...shopping but the two most common are in store and online shopping. Although people shop using the internet and retail stores, it is very simple to see that shopping online is more convenient, faster, easier, and cheaper than shopping in retail outlets. When shopping online you can just go sit down have a bite to eat, maybe even a little bit to drink and just get to surfing the web. There is just simply no reason to even leave your chair! This way there is no need for commuting and no worries about having to go all the way up to the 25th floor just to find a parking spot. Online shopping gives you the convenience of being at home and the best part about that is there are no lines! Everybody, even the people who love retail-in store shopping hate having to wait 10 minutes in a line or at busy times maybe even up to an hour which is very time consuming. Although shopping online is much faster sometimes it is necessary to go to a retail store. For instance, if somebody needs a button down shirt for an interview the next morning the convenience and the speed of online shipping won’t really be able to help them. They would need to just go to the retail store so that there will be no shipping time. This way you will have your purchase right away. Although both shopping online and shopping in stores are very popular each category of shopping reflects back to a certain age group. For example, the common teenager would most likely use online shopping. This is because teens find it very easy...
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...Online vs. Retail Shopping Online vs. Retail Shopping Once upon a time there was no such thing as the internet. Everything you needed and wanted had to be purchased in person. Now days you can sit in the comfort of your home, place of work, car, or even the local coffee shop and purchase most things through the internet. Is this the new frontier of shopping, or will there still be a place for a walk-in retail store. I have seen a lot of retail stores close and I am constantly wondering if it is because of on-line shopping. In the days before the internet any shopping you needed to do had to be accomplished by physically going out to the store that had the item you wanted. Fighting traffic, getting to the store early for the best sale, scrambling to get an item of limited quantity, these were the glory days for retail stores. These days you can purchase most anything you want or need without leaving the comfort of your home. Furniture, electronics, clothes, toys, and even groceries can all be purchased online and delivered right to your door. More and more people turn on their computers and shop for what they need instead of going out and braving the crowds in the retail stores. “Online retail sales aren’t growing at the torrid pace they once were, but they continue to grow steadily. Forrester Research put out a new five-year forecast today predicting that e-commerce sales in the U.S. will keep growing at a 10 percent compound annual growth rate through 2014....
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...Introduction Online retail businesses have increased dramatically over the past decades. Many factors have contributed to the growth of the online retail business, among which is that no sales taxes are imposed when customers buy goods from out-of-state online retailers. However, many states are now seeking to legislate the Marketplace Fairness Act of 2013 (MFA), which will levy sales taxes on online retailers even they have no physical presence in the state.(1) According to the report Sales Taxes and Internet Commerce, it shows that online shoppers are sensitive to the price and sales taxes of online purchasing. (2) This paper will address three questions:1)Why does the government want to pass MFA to collect sales tax for online retail business;...
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...Corporate strategy report on the online retail Industry (AMAZON AND ALIBABA) Introduction This report will first analyse the global online retail industry by showing its evolution, characteristics and future outlook. It will also analyse the competitiveness and strategies used by Amazon Inc. and Alibaba Group to dominate the market as well as give an insight of their future challenges and some concrete strategic suggestions for how these firms might deal with them. The industry lifecycle stages is a famous model explored by Michael Porter. According to him, the industry is one of the most important factor of a firm’s environment (Porter, 1980). The global online retail is still at the beginning of its growth cycle. It is also one of the most promising and therefore attractive industry. It has experienced a compound annual growth rate (CAGR) of 22.6% between 2010 and 2014. The sector grew by 19.1% in 2014 to reach a total value of $974.5 billion and is expected to grow by 114.5% by 2019 compared to 2014 to reach a value of $2,090.2 billion (MarketLine, 2015). The industry lifecycle stages is a famous model explored by Michael Porter. According to him, the industry is one of the most important factor of a firm’s environment (Porter, 1980). The global online retail is still at the beginning of its growth cycle. It is also one of the most promising and therefore attractive industry. It has experienced a compound annual growth rate (CAGR) of 22.6% between 2010 and 2014....
