Analysis of Retail Store Future: Novo Shoes and Online Trends

This report examines the challenges and opportunities facing retail stores in the age of e-commerce, with a specific focus on the case of Novo Shoes in Australia. The introduction highlights the shift towards online shopping and its impact on traditional retail. Task 1 analyzes the decline in sales for Novo Shoes due to increased online competition and the rise of e-commerce. The report discusses strategies for Novo Shoes to adapt, including embracing online marketing and maintaining a physical presence. It references various sources to support its claims, concluding that while retail stores face challenges, companies like Novo Shoes can leverage online platforms to regain market share by adopting effective business strategies. The report emphasizes the importance of understanding market trends and utilizing modern promotional techniques alongside traditional methods to succeed in the evolving retail landscape.

The Future of Retail Stores

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................1
TASK...............................................................................................................................................1
Online mean for Novo Shoes.................................................................................................1
CONCLUSION................................................................................................................................2
REFERENCES ...............................................................................................................................3

INTRODUCTION
Retail store future is at the stake when the online or digital shopping have increased in the
present era of digitization. NETSCAPE owner Andereessen made this statement “Retail is dead”
which fall into deep controversy (Jones, 2013). The future of stores shopping have come to an
end as people now prefer internet purchase more than store purchase. In this report, the study of
Novo shoes future as well as The mean of online for cited organisation is being studied.
TASK
Online mean for Novo Shoes
The future of popular retail brands like Novo shoes is drowning. The market is utilizing
e- commerce technique for the sales and promotional activities. Internet marketing emerged in
the Australia from past few year (Yaeli and et. al., 2014). People like to make purchase decisions
online rather than visiting retails as it is more convenient and comfortable. The population of
respected country is only 25 million and its is increasing furiously. This the the doom of samll
merchandising companies from which various small retailers have been closed till now which
number have increased to 22.
The online sales have increased 25% in Australia from year of 2013, most retail stores
had to face failure in market despite of of development. The local companies including Novo
shoes is facing more stress after the establishment of British organizations like Amazon(Online
website or app), Rhodes & Beckett, Herringbone etc. that is rendering products through internet
shopping facilities. The companies are losing its consumer as they are more inclined toward
online purchase. Including Novo shoes more than 400 retailers are facing strong challenge and
competitions to sustain and grow in industry. The profit rates are decreasing everyday in which
department stores sales deceased 2.8%, apparels and accessories fallen 0.7% and retailing store
fall 2.7% aggregate.
Understanding market situation and significance of internet marketing,Nova shoe is now
tending to the online purchase method like Brick and Motar which have gained estimated profits
that was raised approx. 7.3 % (Anand, 2015). In last few months the sales in online shopping is
increased more aggressively which is 0.8% in last few months.
According to Doug Stephen, CEO of retail prophet claimed that may be the consumer are
more inclining toward the online purchasing but what retail outlets provide them can not get
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from online shopping. This is the familiarity with the brand and enjoying of being served by
them, that experience can only feel by being part of their aura that the company create. Novo
shoes is on of fall of business but through online shopping facilities they can increase their sales
on gaining (Retail pressures unlikely to ease in new year: experts, 2016). This is essential for the
company to adopt the tool of e-commerce to sustain and evolve in industry but they can keep
providing shoes in stores as well as render facility of online topping to emerge (Sorensen, 2016).
They can convert their decrease in sales in increment by using internal as the tool of marketing.
All they require is effective business strategies.
CONCLUSION
It can be concluded that E- commerce has provided industry a new platform where they
can deal or promote their products and services online to grab the attention of customers at a
large scale. It is doom of retail stores in Australian merchandising company but Nova shoes can
emerge again in market using internet marketing techniques properly. All it require is to adopt
modern promotional and marketing techniques along with traditional style.
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REFERENCES
Books and Journals
Anand, S., 2015. Mystery Shopping: A Marvelous Tool in the Hands of Organized Retailers.
International Journal of Management, Innovation & Entrepreneurial Research. 1(1).
pp.18-21.
Jones, G., 2013. Clickology: What Works in Online Shopping and How Your Business Can Use
Consumer Psychology to Succeed. Nicholas Brealey Publishing.
Sorensen, H., 2016. Inside the mind of the shopper: The science of retailing. FT Press.
Yaeli, A., and et. al., 2014. Understanding customer behavior using indoor location analysis and
visualization. IBM Journal of Research and Development. 58(5/6). pp.3-1.
Online
Retail pressures unlikely to ease in New Year: experts. 2016. [Online]. Available through:
<http://www.stuff.co.nz/business/industries/87715948/Retail-pressures-unlikely-to-ease-
in-new-year-experts>. [Accessed on 23rd September 2017].
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