Retailigence

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Posts Tagged ‘online shopping’

Scope of Online Clothing Store

Posted by retailigence on February 18, 2012

The basic need of human being is clothing. According to archaeologists and anthropologists, earliest clothing most likely included grass or leaves tied around the body. With the passage of time, clothing performed a range of cultural and social functions. It also functions as a form of adornment and an expression of personal taste, style and social status. However, the main function of clothing is to increase the comfort of the wearer.

Jockey Basic UndershirtAnother fundamental question is what is the need to wear underwear? The shape of the underwear largely determines how we look and what will look good on us. In addition to this, the body continuously keeps shedding skin cells. So it helps in keeping the clothes fresher and cleaner. Innovations in style and technology have made boxers, briefs and undershirts that were an afterthought into a buzz word category of men’s clothes.

The young people are more into online shopping. . All big clothing companies now come up with standard sizes and customers know the size of clothing which would fit them. The older generation had an inherent need to buy clothes only after feeling them. This is not the same with the present generation. So it makes better sense to have online clothing. In addition to this, a lot more options are available when shopping for clothes is done online. The customer gets a lot of information on the variety, pricing and quality of clothing which is available. The online transactions nowadays are more secure.

E-commerce these days is the buzz word in business. Nowadays, a lot of people prefer to visit the website of the company before actually visiting the store. In certain cases, the online store has successfully replaced the need to physically visit the store. Additionally, clothes and fashion accessories make up a substantial portion of all the gifts while are sent and received worldwide, and it naturally makes sense to have your presence online so that you can reach out to a larger market. The cost of having an online clothing store is considerably less and you also get to save on warehousing costs. This translates into lower prices and lower prices mean larger volumes. Larger volumes translate into a larger market share. Having an online clothing store means that your store is open at all hours so the customer can shop as per his convenience. This emphasizes on user friendliness.

The scope of online clothing stores just got wider. More men shop online for purchases and this is a segment which needs to be tapped. Online shopping is possible right from razors to underwear. With a larger portion of the population having access to the internet this gives an impetus to have online clothing store. All you need to decide is the kind of clothing that you will promote and optimize the site so that it shows up most frequently when someone searches under the given category of items

All in all, the circumstances of today encourage having an online clothing store. There is a vast market whose clothing needs haves to be addressed. Having an online clothing store is perhaps the most convenient way of reaching out to the target customers.

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Future Prospects of E-Commerce in India

Posted by retailigence on February 10, 2012

The real challenge to an average retailer in India is not from FDI, but from E-Commerce sites like flipkart.com, snapdeal.com, eazybuy.com, menzkart.com. The various growth drivers for e-commerce in India are busy lifestyles, increasing disposable income, lower prices available at online stores as they save on distribution and elimination of set up costs of physical entities. This in itself is sufficient to provide a push for online shopping. Another main factor encouraging e-commerce is that the people are now comfortable using credit cards on the internet. And mobile has truly come out to have multi functional benefits. It is now very easy to use mobile phone for activities other than casual talks and message forwarding. Electronic flow of information has increased manifold.

A few points which speak in favor of e-commerce are:

1. Marketing is very important and it is generally believed that online people are easier to target. The savings in marketing costs can be passed on and prices can be reduced.

2. Now it is actually possible to get a product at less than what the manufacturer is selling it for.

3. FDI will help improving the efficiency in supply chain.

4. FDI will also help in boosting the confidence levels of the customers in which foreign players will play an important role.

5. The industry is still in the growth phase so profit margins are still likely to be high. The B2C e commerce is likely to be the main engine driving growth in the immediate future.

6. Spontaneous activity has reduced considerably and consumers now try to make better use of the time spent online.

7. Facebook has touched nearly 45 million in India and we are still not talking of the mobile phone users.

8. Websites are starting to come up in local languages which will help increase the penetration level.

Jockey Fashion Trunk Online shopping is still in the growing stages and has still touched only a few sectors like automobiles, stocks and shares, real estate, travel and tourism, gifts, hobbies, matrimony and employment. Even some websites sells products like men underwear, lens etc. The reason for the numbers not being as large as the businesses wish it to be is the lack of certain key elements in the existing business models. So there is a scope of improvement in this area.

             The main reasons responsible for this sudden growth of e-commerce in India are the emergence of blogs as a means for the information dissemination, bigger web presence of SMEs and corporate because of low marketing and infrastructural costs, a safe and secure business environment due to improved fraud prevention technologies, and most importantly the youth finds online transactions to be easier.

            There is  no doubt that the cost of running an e commerce  is still high but with a billion and counting population which is slowing being hooked up to the e-commerce the growth potential is too significant to be easily ignored. The existing users count more than the users who have recently joined. India can become industrialized and modernized if it can extensively apply IT to enhance productivity and international competitiveness, develop eCommerce and e-governance applications.

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Retailing v/s E-tailing

Posted by retailigence on February 8, 2012

Retailing is the function when any firm provides a product or service to the customer. Delete the ‘R’ from retailing and you get e-tailing. To an observer this might sound like a casual game, but the fact is, e-tailing is serious business. The retail model is widely understood and practiced around the globe. Many people assume that the e-tailing model is just an extension of the retailing model; however nothing could be farther from the truth.

The first major difference is that when we talk of retailing we also know that the competition is known and well defined. Any related business which is in proximity or within the driving distance would be the natural competitor. This is not the case with e-tailing because when a shopper goes in for online shopping, the online store is forced to compete not just at the national level, but sometimes even at the global level. The human to human contact is negligible in e-tailing.

When we talk of retailing, one important factor which comes into play is that the retailer generally has a long term relationship with the customer and the retailer is well aware of the needs and wants of the customer. He is also aware of the wallet size and which products are preferred by the customer. He is in a position to provide better service to the customer. This personal contact is lacking in case of e-tailing. But this shortcoming is gradually being addressed as now the e-tailers look to maintain vast amounts of data about their actual and potential customers. This is one reason that online shopping is gradually picking up in developing countries.

Technology is of paramount importance to the success of e-tailing. It is the lifeline for the success of any e-tailing business. Continuous upgrading of technology is also important. One can find products like underwear, shoes, lens, bags, cosmetics etc on  e-tailing plateforms

 It also needs to be considered that the e-tailing businesses have lesser gestation periods. Physical infrastructure is not required. Setup costs are considerably less and wider markets become accessible. This is unimaginable with retailers.

 Shoppers have more control over the shopping experience in case of e-tailing as compared to retailing. The Internet provides all related information at the doorstep of the customer. With e-tailing, the option of price control just goes out of the window.

 It is a well documented fact that the most of the costs attached to a product are added after the process of production is over. And a significant portion of these costs is the marketing, selling and warehousing costs. These costs are significantly less in case of e-tailing, which in turn translates into better pricing.

 The speed and convenience of interaction is much more in case of e-tailing. And this often results in better sales volumes for the e-tailers.

The majority of the Indian population today is young ,disposable income is higher as compared to previous generations, both the partners are often working, lifestyle is more hectic, leaving lesser time for visiting the retail store. As people are more tech savvy nowadays, e-tailing is a made to order solution to address these challenges. Nearly all products from briefs to razors, from Gillette to Jockey products are available when the consumer goes in for online shopping. E-tailing is a step into the future.

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