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...Consumer Attitude Towards Online Retail Shopping in the Indian Context Sangeeta Sahney *, Archana Shrivastava** and Rajani Bhimalingam*** The objective here is to look into the various aspects of online shopping in modern day environment and to identify those factors that affect the development of attitudes towards online shopping. The study also aims at identifying customer requirements with respect to online shopping, giving certain conclusions to ensure the success of an online shopping site. This study is descriptive, diagnostic and exploratory in nature, and is aimed at identifying critical parameters in online retail shopping, tapping consumers’ feelings and attitudes towards online shopping, and establishing attitudinal differences across demographics. It reaches a logical conclusion through the identification of key design areas. It helps one to understand what consumers expect from an online retailing store for their satisfaction and delight. By examining the various dimensions uncovered in this study, online retailers can develop a better understanding of consumer needs. Marketing academicians may use this study for assessing consumer attitudes towards online retail shopping in the Indian context, thereby, identifying such attributes that would lead to positive attitudes towards online retail shopping. Online retailers may also use the findings of this study as a resource, while constructing, managing, and evaluating their marketing strategies in the Indian context...
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...rapidly growing online retail market With the rise in incomes coupled with the fact that more and more people today have some kind of online presence, it is imperative that the online retail market has assumed a significant role. Time is money, and people now often find it convenient to order items online instead of wasting the whole day moving around garment stores trying to find the best fit at the best price. In an emerging market like India, this kind of shift to shopping at the portals is happening gradually and the companies which are able to exploit the opportunities and handle the obstacles that they face along this kind of digitalization will have better chances at capturing market share. Brief Overview of Indian Apparel Industry and Emergence of Online portals India is endowed with natural resources like jute, cotton and silk. The textile industry is the largest employer of Indians, after the agriculture sector. But around 80% of this business is in the unorganized sector. Approximately 20% of Indian exports and 4% of Indian GDP is contributed by the apparel and clothing industry. However the Indian apparel industry has certain problems typical of emerging markets like labor, supply chain inefficiency, obsolescence. Despite these hurdles the unorganized sector is poised to grow at about 10% and the organized sector at close to 40%. The proliferation of social networks has ensured that a large number of Indians have some kind of online presence. The 300...
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...<Project Name> will be replaced with either ‘Smart Home’ or ‘Sensor Network’. Italicized text is included to briefly annotate the purpose of each section within this template. This text should not appear in the final version of your submitted SRS. This cover page is not a part of the final template and should be removed before your SRS is submitted. Acknowledgements: Sections of this document are based upon the IEEE Guide to Software Requirements Specification (ANSI/IEEE Std. 830-1984). The SRS templates of Dr. Orest Pilskalns (WSU, Vancover) and Jack Hagemeister (WSU, Pullman) have also be used as guides in developing this template for the IT -706 Minor Project course. Software Requirements Specification for ONLINE RETAIL MANAGEMENT SYSTEM Version 1.0 approved Prepared by Dipali Jain, Ruchi Jain, Shivali Jain Indore Institute of Science & Technology 5th November 2013 Revision History Name | Date | Reason For Changes | Version | | | | | | | | | * Document Approval The following Software Requirements Specification has been accepted and approved by the following: Signature | Printed Name | Title | Date | | | | | | | | | Table of Contents Revision History ii Document Approval ii 1. Introduction 1 1.1 Purpose 1 1.2 Scope 2 1.3 Definitions, Acronyms, and Abbreviations …….....2 1.3 Intended Audience and Reading Suggestions 2 1.4...
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...being altered which increases value for the consumer as the retailer “middle man” is being cut out. Where merchandiser has direct access to the consumer. Banking industry has followed suit to create BPAY, Paypal etc. * Product Segmentation * Clothing * Small Goods * White Goods * Food * Music * Movies * Services * Industry Life Cycle – Fig 2.8 Page 2.19 * Early stages of the Growth Cycle * Remote Environment * POLITICAL – Change in legislation – ie. Tariff attached to every purchase. Negative * ECONOMIC – Exchange rate fluctuations – most online shopping growth is coming from intl. Labour Costs – need to reduce in order to make retail shopping more competitive. Positive * SOCIAL – Better Security – with entering personal banking information for online payments. Work/Life balance – Convenience and time poor. Positive * TECHNOLOGICAL – More efficient. Very dependent on advancing technology. Cost of production is reduced as the “middle man” ie. Retailer is reduced. Positive * ENVIROMENTAL – Logistically – more trucks on the road to make deliveries. Increased Packaging. Negative * LEGAL – Actually changing the legislation – to allow companies to ship to Australia. Positive More positives than negatives – industry will grow at faster than average rates. PG 2.35 Porter’s 5 Forces 1. Threats of new entrants Industry is attractive. No significant...
