E Business Application for Globalization - myassignmenthelp.com

Question: Discuss about theE Business Application for Globalization. Answer: Introduction In this era of globalization, the e-commerce industry is growing rapidly and it is trying to change the retail landscape. The physical stores are struggling to compete with the online stores. The customers are using various innovative technologies such as mobile phones to compare the prices and thus look up for specific product information. The traditional retailers are selling their products through bricks and mortar stores. The physical stores are no longer regarded as stores; they can be regarded as distribution points. The customers can visit the retail stores, take a look of the products and they can order or purchase the products through online mode and thus this has eroded the profitability of bricks and mortar store (Bates 2016). Findings It has been found from the case study that the future of retail business depends largely on online stores. Dough argues that the rapid growth of technologies has made it easier for the people to shop online. Mobile is regarded as the main accelerant for this change. In the recent years, the demand of the customers has drastically changed and thus it is forcing the retail industry to change accordingly. In this digital age, the retailers are trying to display more samples of their products so that the customers can purchase them through online mode. To fulfill the needs of the customers, the retailers have to take a store front and also an online presence which will help them to select the product (Rubino 2014). Dough also mentioned that the purchase and distribution of the products is increasing through online channels. The future of the retail store is considered as a debate. The retailer has to find out a perfect balance between online and bricks and mortar stores. In the physical stores, there is loyalty in the stores and if the customers have a very good experience, they will refer their friends and family. The online stores are trying to organize pop-up-shop which will help them in face-to-face customer interaction. This will help them in retaining their customers and they can capture the entire market easily (Herring, Wachinger and Wigley 2014). It has also been found that online shopping is a convenient for the customers and it is less time consuming. However, critics also argue that shopping also requires social interaction and this in turn plays an important in customer satisfaction. Dough has also cited various examples how the advertisements and campaigns outside the retail stores has attracted the customers (Yeung and Ang 2016). Conclusion Thus, it can be said that the physical stores has to struggle hard in order to compare with the online market. The customers must be provided with some special facilities and discounts which will attract them to visit the stores rather than shopping online. Moreover, online shopping also involves high amount of risk and there are high security breaches. The retailers are facing an impossible battle and thus they are trying to find out innovative and new means to retain the customers in their stores. Reference List Bates, B., 2016. E-commerces Impact on Big-Box Retailers. Herring, L., Wachinger, T. and Wigley, C., 2014. Making stores matter in a multichannel world.Perspectives on retail and consumer goods, (3), pp.4-12. Rubino, J., 2014. Bricks and clicks.CFA Institute Magazine,25(4), pp.30-32. Yeung, G. and Ang, K.L., 2016. Online Fashion Retailing and Retail Geography: The Blogshop Phenomenon in Singapore.Tijdschrift voor economische en sociale geografie,107(1), pp.81-99.