Online retail is one of the marketing trends that most companies should seek to incorporate into their strategy. Gap Inc. realizes the importance of the online space in boosting the business activities by improving sales. However, there are several issues concerning this approach that corporations ought to understand and come up with the appropriate counteractions.
What issues stood out for you and why?
One current issue that stood out for me is the rise of Amazon and its undeniable impact on retail behavior. The influence of the company has been so massive that it has changed the purchasing habits of consumers. Customers will primarily visit Google and Amazon while searching for a product, with the latter showing increasing growth and more visitors (Machin, 2015). Gap Inc. sells apparel that can be easily found on Amazon, and this presents a considerable challenge.
How do you think these issues will affect doing business online in the future?
Amazon will change how business is done in the future. Their range of products includes virtually everything, and their knowledge of the customer patterns is unrivaled. Amazon does not have physical stores, and hence the high margins give them an upper hand in product pricing compared to brick and mortar stores like Gap Inc. (Ryan, 2016). Most consumers will shift their allegiance due to the higher range of products on offer.
What ideas do you have to combat these issues?
Retailers like Gap Inc. should jump aboard the Amazon bandwagon if they intend to get their products into the hands of consumers. Online retailing has caused a significant reduction in foot traffic at the department stores and malls, and hence the firm must adapt quickly (Ryan, 2016).
What are your thoughts about Online Retailing and the topics we covered throughout the course?
I think that online retailing is the future of shopping. The convenience and ease of access on offer make the shopping experience more enticing for a customer (Bowsher, 2018). The shopping habits of buyers are changing as people have become digitally disciplined. Shoppers are looking for product descriptions, possible substitutes, other consumer reviews, prices, and other details before buying a product. Firms that sell their products online cannot fail to recognize the impact of Amazon, and the best idea is to join the bandwagon to reach the customers.
Bowsher, E. (2018). Online retail sales continue to soar. Ft.com. Retrieved 16 March 2018, from https://www.ft.com/content/a8f5c780-f46d-11e7-a4c9-bbdefa4f210b
Machin, A. (2015). Three key challenges all online retailers should be ready for. Branded3. Retrieved 16 March 2018, from https://www.branded3.com/challenges-online-retailers/
Ryan, T. (2016). Should Gap sell on Amazon?. Retailwire.com. Retrieved 16 March 2018, from http://www.retailwire.com/discussion/should-gap-sell-on-amazon/
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