E-business Applications (Retail Store): Future Trends and Analysis

This report delves into the realm of e-business applications within the retail sector, focusing on the evolving landscape of online and offline stores. It examines the impact of digital technologies, including mobile commerce, supply chain management, and internet marketing, on retail operations. The report analyzes the future of retail in Australia, highlighting challenges and opportunities presented by changing consumer behavior and the rise of e-commerce. It also explores how businesses like Bing Lee can leverage internet technologies to enhance their effectiveness, covering topics like social media strategies, data-driven decision-making, and the integration of brick-and-mortar stores with online platforms. The report concludes with a discussion of current retail trends and predictions, offering insights into the future of the industry. It emphasizes the importance of adapting to technological advancements and meeting evolving consumer expectations to ensure long-term success in the competitive retail market.

E-business Applications
(Retail Store)

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
1. The future of the retail store – what does online mean for bricks and mortar?......................1
2.Future of retail in Australia......................................................................................................2
3. Bing Lee Retail store can become more effective through the use of internet technologies. .3
4. Retail trend and prediction......................................................................................................4
CONCLUSION................................................................................................................................5
REFERENCES................................................................................................................................6

INTRODUCTION
E-business is defined as sharing of business information or commercial transaction
through internet. E-business includes technologies like mobile commerce, supply chain
management, electronic fund transfer, electronic data interchange, internet marketing etc. This
report will discuss about the Bing Lee which is the fastest growing organization and using digital
technology to expand the business all over the world. With the help of internet digital business
use ICT technology to enable external activities and relationships of business with individuals,
groups and other business. Introducing digital marketing helps stores constantly changing of
products and services and develop different kind of payment methods which can be intended as
commerce. In this report different current operation of Bing Lee target is described. Also,
includes the future of digital marketing in retail areas.
MAIN BODY
1. 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 and
changing patterns of consumer behaviour. Today, every one search a desired product, compare
prices, order and pay from internet paying system and receive the product at door step. This is
reason why traditional retail business based on brick and mortar stores need to update their
business models and introduce new technology to their business. Bing Lee firm uses modern
technology for increasing their business activities all over the world. Emerging technology with
business 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 keep
better tabs on their stock list to manage loss from theft and connect with shoppers. Advance
Technologies such as IoT, beacons, smartphones applications, POS system will allow retailers to
know 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 retail
store about to close and shifting away from in-store shopping towards digital marketing. These
techniques' emphasis challenges facing by retail stores: develop with technology such as
augmented reality, voice, IoT; improved offer strategies in stores; the evolution of brick and
mortar stores; importance of personalization on customer relationship management.

Consumer prefer to shop the product in physical stores because it has experience to
identify the product quality. Customer can touch and feel the product and directly interact with
the sales associate. Form teenagers to adults, all interact with physical store and prefer for many
stages for shopping process. For instance, 36% consumer shopping for online equipment and
electronic devices. There are various type of category available in marketplace. Bing Lee is
developed online brand and own application which help for customer to provide the different
product by online store. Online channel is the most significant part of every business to create
network and communicate with customer (Hahn and et.al., 2017). In this way, it also identifies
the need and requirement of consumers. The traditional store uses different strategy for building
an effective and efficient e-commerce. Traditional store required to improve their services and
product so many consumers purchased products. It also provides the store in different areas and
locations. On the other hand, traditional store require picking the effective sites for stores and
provide 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 the
demand of customer and provide new product by online. Online store provide discounts, voucher
for customer and it is marketing strategy to targeting the consumers. Physical store is useful
when 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 the
fastest growing organization to expand their business and also using online platform for
increasing their productivity and profitability (Kim and Peterson, 2017). Online Bing Lee
organization give many options to their customer which helpful for people to choose product
according to their need and requirement.
2.Future of retail in Australia
The retail industry in Australia facing many problems and disruption because there are
many small business enter in market and implement innovative idea for increasing productivity
and profitability in marketplace. Consumer has been change demand because development of
technology. Many customers attract towards the modern technology like online brands.
The future of Australian retail business require multiplicity and agility of delivery the
best platform which help for non-responsive retailers (Lu, Papagiannidis and Alamanos, 2018).

