SOCIAL In the past few years, new channels to market have come into existence which including e-commerce and m-commerce and have gained popularity rapidly. This has opened up new gateways for the retail sector in the face of the home delivery, and has resulted in the reduction of customer’s footfall. Advances in products themselves have driven change, such as digital downloads of entertainment media from books to computer games. Retailers with numerous stores over the UK perceive that they no more fundamentally need a physical vicinity in each high street so as to accomplish national coverage, and therefore some are reducing their physical presence. Other retailers are innovating their existing space to enable new services and new formats. They are either sharing the space with other service providers or amalgamating into joint ventures regarding the site usage. UK consumer base is demanding, with an emphasis being on convenience, experience and market segmentation. At the same time, lifestyles are also changing. With cyclic employment prevailing in the market and with many people working longer hours than before, has led to consumers demanding a greater choice of high quality goods and services which are convenient and economical. Furthermore, the UK is undergoing an enduring demographic shift towards an older population. The Office for National Statistics projects that by 2033 there will be around 20.5 million people over the age of 60 that accounts for nearly 29% of
The retail industry such as Men’s Wearhouse, Macy’s, Burlington, and Express operate websites and are part of a highly competitive industry. They contend with local, national, and global online retailers that bring comparable products and offer comparable services. Consumer opportunities in retail are shifting quickly with online retail stores, with an innovative future, which includes speed, convenience, and personalized mobile access. The change to e-commerce is pervasive to traditional retailers that must adjust their growth strategies, or risk a downturn in business. Whereas retail is ever expanding within e-commerce, retailers do offer different products and services in order to promote their
The fact that the American population is aging has raised concerns. In 2011, the number of adults over the age of 65 reached 41.4 million, which account for 13.3% of the population ("A Profile of Older Americans: 2012," 2012). It is estimated that there will be about 71 million older adults by 2030 ("Healthy Aging-Improving and Extending Quality of Life among Older Americans," 2009). Approximately 2.1 million elderly are currently living in
‘10 million people in the UK are over 65 years old. The latest projections are for 5½ million more elderly people in 20 years’ time
than it seems. Customers are more demanding when it comes to pricing and convenience today. If
The definition of E-Commerce or E-Tailing is replacing the traditional relationship of buying and selling in person or the phone with the use of the Internet, Smart Phones and networking. The more people that use the Internet regularly, the more Internet commerce increases. This causes a continual loop of improvements and innovations of which businesses must be aware. Most economists see e-commerce as a market segment that leads to intensive price competition and consumers armed with greater knowledge. E-commerce has changed business models globally, and allows customers to engage in the process of shopping either online or to a destination. Brick and mortar stores do have a conundrum do you want traffic into the store, or do you want the sale based on ease of shopping and/or convenience? (Eisingerich).
The UK is considered to have an ageing population (2013- 10 million over 65 in UK); some
Worldwide demographic change has resulted in an amplified elderly population. The United Nations predict a two fold increase to 22% by 2050 in the proportion of people aged 60 years and over. [1] Similarly it is estimated by 2034 a quarter of the UK population will be 65 years and over. [2] This
There are several effects and problems caused by the fact that the population of the UK appears to be growing older. Throughout this essay i will attempt to identify these numerous problems, which include the history and demography of the country, overview of the problem, causes and effects and eventually the solution. Then I will attempt to round the essay off with an effective conclusion which will identify the key body of my text and give a general consensus of what I have stated.
Within the UK and many other countries their have been an increase in emerging types of stores.
Retailers are able to track customer shopping data, which provides an important source of consumer research to which manufacturers have no direct access. (2) I am particularly interested in the grocery retail market as over the last two decades, the growing dominance of supermarkets has been a major theme in the nation’s life, seen in eating habits and shopping trends(3) Furthermore, the retail industry employs 2.77 million people in the UK and it is the UK’s largest private sector employer. It accounts for £325 billion sales and one-third of all consumer spending.(4) The graph below shows the percent of retail sales attributable to online in selected merchandise
According to Turban and King (2003), internet technology renders retailers an additional channel for branding, transactions and customer relationship management, the adaptation of which may drive down retailers’ transaction costs, and ensuring faster and higher quality of customer interactions, resulting in enlarging the existing markets and consumer base. M&S realizes this and have tried to sell clothing via high street stores as well as via internet though they have experienced cost cutting, rationalisation and management changes in order to revive their business in recent years. Internet technology might enable sustainable competitive advantage, but problems remain on how to physically organize their online retail operations.
* More savvy and demanding: as they have a lot of choices they turned to become more demanding because if a brand wont obey them another one will, so the customers know that they can get what they demand.
The groceries segment of India is one of the major components of the Indian retail market of which the groceries holds a whopping share of 60% as food is the basic requirement of all the people irrespective of their class. Online grocery shopping is one of the mega-trends which involves sale and purchase of groceries over the internet. The concept though conceived in the west is gaining lot of popularity in the emerging markets of India. Since the industry is growing at a tremendous pace it has attracted huge investments by venture capitalists and angel investors. The market has seen lot of emerging players of which Big Basket, Zopnow, Aaramshop and Local Banya leads from the front. These startups have been very successful because they currently are present in different cities and commanding leading sales. Although online grocery shopping is yet to catch up with the residents of many cities, yet all these e-commerce companies have started operating in many metro cities with an aim to change the way people do their grocery, veggie and staples shopping. Penetration of internet and the rise in the public's demand for convenience shopping among the population has
Buyers are increasingly price-sensitive and value conscious and are more likely to make purchasing decisions based upon perceived price\value.
Supermarket e-commerce stores that have altered business practice grow very fast. The popularity of online supermarket increases every year. Keynote’s study (as cited in Hand, Riley, Harris, Singh, and Rettie, 2009, p. 1205) explain that in 2006, the percentage of online supermarkets are higher approximately 35% than previous year. It could be that customers will shop online only in the future if the popularity of traditional stores go down. In addition, many supermarkets such as Walmart, Coles, and Giant are starting to build e-commerce. Online supermarket grow