Impact Of Online On Retail Sales

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Topic 5 Ch. 18

Monday, October 27, 2014
9:54 AM

Impact of Online on Retail Sales • Trend in online shoppers and online retail sales revenue in US

Interactivity and Individuality • Interactive marketing- two-way buyer-seller electronic communication in a computer-mediated environment in which the buyer controls the kind and amount of info received from the seller • Choice board- an interactive, internet-enabled system that allows individual customers to design their own products and services • Collaborative Filtering- a process that automatically groups people with similar buying intentions, preferences and behaviors and predicts future purchases • Personalization- the consumer-initiated practice of generating content on a marketer's website that is custom tailored to an individual's specific needs and preferences • Permission Marketing- asking for a consumer's consent (called "opt-in") to receive email and advertising based on personal data supplied by the customer

Seven Key Website Design Elements 1. Context a. Site's layout and visual design 2. Commerce a. Site's capabilities to enable commercial transactions 3. Connection a. Degree that site is linked to other sites 4. Communication a. The ways the site enables site-to-user, user-to-site, or two-way communication 5. Customization a. Site's ability to tailor itself to different users or to allow users to personalize the site 6. Community a. The ways that the site enables user-to-user communication 7. Content a. Text, pictures, sound and video that the site contains

Creating an Online Experience • Context ○ Functional ○ Aesthetic • Content*** • Customization • Connection • Communication • Community • Commerce

Who is the Online Consumer? • Seek product information ○ Educated ○ Young ○ Affluent ○ Diverse • 20% of those who spend $1,000+ per year online = 87% of sales

What Online Consumers Do/Buy • Product information • Audio/video demos • Digital items • Unique items • Convenience items • Standardized items

Shopping Online • Bots- electronic shopping agents or robots that comb websites to compare prices and product or service features • Eight-Second Rule- a view that
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