 The biggest challenges and issue facing in Australian retailer over 5 year because there
are many distractions occurs in business process that affect the enterprise operations and
functions.
 The management system of Bing Lee business need to be planning an effective strategy
which help for future development. It also useful for future growth and development
(McLean, Al-Nabhani and Wilson, 2018).
 The customer expectation and behaviour are change due to advancement of technology.
 Most of retailer business adopting latest and new technology that is helpful for increasing
the business operations and functions.
 After 2023, Australian retailer business expanding their branches all over the world.
 New retail business is successfully emerging the business in Australia and overseas.
3. Bing Lee Retail store can become more effective through the use of internet technologies
Bing Lee is German based global retail business to provide different type of product in
marketplace. This organization will use digital technology to provide the better product in low
price which is beneficial for customer (Patel and Pearce, 2018). In this way, it will increase
number of consumer because they provide online application to offer many schemes and
discounts. Digitalization provide solution in everyday business that contribute to move the
customer preferences.
The advantage of Bing Lee to increase their business in different areas and locations.
Global market is increasingly and having tough competition for retailer business consistently
maintain their brand image in marketplace (Peker, Kocyigit and Eren, P.E., 2017). 40% customer
willing to buy product directly to producer due to low rate. In this way, Bing Lee and other retail
business face pressure and problem form emerging the digitalization.
Advantage:
 Internet technology is the best platform of business process because it provides the
facility to customer willing to buy product by using mobile application.
 Bing Lee is a leading organization to provide product information’s on their application
so consumer check the details, price and quality of particular product.
 Bing Lee is planning strategy for increasing the business across the world so that internet
technology is plays important role for identifying the overall business performance.
 Online platform is reliable and user friendly for consumer.

4. Retail trend and prediction
Bing Lee retailer business setup social media strategies-Social media strategy is the best
platform for promoting the products in marketplace. For rising Facebook, twitter, Instagram
which help for posting update and photos of particular product. This application will change the
overall business process. Bing Lee business need to set up social media game and using social
networks for sharing the information and details (Poushneh, 2018).
More ever, data will drive retail decision-Data plays important role in retail business and
it is useful for decision-making especially used in technologies like machine learning and big
data etc. Bing Lee will keep exploring and collecting the data indifferent areas such as customer
service, sales, operations and marketing etc. Data driven is applicable in large retailer and
smaller business using sophisticated retail documentation (Retail technology trends and
prediction, 2018).
Brick and mortar stores continuously flourished- This is right concept when the
traditional stores are continuous decline and innovative store expanding their business all over
the world. Mobile applications or cloud based solution help for retailer business to set up shop
with minimum investment and budget. Advertising cost never low but the social media network
useful for promoting the product information’s effective manner (Viswanadham, 2018).
Healthy and friendly environment lifestyle will focus on consumers- Consumer mainly
focus on healthy product that is beneficial for health and body. Bing Lee launch an efficient
product and services in marketplace. Bing Lee organization planning strategies that is implement
in the business activities. In Australian retailer, there are the largest online business provide
natural beauty products and expanding brick and mortar (Zondag, Mueller and Ferrin, 2017).

CONCLUSION
As above report, it concludes that E- business is useful for every retailer to provide the
better quality of product and service to their customers. Online business help for sharing of
business information or commercial transaction through internet includes technologies like
mobile commerce, supply chain management, electronic fund transfer, electronic data
interchange, internet marketing etc. Further, this report discuss digitalization ICT technology to
enable external activities and relationships of business with individuals, groups. This assignment
also online application for promoting their product and services in marketplace.

REFERENCES
Books and Journals:
Ben-Daya, M., Hassini, E. and Bahroun, Z., 2017. Internet of things and supply chain
management: a literature review. International Journal of Production Research, pp.1-24.
Chaudhuri, S., 2018. Application of Web-Based Geographical Information System (GIS) in E-
Business. In Digital Marketing and Consumer Engagement: Concepts, Methodologies,
Tools, and Applications (pp. 649-665). IGI Global.
Hahn and et.al., 2017. E-service quality management of a hotel website: A scale and
implications for management. Journal of Hospitality Marketing & Management, 26(7),
pp.694-716.
Kim, Y. and Peterson, R.A., 2017. A Meta-analysis of Online Trust Relationships in E-
commerce. Journal of Interactive Marketing, 38, pp.44-54.
Lu, Y., Papagiannidis, S. and Alamanos, E., 2018. Internet of Things: A systematic review of the
business literature from the user and organisational perspectives. Technological
Forecasting and Social Change.
McLean, G., Al-Nabhani, K. and Wilson, A., 2018. Developing a Mobile Applications Customer
Experience Model (MACE)-Implications for Retailers. Journal of Business Research, 85,
pp.325-336.
Patel, P.C. and Pearce, J.A., 2018. The survival consequences of intellectual property for retail
ventures. Journal of Retailing and Consumer Services, 43, pp.77-84.
Peker, S., Kocyigit, A. and Eren, P.E., 2017. LRFMP model for customer segmentation in the
grocery retail industry: a case study. Marketing Intelligence & Planning, 35(4), pp.544-
559.
Poushneh, A., 2018. Augmented reality in retail: A trade-off between user's control of access to
personal information and augmentation quality. Journal of Retailing and Consumer
Services, 41, pp.169-176.
Viswanadham, N., 2018. Performance analysis and design of competitive business
models. International Journal of Production Research, 56(1-2), pp.983-999.
Zondag, M.M., Mueller, E.F. and Ferrin, B.G., 2017. The application of value nets in food
supply chains: A multiple case study. Scandinavian Journal of Management, 33(4),
pp.199-212.

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