Emergence of E-Retail
PAPER TITLE: EMERGENCE OF E-RETAIL
INTRODUCTION: The importance of the Internet as a marketplace has substantially grown over the past decade, even though expectations have been dramatically
tempered since early 2000. A distinctive feature of doing business electronically is that transactions no longer require the physical coordination of buyers and sellers: market participants find each other at their screens. There are many aspects of
market interaction which are affected by this online nature of trade. On the supply side, we may think of all kinds of cost reductions, resulting from new ways of organizing production and sales processes. On the demand side, the major impact of the Internet is on consumers’ ability to acquire information about firms and their prices.
E-R ETAILING : E -Retailing or E -tailing is the selling of retail goods on the Internet. It means buying items from a retailer’s website. Traditional retailers are quickly becoming the dominant online retailers because they are the best positioned to master the economics of online retailing and capture growing consumer demand.
"Online retailing is entering a new phase in its evolution," says Michael Silverstein, Senior Vice President and Global Leader of BCG ( Bosto n Consulting Group ) . What was once an industry characterized by entrepreneurial dot -coms, targeting the discretionary spending of the Internet -savvy consumer, is fast becoming the domain of traditional retailers, selling both necessities and discretionary items to the broader population.
H ISTORY : The term "electronic retailing," was used in Internet discussions from 1995. It had began to work for some major corporations and smaller entrepreners u from 1997 when Dell Computer reported multimillion dollar orders taken at its
Website. The success of Amazon.com hastened the arrival of Barnes and Noble's e-tail site. Concerns about secure order taking receded. 1997 was also the year in which Auto-by-Tel reported
INTRODUCTION: The importance of the Internet as a marketplace has substantially grown over the past decade, even though expectations have been dramatically
tempered since early 2000. A distinctive feature of doing business electronically is that transactions no longer require the physical coordination of buyers and sellers: market participants find each other at their screens. There are many aspects of
market interaction which are affected by this online nature of trade. On the supply side, we may think of all kinds of cost reductions, resulting from new ways of organizing production and sales processes. On the demand side, the major impact of the Internet is on consumers’ ability to acquire information about firms and their prices.
E-R ETAILING : E -Retailing or E -tailing is the selling of retail goods on the Internet. It means buying items from a retailer’s website. Traditional retailers are quickly becoming the dominant online retailers because they are the best positioned to master the economics of online retailing and capture growing consumer demand.
"Online retailing is entering a new phase in its evolution," says Michael Silverstein, Senior Vice President and Global Leader of BCG ( Bosto n Consulting Group ) . What was once an industry characterized by entrepreneurial dot -coms, targeting the discretionary spending of the Internet -savvy consumer, is fast becoming the domain of traditional retailers, selling both necessities and discretionary items to the broader population.
H ISTORY : The term "electronic retailing," was used in Internet discussions from 1995. It had began to work for some major corporations and smaller entrepreners u from 1997 when Dell Computer reported multimillion dollar orders taken at its
Website. The success of Amazon.com hastened the arrival of Barnes and Noble's e-tail site. Concerns about secure order taking receded. 1997 was also the year in which Auto-by-Tel reported