rwt task 1
Advantages and
Disadvantages of Entering
Online Retail
Introduction
•
•
•
This research business report was compiled at the request of Management to review the advantages and disadvantages of entering the online retail business.
How many times have you remembered you needed an item, but the store was closed? The web offers a place where consumers can locate the best price and deal
(Shannon, K., 2010).
Impact of Online Sales to the
Company
•
•
•
Online retail sales will grow over 10% a year for the next five years, accounting for
53% of all U.S. retail sales by 2014
(Shannon, K., 2010).
Online purchases continue to grow as market share can be gained from our competitors (Altman, W., 2006)
Selling online allows our company to display merchandise to any part of the world expanding our global market share.
Recommendation
•
•
•
Entering into an online retail sales company is the most cost effective way for us to boost sales.
This has been a request of customers for years through customer surveys.
This move will allow our company to capture additional revenue we are missing by not entering this market.
Requirements for a Successful
Marketing Campaign
•
•
•
Advertising on Search Engines such as
Google or Yahoo will enhance customer visits to our website, allowing an increase in purchases.
Advertising will be geared toward target market. The retail website will be geared to offer complimentary items to browsers increasing their purchasing power.
Recommendation
•
•
•
•
The basis for our companies retail website can be based from the current website.
Picture and product descriptions are currently available in soft copy as these items are used in our current catalog.
Our top selling products should be listed on comparison websites.
Store Kiosks will be available to consumers for ordering items not located
Disadvantages of Online
Retailing
•
•
•
Disadvantages of Entering
Online Retail
Introduction
•
•
•
This research business report was compiled at the request of Management to review the advantages and disadvantages of entering the online retail business.
How many times have you remembered you needed an item, but the store was closed? The web offers a place where consumers can locate the best price and deal
(Shannon, K., 2010).
Impact of Online Sales to the
Company
•
•
•
Online retail sales will grow over 10% a year for the next five years, accounting for
53% of all U.S. retail sales by 2014
(Shannon, K., 2010).
Online purchases continue to grow as market share can be gained from our competitors (Altman, W., 2006)
Selling online allows our company to display merchandise to any part of the world expanding our global market share.
Recommendation
•
•
•
Entering into an online retail sales company is the most cost effective way for us to boost sales.
This has been a request of customers for years through customer surveys.
This move will allow our company to capture additional revenue we are missing by not entering this market.
Requirements for a Successful
Marketing Campaign
•
•
•
Advertising on Search Engines such as
Google or Yahoo will enhance customer visits to our website, allowing an increase in purchases.
Advertising will be geared toward target market. The retail website will be geared to offer complimentary items to browsers increasing their purchasing power.
Recommendation
•
•
•
•
The basis for our companies retail website can be based from the current website.
Picture and product descriptions are currently available in soft copy as these items are used in our current catalog.
Our top selling products should be listed on comparison websites.
Store Kiosks will be available to consumers for ordering items not located
Disadvantages of Online
Retailing
•
•
•
References: (2010). Retrieved from: http://ezinearticles.com/?Online-Retailing---A-C Shannon, Kerri. (2010) Online Sales