Technology in Retail and Marketing

Online Shopping


Online shopping has surged in popularity in recent years, it allows the consumer to purchase their goods or services directly from the seller over the internet. From the comfort of the users home, they are able to use their computer or mobile phone and directly access their favourite store from their online website. This is one of the main reasons why online shopping is so popular, it is very easy and convenient for the consumer. Online shopping also boosts retail efficiency, by taking advantage of AI personalised browsing and utilising the customers previous searching experience, retailers can tailor their application to show products relevant to your recent history allowing for the consumers to be shown products that would more likely interest them and increasing the chance of purchases for the sellers.

Pros and Cons of Online Shopping
Pros Cons

Stores Are Never Closed

With online shopping, consumers can purchase their products at any time of the day. Whether it be in the afternoon or midnight. Being operated through an online website allows consumers to shop at their own convenience.

Cannot Physically Touch Items

Online shoppers do not possess the ability to physically inspect the item before purchase.

Know when stock is finished

Online stores allow you to see what stock is available. In comparison, when you drive to a store to purchase a specific item it may not be in stock and you have to just drive back home.

Returns

Restocking and shipping costs are often charged on returns.

Online Shoppers Save Gas

Shopping online can be done from the comfort of one’s own home, this means that they save gas that would otherwise be spent driving to the location of the store.

Salesperson

There is no salesperson to assist you if you are shopping online.

Mobile

It is predicted that within the US approximately half of all online shopping will be done through mobile phones by 2020 (Nicasio, 2018). Many retailers are attempting to make the mobile shopping experience as smooth as possible by creating responsive websites with adjustable user-interfaces based on the device that the customer is using. Mobile phones will not only be the preferred way for online shoppers in the future but will also become the preferred method for contactless payment in store. With processes such as Apple Pay, customers won’t be needing to carry credit cards and will rather buy t heir products by utilising the digital wallets within their phones.


Growth in Online Sales

Australia is an example of one of the strongest e-commerce markets in the world, with forecasted sales of $32 billion for 2017 and an annual growth rate of 13.5% (Vantha, 2018). Using technology for purchases is so common now that it is considered mainstream in many retail industries.



Source -(Kerrison, 2018).

Conclusion

With the continuation of this technology filled era, it is clear that not only is technology aiding in retail by helping with things such as inventory management and customer service it also plays a large role in marketing, as online shopping is continually growing and becoming more popular with the rise of electronics. Technology overall benefits the retailers allowing them to gain more exposure online and reduce their workload in stores and the consumers as they benefit from the many positives that technology brings to them such as automated services like self-checkouts and the ease of access being able to shop from the comfort of their own home. Technology is a staple in retail and marketing and as it continues to evolve the possibilities are endless.