What is E-Tailing?
The word E-tail has its roots in the word ‘retail’. Here the letter E stands for ‘electronic’ since the shopping process happens through the electronic media (internet). With the use of a web-space a virtual shop is created and the products are displayed through images in this space with the features and price tags. By accessing this shopping site a customer can choose his/herproducts into a cart. The payment to this product can be done in various modes as mentioned by the shopping site. The product would be delivered to the address specified by the customer.
Customer visit: The customer accesses the website of the e-tailer through his/her mobile or PC or laptop. This visit is very critical to the e-tailer because it is this visit that would create an opportunity for a business. The simplicity of the site, the arrangements of the products in the site and various other factors decide the first impression of the customer.
Payment online: Once the customer chooses the product the next step would be to go through a secure process of data exchange. The e-tailer may provide a unique user account to the customer to keep the transaction safe. Payments to the product can be made online through credit or debit card or even cash on delivery basis where the customer pays the e-tailer when the product is delivered to him/her.
Product delivery: Once the order is placed with the e-tailer the next process would test the efficiency of supply chain network of the e-tailer. The delivery of the product would be based on the availability of the product in the inventory closest to the customer’s delivery address. This process may also involve shipment of the product. There are different methods used in this process. Some e-tailers just create a platform through a website where the business actually takes place between the customer and a company (or business) who is a client to the e-tailer. Here the e-tailer would just take the commission on each product sold. Typically an e-tailer may also choose to buy products that have potential demand and then display it on the site. In this case the e-tailer would have to take care of inventory expenses and also the entire procurement and disbursement cycle.
- It reduces the space occupied by retail outlets in the real world.
- It gives quick and easy access to a shopping space at any time and from any place where there is access to internet.
- It saves time of the customer that is spent on travelling to a shopping place in real world.
- It creates a new platform for goods from different parts of the world which could be imported by placing an order.
- Indiatimes shopping