E Commerce : A Market Scale

Being a multi-billion dollar retailer comes with its perks. JCPenney’s dominance over catalog merchandising has now extended into the cyber world at www.jcpenney.com. This website is multi-functional and easy to navigate, but how would JCPenney’s new e-commerce site stack up against its toughest competitor, Kohl’s, on the web? The answer may surprise you. This is an intriguing look at how varied retail comparisons can be. While JCPenney is struggling with sales on the retail floor, Kohl’s continues to exceed expectations in their stores. Online though, it is a completely different story.

My interest began to grow, and I started shopping online with Ebay and Amazon, trying to find prices under retail. After getting so many pieces of clothing from Nike and Jordan, I began to get tired of the style and decided to move on to another brand, and change my style completely. That brand was Ralph Lauren, which I now own a shirt in almost every color from them. I then decided it was time to move on from him as well. This is when I started to find more and more sites and apps dedicated to selling and buying designer clothing. “But it was the slew of second-hand clothing startups that launched at the end of the 2012 that really made a point in 2013. From digital clothing swap Bib and Tuck to online consignment store TheRealReal, there

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.

Life With Lex is a newly set-up retail establishment that will offer fashionable clothing for sale to women aging from eighteen to fifty years old. Life With Lex is a sole proprietorship small business that will be located in uptown Kingston, New York. The uptown area of Kingston is becoming an extremely popular shopping area for locals because of its hip, vintage feel. While my inceptive goal is to open one boutique in uptown Kingston, my extension plans include inherently franchising my boutique Life With Lex, and/or the premises I am located in, a highly-acknowledged brand name. In the future, I would truly hope to occupy a substantial portion of the online retail market.

Building a clothing brand from the ground up in the U.S. can be a daunting task for a mid-size entrepreneurial start-up. Given the competitive nature both domestically and internationally, every avenue for increased market share must be explored. The apparel industry in particular is constantly changing due to evolving fashion trends which is stimulated by social media. In order to keep pace, we must continuously offer innovative and unique products to help maintain and grow our existing business. In the event of failing to innovate and upgrade our products, sales will be adversely impacted and create excess inventory. As a result of this, clearance sales and widespread markdowns will help clear the inventory but will ultimately dilute the brand.

E-commerce is transactions conducted via electronic means such as the internet, email and SMS. It is considered to be one of the most important aspects of the internet to appear. As a result, people are able to exchange goods and services immediately regardless of their geographic location and time. More and more businesses conduct transactions on line, with some trading purely on-line thus reducing overheads and administrative costs.

According to MarketLine, the world online retail market expanded by almost 18% in 2010 and is predicted to reach close to $435 billion in sales. The market is expected to reach a 90% growth by 2015 and exceed $827 billion in sales. Listed in an article “Ecommerce Growth Statistics”, the average amount spent by each consumer is expected to rise from $1,207 per year to $1,738 per person by 2016. That is a significant increase. That shows that people prefer to shop online than going to the actual store in today’s society. Shoppers will spend on an average of $327 billion online shopping in 2016, which is about 45% from $226 billion in 2012. It is very evident that consumers will drive ecommerce into the future; especially e-retail. In just a few years, purchases online will be more profitable than ever, with others products and services available to purchase such as mobile and social allowing consumers to shop to their convenience. For retailers and

E-commerce is a product that has been available since the early 90’s. It is something that people are familiar with. A product that is now part and parcel of people’s lives.

Due to the fast development of the Internet and the growing popularity of online shopping, some argue that the online shopping will substitute store shopping ultimately. For some products such as books and tickets, that might be true, however, for product like apparel - a kind of high-risk and hedonistic product, it is not the case. This essay demonstrates why it is less possible for online apparel shopping to substitute store apparel shopping and how it serves as a complement for store apparel shopping. Finally, some implications on how to make the online apparel shopping more appealing are given.

The practice of waiting in line for an available changing room to try on new clothes might one day become a novelty rather than an unavoidable nuisance as apparel internet retailing enters a dynamic new era of growth. Over the 2005-2010 period, global online sales of clothing and footwear generated US$32 billion of incremental value, with

E- commerce, which is simply the system of transacting business through the use of electronic and digital media as the computer and mobile devices, has become not just a necessary but also an effective means of global economic development. The astronomical growth of interconnectivity through the computer network (I.e., internet) has made e-commerce a veritable tool for quick business relationships to be formed without any form of physical contact. At the click of the mouse, business transactions ranging from banking, shopping and all manner of trading are carried out by millions of internet users on a daily basis.

E-commerce is a process of buying and selling of goods and services on the internet through electronic transactions (Bartholome, 2002). These transactions occur either business-to-business, business-to-consumer, consumer-to-consumer or consumer-to-business. E-Commerce is swiftly growing throughout the years with the development in Internet and innovation. The gigantic development of virtual groups - individuals getting together in ad hoc groups online - guarantees to alter the balance of economic power from the producer to the customer. Recent advancements in the fields of Information Technology and Internet have led to exceptional renewed interest in electronic commerce. This report presents the compensations and concerns e-commerce industry would face in the next five years.

The e-commerce market was worth 1.471 trillion dollars worldwide in 2014 and in forecasted to increase by 20% in 2015 (Emarketer.com, 2015). Further, United Kingdom is rated No. 1 for online retail in the world and there is significant increase in demand every year (Ubmfuturecities.com, 2015) (See

Since clothing is a basic necessity and it can be sold in many creative ways, I’ve decided to make my product an online clothing store. I plan to sell my apparel online, because majority of sales in the twenty-first century are being done on an internet domain. According to Cira, the Canadian Internet Registry, by 2019 Canadians will spend approximately nine billion dollars on online commerce (Cira, 2016). I aim to sell wearables because according Cira, 42% of online purchases made in 2013 were clothing based (Cira, 2016). I plan on selling this for the target age of 18-34 because they are the the most fluent in e-commerce and they make up the majority of the online shopping market according to Business Insider (Smith,

E-commerce (electronic commerce or EC) is the buying and selling of goods and services, or the transmitting of funds or data, over an electronic network, primarily the Internet. These business transactions occur either business-to-business, business-to-consumer, consumer-to-consumer or consumer-to-business. The terms e-commerceand e-business are often used interchangeably. The term e-tail is also sometimes used in reference to transactional processes around online retail, (SearchCIO, 2015). In other words e-commerce is the buying and selling of goods and services online.