Shopping
Industry
The
increasing role that the internet plays in modern life
has changed the way we shop and given rise to new forms
of retailing. The internet enables the quick and efficient
transfer of information; this means that shoppers are
better informed about the prices and quality of goods
and services available for sale. Prices and a wide variety
of goods can be compared at the click of a button. It
has also brought about new forms of retailing. An example
of this is the Theory of Long Tail Marketing as practiced
by Amazon and other companies. In essence this is the
selling of a small amount of a very wide range of goods.
Retailers in the real world cannot do this because there
is not enough room in their shops to include all the
necessary stock. They have to pay rents on their premises
and can only afford to stock the most profitable items.
The internet has also increased the market for second
hand and used goods. Websites such as E-Bay have a huge
range of second hand products.
Shops in the real world struggle to compete against
online retailers because they have higher overheads
such as rent and staff and prices online generally tend
to be cheaper. However there will always be a place
for retailers in the real world although they will continue
to face stiff competition from online retailers.
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