Antecedents Consequences Internet Channel †Myassignmenthelp.Com

Question: Discuss About The Antecedents Consequences Internet Channel? Answer: Introduction With the advent of ecommerce, the future of retail markets looks bleak. Though shopping has become a human need, transforming into a form of social ritual over the years, with the increase of online shopping, it has been observed that when compared to the marked increase of profits in the online market, the retail market falls heavily short and lags behind to a point that threatens its existence. This has led to the introduction of ecommerce schemes in many major retail chains, including Wal-Mart (Wolk and Skiera, 2009). The term pure retail is dead is slowly arising in the minds of the experts and the statistics are clearly pointing towards this devastating future of retail markets. Current Operation According to Kasiri and Ericson (2016), Currently, Wal-Mart, the giant of the retailing market, has begun to make its mark in the ecommerce market since 2011. It is estimated that the growth of sales in the ecommerce market will reach $22.049 trillion, a 6% growth from the previous year and that if the rates continues, the ecommerce sales will top $27 trillion in 2020. However since the introduction of ecommerce in Wal-Mart, the company has underperformed online. Despite having a larger sale base than most ecommerce companies, Amazon.com, an ecommerce giant, saw an increase of 27% in its retail sales in North America and 24% internationally, while Wal-Mart continues to have a slow increase of 15% year after year (Weltevrenden and Boschma, 2008). Discussion on the key points The difference in retail market and ecommerce has been estimated in the different mindset that the consumers go through during a transaction process (Kumar, 2016). Ecommerce markets provide convenience and competitive along with the theme of availability by providing anything we want, wherever we want and whenever we want. On the other hand, retail markets focuses on providing an experience to the consumer, that makes it beneficial for them to test a product, socialize in the marketplace, and create a social marketing platform to lead to a sale (Zhou, Dai Zhang, 2007). This is the reason why it is still seen that many new releases, consumers tend to appear in the retail market, socialize and purchase without resorting to a much more convenient ecommerce market. How it can be more effective with Internet technology Wal-Mart has already started investing in an ecommerce market to hold its position as not only one of the major retailing chains in the global market, but also a strong player in the world of ecommerce (Bellman, Lohse Johnson, 2000). However, due to its late entry in the ecommerce world, the position of Wal-Mart is falling short before the giants of ecommerce like Amazon and Ebay who are still ruling the online marketing world. However, if the future of the retail markets needs to be held, it should merge with the digital world and make its store more experience friendly, thus enabling Wi-Fi technology in stores and inducing customers to participate in product release programmes, in self-customization programmes (Wirtz, Schilke and Ullrich, 2010). Recommendation Retail markets should not search for new channels to increase their sales, nor should they compete to be the cheapest but rather they should start taking some serious efforts to make an environment conducive of marketing socialization, making the distribution of experience their main goal. Thus, they should use interactive mechanism where customers are put into an environment where they could try new products, play with the products, review their social networking sites, and even customize their own products in the store (Zhou, Dai Zhang , 2007). Conclusion Retailing has been an important part in the development of the market economy of the world. Now that its floundering under the pressure from the new form of market facilitated by the internet, there is a necessity to make some large scale alterations to the physical setting of the retail market and enable the market to adopt digitalization fast. References Bellman, S., Lohse, G.L Johnson, E.J., 2000, Predictors of Online Buying Behavior, Communications of the ACM (Association for Computing Machinery), Vol. 42, No, 12: 32-38 [online]. https://www.cscanada.net/index.php/css/article/download/1087/1106 [Accessed 19th September 2017]. Kasiri, N. and Ericson, G.S., 2016, Beyond operational efficiency in retail: Rfid's tactical and strategic implications International Conference on Intellectual Capital and Knowledge Management and Organisational Learning, 136-142 [online]. 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Ullrich, S., 2010, Strategic Development of Business Models:: Implications of the Web 2.0 for Creating Value on the Internet Long Range Planning [in press], pps 19 [online]. Available from: https://www.google.co.in/url?sa=trct=jq=esrc=ssource=webcd=2cad=rjauact=8ved=0ahUKEwiM9reL-bbWAhXGRY8KHQBmDm4QFggvMAEurl=http%3A%2F%2Fisiarticles.com%2Fbundles%2FArticle%2Fpre%2Fpdf%2F7685.pdfusg=AFQjCNHpE2N0iW18ad5E_sDjdAAYt37DMw [Accessed 20 September 2017] Wolk, A. Skiera, B., 2009, Antecedents and consequences of Internet channel performance, Journal of Retailing Consumer Services, 16, pp. 163-173 [online]. 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