Speculating about causes: Why the rate of E-retail consumption is increasing in the last decade?
The world economy has been increasingly characterized by an increase in the volume of trade and an increase in consumption. People shop for different goods and services which are sold or retailed by different traders. With the coming of information and communication technology, trading activities have been greatly enhanced. E-commerce is slowly taking charge in trading activities and is expected to take full charge of trade in the near future (Rotem-Mindali and Salomon, pp. 177). This paper will thus discuss one aspect of e-commerce; e-retailing and development in the 2000 decade. The paper will discuss the cause of the emergence of e-retailing and the likely future trend in e-retailing.
E-retailing as a subset of e-commerce
According to (Rotem-Mindali and Salomon, pp. 176) e-retailing is one of the components of what is widely referred to as e-commerce. E-commerce has come with the advancement and adoption of information and communication technologies in commerce. E-commerce has received a lot of voice and support especially so from the beginning of the twenty first century. This is because of the advancement in information technology and the realization that information technology can greatly enhance business. Therefore, the advancement in information technology can be termed as the major cause of increase in in e-retailing. Information technology is the only base on which e-retailing can take place. The production and distribution of information technology product was very high in the 2000 decade with many IT companies being established. These communication technology gadgets are used in e-retailing. The question that should perhaps be asked here is whether the adoption of e-retail consumption is a consequence of information technology or whether it is important to the users (Dennis, pp. 199).
Reasons for the development of e-retail consumption
The use of the internet and the worldwide web has gained prominence from the late years of the 20th century to the beginning of the 21st century and up to date. With the development of the internet, most people have been finding it easy to conduct tasks and accomplish duties using internet as a communication tool. With more people conducting their communicative activities on the internet, is has been east to conduct trading activities electronically; using it tools that are connected to the internet. Online trading activities have been launched which speeds up trade. Online consumer communities have been formed encouraging e-retailing and consumption. These developments have happening at a highly accelerated pace. This trend is associated with what traders and consumers refer to as the increased efficiency and effectiveness in trading activities. These benefits have been enticing more people to start using e-retailing bringing about what is considered as a revolution in e-retailing. However, it has been discovered that not all people enter consumer networks objectively. Some of the people who have been adopting e-retailing have had ill motives causing fears amongst the genuine e-retail consumers. Therefore, they have exposed the weakness of e-retail consumption thereby hampering its growth. These fears have however had very little impact on e-retail consumption as statistics reveal that more consumers have been employing e-retailing practices (Qin, pp. 158).
Well, research reveals that most consumers are opting into e-retailing because of the many benefits that accrue to it. However, it is important to note that there are other consumers who do not prefer to do e-retailing because of the negative view of online retailing. This group of consumers is different from the group which does not use e-retailing because of inaccessibility to online retailing enabling tools or enablers. However, it could be also that this group of people is just adamant in the sense that they do not want to acquire the tools of communication because they do not see the essence of adopting e-retailing. In other words, they are contended with what is considered to the old form of retailing. In other words, this group derives more utility from the old system of retailing as compare to e-retailing homes (Adomavicius and Gupta, pp. 128).
Many consumers in the modern society opt to use the web to conduct online shopping or retailing because of the high level of convenience of online or e-retailing. Costs of retailing are significantly cut down when consumers use online retailing services as compared to when they use the brick-and-mortar system of retailing. Time and resources are greatly saved since retailers are not forced to out and source for goods or services. Consumers can shop and place order for goods at the comfort of their homes (Adomavicius and Gupta, pp. 128).
The other factor that has contributed to the growth of e-retail consumption is the propping up of many online retailing companies for example Amazon. These companies offer a wide range of services to customers. They advertise and offer goods at highly discounted prices which attract more consumers as more consumers are more budget conscious because of the harsh economy of the 21st century. Online companies also offer a range of goods and services increasing a range from which consumers can choose the products they want. Nonetheless, the same range of goods and services are also offered in brick-and-mortar retailing. In fact, the consumers get a real touch on products rather than just descriptions which are offered in e-retailing. Consumers can be easily deceived in e-retiling (Zentes and Morschett, pp. 78).
E-retail consumption has gained prominence in the modern business environment because of the overwhelming benefits of using the internet in trade enhancement. Reasons for increased e-retail consumption include availability of technologies and the presence of online retailing companies which give good offing to the consumers. Therefore, e-retailing is projected to continue gaining momentum as more people continue to access and use the internet and other information technology services.
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