E-retailing: The Growth of Online Retaling

Online Retail / Electronic Trailing Electronic retail is a market for selling retail items over the internet. The abbreviation for "electronic retail" is basically a part of intercompany transactions. First, the structure of the online retail market is divided into a vertical focus and multiple classes. Mainly focused on specific items such as clothing, electronic products, baby goods, but in many categories including all kinds of goods, the main purpose of online retail is to provide customers with great discounts on products It is acquisition.

Retail 0 is the concept of Omni Channel Retail Experience. Consumers are accustomed to online shopping ideas due to the spread of Alibaba (China's major e-commerce market participants). Even so, the growth of e-commerce tends to stabilize. Online marketing is becoming increasingly expensive As new customers in the urban areas require more personalized store experience, new phenomena have emerged. Please imagine such a scene. Nancy just left her man. She went to Shanghai 's shopping mall to find the shirt I saw on the Internet yesterday. She likes to feel the material and size before buying clothes. She also saves some bonus points when she pays for clothes at the store using the WeChat app, and later she can eat at the same mall as she goes. She also shared her experience at a social media restaurant because she would earn more coupon rewards by doing so.

Which way is best for your customers, online or retail? Some people say that traditional retail routes are far superior because they account for over 90% of current retail expenditures. Other companies will point out a sharp increase in e-commerce. It is projected to exceed $ 3 trillion in 2014 and $ 4 trillion by 2020. However, the 2017 e-commerce was only 10% of the world's retail sales. This is $ 26 million and $ 26.8 trillion. So, is that really important? "Retailers play an increasingly important role in the Omni Channel strategy as a convenient venue for cross-channel distribution centers, petrol stations for online ordering, returns and exchanges, which also function as product showroom and brand Customer acquisition channels "

Despite the dramatic increase in online retail sales, Chinese consumers still prefer traditional face-to-face retailing experience. In the past few years, the online retail market in China has grown rapidly, but this growth only accelerates. According to Goldman Sachs report, the annual average growth rate of China's online retail market is expected to grow from $ 75 billion in 2016 to 1.7 trillion dollars in 2020, nearly the growth of China's offline retail market It is rate. Triple Nevertheless, purchasing experience in real stores is still the first choice for Chinese consumers. Surprisingly, online retail sales account for only 19% of China's total retail sales in 2016. While online retail sales are growing, the data shows that actual purchases will continue to be an important part of China's consumer experience.