Visitors have accessed this post 347 times.
Introduction
The E-commerce practices of large retailers have changed drastically in recent years. A large retailer now can sell more products online than they could ever hope to showcase in their own brick and mortar store. Large retailers are taking advantage of the global economy by selling products from all over the world on eBay. This is not only beneficial for customers, but also for the retailers themselves.
Many Americans are now shopping online for their everyday needs. Large retail stores have also taken note of the trend, and many have even launched their own e-commerce platforms. This can be a powerful tool for both large retail chains and consumers because it gives customers the opportunity to shop from home without having to go out in inclement weather, saving time and gas money.
What is E-commerce?
E-commerce has been a significant part of the retail industry for many years now, and it continues to grow. In 2015, sales from this type of sales surpassed $1 trillion a year. E-commerce is a very important part of the growth that retailers saw in income from 2010 to 2012. These figures are continually growing to over $2.5 trillion worth of e-commerce sales in 2017 alone. How do these large retailers take advantage of e-commerce?
How has E-commerce changed the retail industry?
E-commerce is changing the retail industry in a big way, with large retailers like Amazon taking over the market. With more people doing their shopping online, physical stores are being shut down and jobs are being lost. Large retailers are also using E-commerce to merge with other types of industries to help them stay competitive, such as Tesla merging with Sears Automotive Centers.
Examples of large retailers with an e-commerce site
E-commerce has become a vital part of many large retailers’ business models. With the rise of e-commerce shoppers in recent years, many stores have begun to invest in an e-commerce site to sell their products.
Examples of large retailers with an online store
- Amazon
Amazon is one of the leading e-commerce companies in the world. This global business model has revolutionized the way consumers purchase products, and it continues to grow at an unprecedented rate. Even though Amazon is not technically a retailer, it still poses challenges for other large retailers like Wal-Mart, Target, and Home Depot because Amazon offers much cheaper prices on all its products.
The Online retail giant has been around for over two decades and has grown to dominate the market with its wide selection and fast shipping. They offer millions of products through their site including clothing, electronics, and even food and they’ve grown to encompass a grocery store. With all the products they sell, the company is always trying to make it easier for customers to purchase them with their unique one-click purchasing system.
- Macy’s
Macy’s, an American department store chain, is the latest retailer to have its e-commerce practices scrutinized by recent acquisitions of other retailers. The company is trying to maximize its online presence in order to compete with Amazon and other major competitors in the industry.
- Walmart
It is no surprise that Walmart is one of the leading retailers in the world. With over 11,000 locations in 28 countries, Walmart offers a large variety of products for reasonable prices. They have found success by keeping overhead low and selling products for less than their competitors.
A recent study done by the Retailers Association found that Walmart was outperforming other large retailers such as Amazon and J.C. Penney’s in terms of revenue per square foot. The study found that Walmart has seen a 5.5% increase in sales, and that has been occurring because customers are choosing to shop online.
- Home Depot
Home Depot is a large retailer that provides construction services and supplies. In 2018, Home Depot has seen an increase in its e-commerce commerce. This is due to the company’s dedication to improving its online experience for customers. Along with this growth, Home Depot has also seen an increase in competition with other retailers using the same method of increasing their online presence.
- eBay
On September 3, 1998, the website ebay.com was launched by Pierre Omidyan and his team. The site hosted auctions for collectibles, art, vintage goods, and other items. The items are bought through an auction process in which bidders place their bids to determine the price of the item. To be successful at bidding it is important to understand the market value of the item you are interested in buying or selling. It is no surprise that big brands such as Walmart, Target, and Amazon have taken over the e-commerce space. In 2019, most people will adopt a hybrid retail strategy, purchasing some items in physical stores and others online. While there are merits to both brick-and-mortar and e-commerce shopping experiences, these two models can also be combined to reduce costs for retailers and consumers alike.
What are the benefits of operating as an E-commerce
An E-commerce retailer can offer their customers a more convenient way to shop for products. They also have the ability to provide personalized customer service and support, which is not always possible in brick-and-mortar stores. It can be difficult to find employees who are knowledgeable about every product that the store carries.
Why would a large retailer want to open up brick and mortar locations?
Large retailers may want to open up brick and mortar locations for a number of reasons. For example, they may want to provide an experience that can’t be had online. They may also want to make it easier for customers to shop by providing more space for products, or they may want to offer in-store customer service.
Conclusion
It is evident that large retailers are making new efforts to adapt to changes in the e-commerce environment. They can be more efficient and responsive, and they can more effectively adapt their supply chain and distribution networks for a different customer experience. It is important that we all keep up with these changes as we continue enjoying the benefits of online shopping. Large retailers are making strides to better compete in an ever-changing e-commerce environment. Having a secure checkout process can help consumers feel more confident in their purchases while retailers should strive to provide quality customer service.