Online retailers have been growing quicker than their bricks-and-mortar peers across several segments including apparel, books and furniture.
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WiseGuyReports published new report, titled “Online Retailers Leaping Ahead Through Technology”.
"Online Retailers Leaping Ahead Through Technology", report analyzes the strategies and technologies deployed by eTailers, and provides insight into how these could be applied to traditional retailers with physical stores. Additionally, this report advises IT vendors on developing innovative solutions and how to target traditional retailers with similar solutions as those used by successful eTailers.
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Since these eTailers lack physical stores for showcasing their products and sales assistants to provide recommendations to customers, they have naturally invested a large part of their budget into IT systems from the front to the back end. Many eTailers are also born in the cloud, meaning that they may not own any servers or storage arrays but rely on cloud service providers’ resources, which gives them greater flexibility and scalability.
- Innovation is driven by online retailers’ focus on cost efficiency since they face tight margins and often compete on price against traditional retailers who offer a full store experience
- Detailed customer insight and a user-friendly interface is the key for success; by running sophisticated algorithms to determine what a customer may be interested in and building up complex customer profiles, many upselling and cross-selling opportunities can be opened up
- Traditional retailers need to bring the benefits of eCommerce to their physical stores by introducing digital platforms and creating an omnichannel experience
Key points to access
- Gain insight into online reatailers' strategies and their usage of innovative IT systems. This can be useful for pitching technologies to online and traditional retailers, and for developing omnichannel retail concepts and visions.
Table of Contents
1 eTailers are driving innovation in retail systems 2
2 Mobile and social strategies are paying off 3
3 What can traditional retailers learn from eTailers? 4
4 Recommendations for IT vendors 5
5 Appendix 6
5.1 Further reading 6
5.2 Contact the author6
5.3 Contact Us 7
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