Innovation in Online Retail Industry

Running head: STRATEGIC MANAGEMENT
INNOVATION IN ONLINE RETAIL
INDUSTRY
NAME : NG YEA LING
STUDENT ID : 18423758
MODULE TITLE : STRATEGIC MANAGEMENT
MODULE CODE : BUS3005
LECTURER : MR. RAYMOND LOH
SUBMISSION DATE : 06 MAY 2019
TMC Academy, Singapore

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1STRATEGIC MANAGEMENT
The context of business environment has been evolving rapidly over the years, and
in this consistently evolving environment, the entire business organizations are
required to develop and implement more efficient business policies and marketing
strategies in order to maintain their sustainability quotient and stimulate their
growth prospects. Businesses have a great impact on the economic system of any
nation because they are the prime job provider for a country.
The advent of the concept of online business has brought revolutionary changes in
business landscapes all over the world. Online business has its own importance in
recent times like- it increase sales, improve rankings, increase the customer base,
best Customer service, simple platform for advertising and marketing. It is
significant to say that the online business is itself a revolutionary innovation for the
business world (Laudon and Traver 2016).
The online business industry should have a strong strategic plan to have big
opportunities for them and a plan that can work in this competitive environment,
various changes should be undertaken by these type of industry to hold the market
share of their respective business organization.
The competition level is huge as the industry is global as it serves the whole
world and the industry is serving with full customer satisfaction and the demand of
the industry is reaching in the peak.
Top 10 countries leading the online retail industry
Name Description
10)Brazil Sales: $16.28 billion, Top retailer: B2W Digital Inc.
9)Russia Sales: $17.47 billion, Top retailer: ulmart.ru
8)Canada Sales: $24.63 billion, Top retailer: Amazon

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2STRATEGIC MANAGEMENT
7)South
Korea
Sales: $33.11 billion, Top retailer: Couping
6)France Sales: $38.36 billion, Top retailer: Odigeo
5)Germany Sales: $63.38 billion, Top retailer: Amazon
4)Japan Sales: $70.83 billion, Top retailer: Rakuten
3)United
Kingdom
Sales: $82 billion, Top retailer: Amazon
2)United
States
Sales: $305.65 billion, Top retailer: Amazon
1)China Sales: $423.26 billion, Top retailer: Alibaba
Table 1: Top 10 countries leading the online retail industry
Source: (Trellis 2019)
The internal and external market environmental factors, have a significant
influence on the innovative initiation within the industry. Furthermore, the entire
business organization all over the world irrespective of from the developing
countries or the developed countries is feeling the prospects of the online business
and with the technological advancement try to make an entry within the online
market. Technology plays an important role in online business industry because it
changes the consumer and retailer relationship, faster delivery time and many
others. For an e-commerce industry technology is one the major factor for its
development.
The technological landscapes of a country are most important for the growth and
development of online business within a country. Moreover, as the online business