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...Best Buy Case Write-up | | Best Buy Case Write-up | | I. Company Problems Best Buy is experiencing several difficulties that have arisen due to problems within the internal and external environment that Best Buy is operating in. The largest problem, as we see it, is that Best Buy has failed to adapt to the current age of retail. Currently consumers have seem to have a preference to buying electronics online (Amazon), directly from the manufacturer (as in Apples case), or from a more convenient location where other products can be purchased (Walmart). Although Best Buy does have an online store it simply cannot compete with the powerhouse of Amazon. Amazon has a firm grip on online retail that Best Buy is not likely to make a dent in. Best Buy simply cannot undercut Amazon. Aside from not adapting to the current market place, Best Buy has problems elsewhere. Best Buy has made crucial mistakes in its overseas ventures that have turned some of their international stores into business disasters. In order to compete in an international market Best Buy needs to do better research regarding the demands of consumers in EACH international market they enter to avoid more embarrassing situations such as what happened in Turkey and China. II. General Environment Threats/ Opportunities Some opportunities in the general environment that Best Buy has is the opportunity to successfully integrate into the Asian and European markets...
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...inShare0 0 Comments In-Depth Analysis: Best Buy (BBY, AMZN, WMT, BKS, BGP) Best Buy (NYSE: BBY[FREE Stock Trend Analysis]) reported fourth quarter and full year earnings yesterday and failed to meet analysts' expectations. Best Buy reported revenue of $16.26 billion in the fourth quarter compared to $16.55 billion in the same period a year ago, or a decrease of 1.8%. Net income decreased by 16.4% from $779 million to $651 million. Thus, earnings per share fell from $1.82 to $1.62.This decrease largely reflects Best Buy's decision to spend $222 million in restructuring charges to focus its international efforts and drive supply chain efficiencies. Excluding restructuring charges, earnings per share rose for the quarter to $1.98 which beat analyst estimates. Nonetheless, Best Buy's stock price showed that investors were less than thrilled with the earnings news. Best Buy's share price fell 5.4% on the release of the earnings information. Best Buy struggled domestically: revenue fell 4% versus the prior-year period. Most notably, there was double-digit decline in sales of entertainment hardware and software and TVs. Consumer demand for new television technologies was not a significant revenue-generator. Where the domestic segment declined, it was offset by the 4% increase in the international segment. This increase is mostly due to new store openings and a favorable fluctuation in currency exchange rates during this time. As Benzinga readers already know, Best Buy has missed...
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...Case Study One Daniel Smith Southern Wesleyan University April 2, 2016 1) Think back on our discussion in the chapter section, Caveat Emptor-Be An Informed Consumer, evaluate whether the replacement of highly paid workers with lower-paid workers did or did not cause Circuit City to perform so poorly. How confident are you in your evaluation? Why? After reviewing the article, one can be confident that the replacement of highly paid workers was what made Circuit City perform poorly, which led to Circuit City closing. One can be confident that high paid skilled workers is what hurt Circuit City due to Best Buy being able to outperform Circuit City with less quality people and lower wages. Highly paid workers hurt Circuit City due to Circuit City not being able to compete with Best Buy; then replacing the high paid skilled workers with lower paid unskilled workers is what put Circuit City over the edge. The only way that Circuit City could compete with Best Buy is through customer service and when it replaces the high paid workers, it lost the customer service too. 2) Do you believe that the compensation changes at Best Buy are a major reason for its current difficulties? Since Best Buy is making cuts in departments that will not affect customer service, one can determine that the compensation changes are not a major reason for Best Buy’s current difficulties. The major reasons for Best Buy’s difficulties are increased competition from discount stores like Amazon...
