................................................................................11. The future of the retail store – what does online mean for bricks and mortar?......................12.Future of retail in Australia......................................................................................................23. Bing Lee Retail store can become more effective through the use of internet technologies..34. Retail trend and prediction......................................................................................................4CONCLUSION................................................................................................................................5REFERENCES................................................................................................................................6
INTRODUCTIONE-business is defined as sharing of business information or commercial transactionthrough internet. E-business includes technologies like mobile commerce, supply chainmanagement, electronic fund transfer, electronic data interchange, internet marketing etc. Thisreport will discuss about the Bing Lee which is the fastest growing organization and using digitaltechnology to expand the business all over the world. With the help of internet digital businessuse ICT technology to enable external activities and relationships of business with individuals,groups and other business. Introducing digital marketing helps stores constantly changing ofproducts and services and develop different kind of payment methods which can be intended ascommerce. In this report different current operation of Bing Lee target is described. Also,includes the future of digital marketing in retailareas.MAIN BODY1. The future of the retail store – what does online mean for bricks and mortar?As per the changing of technology in retail world helps to develop business strategies andchanging patterns of consumer behaviour. Today, every one search a desired product, compareprices, order and pay from internet paying system and receive the product at door step. This isreason why traditional retail business based on brick and mortar stores need to update theirbusiness models and introduce new technology to their business. Bing Lee firm uses moderntechnology for increasing their business activities all over the world. Emerging technology withbusiness gives a tough competition in market such as IKEA introduce their app IKEA's Place,which only need to scan the room using phone and select the required product (Ben-Daya,Hassini and Bahroun, 2017).In upcoming years retailers have to explore the use of IoT for better business and keepbetter tabs on their stock list to manage loss from theft and connect with shoppers. AdvanceTechnologies such as IoT, beacons, smartphones applications, POS system will allow retailers toknow more about customer’s experiences. E-commerce affects all prospect of retail life, i.e.experiencing particularly serve turbulence at moment (Chaudhuri, 2018). Due to this many retailstore about to close and shifting away from in-store shopping towards digital marketing. Thesetechniques' emphasis challenges facing by retail stores: develop with technology such asaugmented reality, voice, IoT; improved offer strategies in stores; the evolution of brick andmortar stores; importance of personalization on customer relationship management.
Consumer prefer to shop the product in physical stores because it has experience toidentify the product quality. Customer can touch and feel the product and directly interact withthe sales associate. Form teenagers to adults, all interact with physical store and prefer for manystages for shopping process. For instance, 36% consumer shopping for online equipment andelectronic devices. There are various type of category available in marketplace. Bing Lee isdeveloped online brand and own application which help for customer to provide the differentproduct by online store. Online channel is the most significant part of every business to createnetwork and communicate with customer(Hahn and et.al., 2017). Inthis way, it also identifiesthe need and requirement of consumers. The traditional store uses different strategy for buildingan effective and efficient e-commerce. Traditional store required to improve their services andproduct so many consumers purchased products. It also provides the store in different areas andlocations. On the other hand, traditional store require picking the effective sites for stores andprovide services according to requirement of consumers.Bricks and mortar stores uses sale but they also creating value in online sales. In this way,it can identify that the value of store is greater than sales. Store need to be discovered thedemand of customer and provide new product by online. Online store provide discounts, voucherfor customer and it is marketing strategy to targeting the consumers. Physical store is usefulwhen the customer want to check the quality by touch and identifying their materials etc.Nowadays, information technology exploring their business across the world. Bing Lee is thefastest growing organization to expand their business and also using online platform forincreasing their productivity and profitability (Kim and Peterson, 2017). Online Bing Leeorganization give many options to their customer which helpful for people to choose productaccording to their need and requirement.2.Future of retail in AustraliaThe retail industry in Australia facing many problems and disruption because there aremany small business enter in market and implement innovative idea for increasing productivityand profitability in marketplace. Consumer has been change demand because development oftechnology. Many customers attract towards the modern technology like online brands.The future of Australian retail business require multiplicity and agility of delivery thebest platform which help for non-responsive retailers (Lu, Papagiannidis and Alamanos, 2018).
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