Issues and Challenges Facing Retailing Article Example | Topics and Well Written Essays - 3000 words

Issues and Challenges Facing Retailing - Article ExampleIn order to p arnt the effectiveness of digital retail, the key factors that urinate to be considered by the retailers atomic number 18 availability of the latest products and services, impartation facilities for quick delivery and order fulfilment, easy payment mechanism, efficient logistics and distribution framework and cost-effectiveness. Contents wind 2 Introduction to retailing 4 Literature Review 5 Online retailing is the latest foreshorten 6 Key drivers of online retail industry 6 Discussion 9 Limited potential for development 9 High cost of delivery 10 Selection setting trade-offs 11 Intense argument 11 Environmental impact of online retailing 12 Conclusion 12 References 14 Introduction to retailing In the consumer goods industry, retail has been playing a primary role in enhancing the productivity of the key players across the world. This retail sector has been expanding at an accelerating pace because the con sumers argon looking for contraption in the shopping arena. The import of this industry is evident in the contribution made in the economies of UK, Mexico, USA, China, Dubai, Sri Lanka, Malaysia and Thailand all of these countries have seen robust offset in their GDPs (Bell, Choi & Lodish, 2012). Some giant retail stores like Wal-Mart, Tesco, Kmart, Carrefour, Sainsburys and others have turn backd that they provide the complete range of employment benefits to their personnel so that they kindle have an adequate standard of living while run into all of their basic and mandatory requirements. Since 1990s, Internet has revolutionised the way in which organisations carry out their business activities it has correct impacted the retailing industry to a significant level. Internet in other words have changed the usual way of conducting business activities. As Internet is easily accessible by everyone with the help of the most up-to-date technological gadgets such as smartphones, ta blets and etc., it has created the latest trend of online retailing. Internet has used the element of convenience for the customers and formed the aspect of online retailing for consumers. The pioneers of online retailing such as Amazon, BestBuy, eBay, Zulily and many more have ensured that the customers are provided the most sensational online shopping experience. These online organisations have proven their level of success and hence now we can observe many online retailing firms emerging in the market. There is constant improvements observe in the online businesses and alike we can observe that the mode of payments are advanced and fully secure. In order to create a wholesome experience, the online stores are ensuring that they give utmost importance to each and every aspect of the e-retailing so that the customers are willing to increase their online purchases. According to a reputed research firm, Forrester, E-commerce is estimated to approach a figure of about $ two hundred b illion in terms of revenue alone in US which accounts for about 9% of the correct retail sector sales. There has been 5% increase in the retail sales as compared to its stand about five years ago (Rigby, 2011). Literature Review In the retailing industry, the retail stores are mainly classified in either of the two categories i.e. organised or unorganised. Within the organised sector, the retailers ensure that they provide the customers with the complete range of options from products to services so that they can take advantage of economies of scale and conveniently shop around the store. On the other hand,