Learning Outcomes:Understand the environment in which the online retail sector operates today.Explain how to analyze the economic viability of an online firm.Identify the challenges faced by the different types of online retailers.Describe the major features of the online service sector.Discuss the trends taking place in the online financial services industry.Describe the major trends in the online travel services industry today.Identify current trends in the online career services industry.Understand the business models of on-demand service companies.ReadingsChapter 11 E-commerce Retail and ServicesRecommended-Ecommerce Defined: Types, History, and Exampleshttps://www.investopedia.com/terms/e/ecommerce.aspVideo Case StudyWalmart Takes On Amazonhttps://www.youtube.com/watch?v=WxQXvmnfCawhttps://www.youtube.com/watch?v=gdkZRpyw_FYThink & DiscussTraditional retail in the United States, the kind you find at the malls, and urban department stores, is in trouble. The very large retailers such as Walmart, Macy’s, Kohls, Sears, and Nordstrom all have reported only about 1% to 2% sales growth since the recession of 2008. Over the last few years, Target, Macy’s, Sears, JCPenny, and others have closed hundreds of stores. Since 2000, consumers have been shifting away from traditional retail goods like apparel and electronics (the mainstays of retail stores), and buying more services like vacations, exercise, dining, and health care. The much bigger threat to traditional retail is coming from online retail, mostly Amazon, which has gobbled up the lion’s share of online retail and continues to grow at astounding rates. Apparel and electronics are also the most frequently purchased items for online retailers, so traditional retailers and the online giant all compete selling the same goods. Traditional retailers have spent more than $1 billion in the last decade trying to become online retailers and meeting consumers wherever they want to buy: online or at a physical store. It’s called an “omni-channel” strategy: using multiple channels like physical stores and the Web and mobile apps to sell products. Many traditional large retailers such as Walmart, Macy’s, and Costco, have wound up in the top ten online retail rankings. But so far, the omni-channel strategy has not been especially successful in keeping up with Amazon’s growth. In what promises to be the online battle of the decade, the two biggest players, the heavy weights, Walmart and Amazon, are going head-to-head for the consumer dollar. In a broader sense, it’s the online-business model versus the physical- department-store business model that was invented by Macy’s in 1870. But to be fair to the traditional retailers who have developed their online and mobile sales channel, it’s more accurate to say it’s the omni-channel model versus the pure-online digital model of Amazon. Walmart’s revenues for fiscal 2019 (ending January 31, 2019) were about $514 billion, the highest of any American company, and it had net income for the year of $6.67 billion. E-commerce revenues grew by 40% and reportedly totalled over $20 billion, lifting Walmart into the number 3 online retail spot behind Amazon and eBay. In 2016, Walmart bought start-up Jet.com, a small but fast-growing Amazon competitor, and since then it has invested billions on various digital initiatives. Those efforts have had a significant impact, boosting its e-commerce revenues, a trend that Walmart expects to continue. But Walmart’s online business still has a long way to go in challenging Amazon.Video Case Questions:Why did Walmart acquire Jet.com?How does Jet.com’s fulfilment process work?Is Walmart’s increase in market share coming at Amazon’s expense?How much did Walmart’s online sales increase in the fourth quarter of 2018? Was this increase a reflection of Walmart’s strength or instead a reflection of the overall consumer environment?What are some of the omni-channel efforts Walmart is employing?What competitive advantages does Walmart have vis-a-vis Amazon?Are the stock analysts in the second video positive or negative about Walmart’s long-term prospects? Test your knowledgeQ1: Local E-commerce refers to:Marketing and purchasing on social network site.Marketing and purchasing through traditionally.Marketing and purchasing on the location based site.Marketing and purchasing through offlineQ2: AliExpress’s Facebook page is the example of:Supply chain management systemSocial NetworkEnterprise systems managementCollaborative commerce Q3: Identify the examples of C2C types of E-Commerce.Haraj.comAmazonNoon.comAliExpressReferencesLaudon, K., & Traver, C. (2018). E-commerce: Business, technology, society. 2018. (14th). Upper Saddle River, NJ: Pearson Prentice Hall. ISBN: 978-1-292-25170-7
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