Topic > E-Retailing - 1405

E-retailing strategyWhy an e-retailing strategy?Evaluate the feasibility of an online retail format. It provides a relatively low-cost alternative channel to retailers keeping in mind their overall branding and retail strategy. For whom? • Retailers looking to increase sales by selling online • Online retailers planning to improve various aspects of their retail offerings • Entrepreneurs venturing into online retail formatsHow?Why integrated retail?Retail integrated combines several strengths:• Retail IT solutions for retail chains in all verticals such as: specialty, hypermarket, department stores, supermarkets, food service and kiosk retail• A customer base of over 100 retail companies across Asia, in retail automation solutions • Dedicated, multilingual, 24/7 help desk to support customers of retail solutions companies in the United States United• Consultants engaged by leading IT systems integration companies to evaluate business needs of multi-billion dollar, multi-national, multi-format retail companiesConsultants who are thought leaders in cutting-edge retail applications such as RFID, biometrics, VICS CPFR, GDSN etc.IntroductionE-Retailing: Internet retailing or �e-retailing� as it is usually referred to as it involves retailing using a variety of different technologies or media. This could generally be a combination of two elements.� Combining new technologies with elements of traditional store and direct mail models� Using new technologies to replace elements of in-store or direct mail retail. Selling Internet retail also has some elements in common with direct mail retail. For example, email messages can replace postal mail and telephone messages, which are used in the direct mail model as a means of providing information, communications and transactions, while online catalogs can replace printed catalogs. As with direct mail businesses, critical success factors include:� Use of customer databases� Ease of ordering� Fast deliveryThe operational elements that the Internet retail model shares with both the retail store which with direct mailing models include:� Customer invoicing� Relationships with suppliersThere are therefore many elements that Internet retailing and more traditional retailing models have in common. In fact, many of the most successful Internet retailers have been those who have been able to successfully transition critical elements from traditional retail to the Internet, such as customer service and product display. The Four Challenges of E � Retailing Every online fulfillment operation, large or small, faces four main challenges: Controlling customer data As outsourcing arrangements proliferate and delivery services become increasingly more adept at using information technology, retailers risk losing control of consumer data. This knowledge, ranging from customers' socioeconomic status to their purchasing patterns and preferences, helps brokers and shippers reduce costs, but they can also use it to compete with retailers.