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Taking Wal Mart Global (Doc)

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Added on  2020-03-28

Taking Wal Mart Global (Doc)

   Added on 2020-03-28

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ContentsIntroduction...........................................................................................................................................2Current Operation.................................................................................................................................2Discussion on the key points.................................................................................................................2How it can be more effective with Internet technology........................................................................3Recommendation..................................................................................................................................3Conclusion.............................................................................................................................................3References.............................................................................................................................................4
Taking Wal Mart Global (Doc)_2
IntroductionWith the advent of ecommerce, the future of retail markets looks bleak. Though shopping hasbecome a human need, transforming into a form of social ritual over the years, with the increase ofonline shopping, it has been observed that when compared to the marked increase of profits in theonline market, the retail market falls heavily short and lags behind to a point that threatens itsexistence. This has led to the introduction of ecommerce schemes in many major retail chains,including Wal-Mart (Wolk and Skiera, 2009). The term ‘pure retail is dead’ is slowly arising in theminds of the experts and the statistics are clearly pointing towards this devastating future of retailmarkets.Current OperationAccording to Kasiri and Ericson (2016), Currently, Wal-Mart, the giant of the retailing market, hasbegun to make its mark in the ecommerce market since 2011. It is estimated that the growth of salesin the ecommerce market will reach $22.049 trillion, a 6% growth from the previous year and that ifthe rates continues, the ecommerce sales will top $27 trillion in 2020. However since theintroduction of ecommerce in Wal-Mart, the company has underperformed online. Despite having alarger sale base than most ecommerce companies, Amazon.com, an ecommerce giant, saw anincrease of 27% in its retail sales in North America and 24% internationally, while Wal-Martcontinues to have a slow increase of 15% year after year (Weltevrenden and Boschma, 2008). Discussion on the key points The difference in retail market and ecommerce has been estimated in the different mindset that theconsumers go through during a transaction process (Kumar, 2016). Ecommerce markets provideconvenience and competitive along with the theme of availability by providing anything we want,wherever we want and whenever we want. On the other hand, retail markets focuses on providingan ‘experience’ to the consumer, that makes it beneficial for them to test a product, socialize in themarketplace, and create a social marketing platform to lead to a sale (Zhou, Dai & Zhang, 2007). Thisis the reason why it is still seen that many new releases, consumers tend to appear in the retailmarket, socialize and purchase without resorting to a much more convenient ecommerce market.
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