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...Is it necessary to combine Investment Banking and Commercial Banking? Separation of Retail Banking and Investment Banking was a hot topic with President Obama’s proposal in January 2010 regarding a ban on US Banks on retail banks from using their own funds in investments and limiting to invest their customer’s funds. This news made many to wonder whether the world is going back to replace Glass Steagall Act which was abolished in 1999.(BBC,21January2010) Glass-Steagall Act(GSA)commonly known as Banking Act 1933 made the investment banks and Commercial Banks to function separately in order to refrain Commercial Banks from greater in securities business activities. This Act prohibited Commercial Banks to underwrite securities to public while it prohibited Investment Banks to accept deposits from customers. (Investopedia,2003). Many argue that commercial banks should not involve in securities(stock/bond)market investments as commercial banks divert funds in investment banking. In other words internal transparency of movements of funds not very clear when operating as a ‘Universal Bank’. Prior to 2007-2009 financial crisis Commercial Banks were greedily involved merely because of profits in securitization business where subprime mortgages were involved. During the rise in property market in 2006,banks created and traded in securitized assets, backed by subprime mortgages. Banks became greedy of making more money through SPV(Special Purpose Vehicle)taking high risks. When...
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...Introduction 1. Banking industry and financial sector Within the global banking industry, financial sector is an important part of overall global economy and is primarily composed of banking institutions, money markets and financial brokers. This sector is considered as a vital component of developed economies such as the USA, UK, Switzerland and Japan. The definition of a retail bank as described by the banking industry is that it operates within the financial institutions offering services such as adjustable rate mortgages, financial derivatives, bank credit and debit cards, electronic banking etc. Theses organizations are also regulated and controlled by industrial standards’ legislation and regulations that should be adhered to, in order to successfully operate in the industry (Bennett Kottasz, 2012). However this sector, that plays a key role in economic integrations of countries (Winder, 2013), had recently shown signs of distress mainly due to uncontrolled lending and unwarranted risk-taking activities (Habib, 2013). In addition, there had been a lack of transparency. Incidents within last decade such as Lehman Brother collapse and financial meltdown of 2008, created lots of ambiguities in understanding banks risks from imitative trading and therefore unwillingness of any bank to trade or lend to any of the bank. In particular these incidents create an uncertain situation where it is difficult to speculate which particular financial organization might unexpectedly...
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... in the online and mobile banking business. Mobile Product Development and The launch of this app was a success and it garnered millions of subscribers. Now however hesitant to add more features, as they fear it will make the app complex access the bank through a mobile application (or app) on their smartphones and through mobile web on their phone’s browser. It is now at number one position the business managers want to cash in on this success by building more functionality to facilitate growth of other businesses. The strategic team is which in turn could affect user experience and is thus a huge risk. Competitors like Citi are though already in this business and have provided their users with BofA are downfall of financial service industry due to the great depression. Since spending which has narrowed due to this depression. In addition to this, the concern among the users and data access costs involved in use of mobile banking. To overcome these challenges, BofA need to focus on improving customer satisfaction and building brand loyalty. BofA relies majorly on retail banking business, they thrive on consumer costs of developing the app are very high due to the complexities involved in latest smartphones and their operating systems. There is also a sense of security many facilities through mobile app. Other environmental factors posing threat to growing penetration of smartphones and fast Internet connectivity has led to of social media and online searching...
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...INTERNSHIP REPORT ON Retail Banking Activities of City Bank Ltd Gulshan Branch of the year 2009, Dhaka 1 INTERNSHIP REPORT ON Retail Banking Activities of City Bank Ltd Submitted to: Syeda Shaharbanu Shahbazi Ahmed Senior lecturer, BRAC Business School BRAC University, Dhaka Submitted by: Md.Mozahidul Islam ID: 05304077 Date of submission: 20th December, 2009 2 Letter of Transmittal December 20, 2009 Syeda Shaharbanu Shahbazi Ahmed Senior Lecturer BRAC Business School BRAC University, Dhaka Dear Madam, I am glad to submit my report on the topic as you have assigned me to prepare an internship report on retail banking activities of City Bank limited of Gulshan Branch as a partial requirement of the course Bus 400. Now I am looking forward for your kind appraisal regarding internship report. You would be glad to hear that I have given my best effort to prepare the report with relevant information that I have collected from City Bank Limited, Gulshan Branch and from other relevant sources during my internship program. I have the great pleasure to have the opportunity to study on “retail banking activities” of City Bank Ltd. It is meaningful to mention that the knowledge I have gathered during the internship period, will help me in practical field of professions. In spite of various inadequacies I have tried to cover all the relevant affairs. It is quite worthy to mention that without your kind hearted guidance and cooperation it would not be possible for...
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