Digital Landscape

Introduction:

In the present research study trends that are in the market in respect to online shopping are discussed in detail. Along with this, reasons due to which high street store will not extinct in a future time period is also explained. Varied business models that retailers follow like click, brick and mortar as well as click and brick are also explained in detail and their merits and demerits are discussed briefly. In the middle part of the report, the Omni channel phenomenon is explained in detail. Along with this, reasons due to which demand of the online travel apps elevate is also discussed briefly. At the end of the report, conclusion of the entire research study is given.

1. Does the growth in ‘online shopping’ mean the extinction of the typical ‘high street’ store?

With the passage of time period, it is observed that more and more people are making online purchases and due to this reason sales revenue of the firms following brick and mortar model decline. This is one of the major concerns for the business firms. Considering this fact, it cannot be assumed that in upcoming years offline stores will be completely shut down. The time comes when it becomes very important for the firms to know the main reason behind surge in sales revenue of the retail stores (Lee and Lee, 2015). The main reason is that in offline stores people see the limited variety of items and price is also high. Apart from this, in case of offline stores it can be seen that less number of offers are launched by the companies and shopkeepers. On the other hand, in case of online stores at cheaper price varied items are available and offers are also available by using which one can easily product of the same quality at a cheaper price from the online platform. It can be said that less availability of choice is the one of the major factor due to which now a day’s people prefer to make online purchases. Recession is another reason due to which people become more habitual of online shopping. During a recession, many people lose their job and families have low saving amount and due to this reason people spending capacity reduced substantially (Zhang and Wen, 2017). Hence, people prefer to do online shopping so that by using coupons and other options heavy amount of discount can be obtained on purchase on online platform. Value for money is another reason due to which people are making online purchases on specific amount and at a reasonable price they get better quality product.

On the basis of all these facts, it cannot be assumed that future of offline shopping is in the dark. If firms will make available a variety of products on the floor at a cheaper price then people will prefer to shop offline. Amazon has recently opened its first store in USA. The firm recognizes the fact all sorts of items people cannot buy either from online and offline platform. Some products people buy online and some buy offline. There are many people who are used to buy products offline and due to this reason Amazon decide to set up its office in USA (Natarajan, Balasubramanian and Kasilingam, 2017).

In the current time period all sorts of items from grocery to electronic items are sold online by the business firms. Second hand items are also available online. Those products that can be touched and feel are available online. Now a day’s service is also received online and forms can be submitted online. In current time period, it is also observed that people consumer behavior has also changed rapidly and now then is buying products online, but do detail inquiry about a product by visiting shops. Major limitation of online platform is that many people like to do a detail investigation before making purchases, but in online platform one cannot take an expert advice. Many individuals prefer to buy product online because when they make a purchase from shop in case of product defect, they can ask the shopkeeper to replace that with new one or provide after sales service (Fleisch, Weinberger and Wortmann, 2015). It can be said that there are a number of factors due to which people like to make purchases from the shop and due to this reason high street store will not extinct.

 

 

 

Conclusion:

On the basis of the above discussion, it is concluded that there is significant importance of click, brick and click as well as brick and mortar model at their own place. Considering consumer behavior in order to take full advantage of available opportunity business firms must operate on both online and brick and mortar model. By doing so they can fulfill the needs of all sorts of customers and generate a huge amount of revenue in the business.

 

Reference:

Books and Journals:

Balaji, M. S., and Roy, S. K. 2017. Value co-creation with Internet of things technology in the retail industry. Journal of Marketing Management. 33(1-2). 7-31.
Chan, H. C. 2015. Internet of things business models. Journal of Service Science and Management. 8(04). 552.
Fleisch, E., Weinberger, M., and Wortmann, F. 2015. Business models and the internet of things. In Interoperability and Open-Source Solutions for the Internet of Things (pp. 6-10). Springer, Cham.
Hacklin, F., Björkdahl, J., and Wallin, M. W. 2018. Strategies for business model innovation: How firms reel in migrating value. Long range planning. 51(1). 82-110.
Hajli, N. 2015. Social commerce constructs and consumer’s intention to buy. International Journal of Information Management. 35(2). 183-191.
Hashem, I. A. T. and et.al., 2016. The role of big data in smart city. International Journal of Information Management. 36(5). 748-758.
Laudien, S. M., and Daxböck, B. 2016. The influence of the industrial internet of things on business model design: A qualitative-empirical analysis. International Journal of Innovation Management. 20(08). 1640014.
Lee, I., and Lee, K. 2015. The Internet of Things (IoT): Applications, investments, and challenges for enterprises. Business Horizons. 58(4). 431-440.
Martins, L. L., Rindova, V. P., and Greenbaum, B. E. 2015. Unlocking the hidden value of concepts: A cognitive approach to business model innovation. Strategic Entrepreneurship Journal. 9(1). 99-117.
Natarajan, T., Balasubramanian, S. A., and Kasilingam, D. L. 2017. Understanding the intention to use mobile shopping applications and its influence on price sensitivity. Journal of Retailing and Consumer Services. 37. 8-22.
Razzaq, M. A. and et.al., 2017. Security issues in the Internet of Things (IoT): a comprehensive study. International Journal of Advanced Computer Science and Applications (IJACSA). 8(6). 383-388.
Zhang, Y. and Wen, J. 2017. The IoT electric business model: Using blockchain technology for the internet of things. Peer-to-Peer Networking and Applications. 10(4). 983-994.
Online
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