Therefore, the competitors try to face the challenges and build their image in the market and also gain trust of the customer. Providing Mode of Payment: The most important which online shopping site provide suitable and comfortable of mode of payment so that customer do not hesitate to buy the product and services from the particular website this way different sectors build up their marketing strategies . ADVANTAGES & DISADVANTAGES OF ONLINE RETAIL SECTOR 1. Price Comparison: customers have an advantage of comparing price of different products and service under one roof instead of going to different physical stores particularly. 2.
They target a certain type of customer and make sure to deliver exactly what matches their customer profile. This creates emotional attachments because the retailer is able to create a personal relationship with his customer. Retailing nowadays is no more just about transactions but it is also creating meaningful relationships with customers so that they stay loyal and connected to the retailer. When a customer is attached to a specific retailer, it becomes its favorite and do not get influenced by competitors. Being able to create a connection with customers allows retailers to create a desirable positioning.
One such characteristic is one-stop shopping. By avoiding the necessity to patronise multiple centres, it serves as an important time-saving strategy. Likewise, the immediacy of the centre to a large population will also serve as an important means of reducing travel time for the local population. Stretched trading hours offer two related sources of time convenience. The 1st is to provide consumers with greater elasticity as to when they decide to shop.
Consumers simply buy them regardless of different brands. If they keep choosing the same brand, it is a more common strong brand loyalty decision. In these situations, consumers do not pass through the usual sequence belief-attitude-behavior. Instead of passively learn about products for watch TV or read magazines. Consumers are buying based on brand awareness, marketers use repetition ad build brand familiarity brand rather than conviction.
In addition, Dunkin' Donuts offers a variety of of standardized products which limits the amount of product and service customization they have to do. Finally, by buying in bulk, bidding competitively over contracts, and working with vendors to keep inventories low, Dunkin' Donuts is able to keep a tight control over their supply chain. Having strong relationships with suppliers is a vital way to keep costs low.
While there is a lack of barcode scanners and computer linkages for small independent shops, Barilla can leverage on the brokers to pass on data direct to Barilla depots. Barilla can encourage them to sign up by promising that adopting JITD would lead to reduced holding inventory and better service to customers. Reduced holding inventory is a key attraction for small shops since the freed up space could be used to offer a greater variety of products. Furthermore, with Barilla responsible for tracking the stock level, the small shop owners which have limited resources to manage their inventory efficiently would be assured that they would never lose customers because they ran out of stock for
They assume that that reason belongs to one of the two main groups: functionality or emotionality. For example, people will shop online if it is more comfortable and convenient (functionality). Besides, if it provides any kind of additional entertainment value (emotionality). Using this theory we can assume that to attract customers to online shopping in fashion industry the retailers must ensure at least one of those reasons. Another group of authors, for example, Prasad and Aryasree (2009), tried to explain the matter of customers’ trust and how it affects their willingness and strong desire to shop online.
Consumers cannot physically check the quality of a product or monitor the safety and security of sending sensitive personal and financial information while shopping on the Internet (Lee und Turban 2001). As illustrated by (Egger 2006) sufficient trust needs to exist when placing an order online and when the customer submit his or her financial information and other personal data in undertaking financial transactions. On the same way some other studies have also discovered that when the customers feels more secure and free of risks then their desire of shopping online will constantly increase. Thus, perceived risk has a direct and negative influence on the loyalty toward the online shopping platform (Murray und Schlacter 1990). Trust and loyalty are the main important factors that determine the quality of online shopping sites and corresponding
With the rapid growth of products and brands, people have speculated that online shopping will overtake in-store shopping. While this has been the case in some areas, there is still demand for brick and mortar stores in market areas where the consumer feels more comfortable seeing and touching the product being bought. However, the availability of online shopping has produced a more educated consumer that can shop around with relative ease without having to spend a large amount of time. In exchange, online shopping has opened up doors to many small retailers that would never be in business if they had to incur the high cost of owning a brick and mortar store. At the end, there are agree and disagree statement for shopping
Differentiation is when a store provides a product or service that is so unique, the customer can’t find anywhere else to acquire that product or service. Last and definitely not the least is Personalization. Personalization is when you allow customers to customize their product, service, or web content according to the customer’s preferences. Consumers like differentiation and personalization and would love to pay more for them. When you sell a unique product to customers, there is a low chance for that product to have a substitute.