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In this study we will be presenting the e-commerce of the Brick and Mortar Company. Consumers are the monarch for companies that are strictly Brick and Mortar that are trying to progress to e-retailers. Shopping online is easier, and the customers wants are constantly changing. They must be successful in unscrambling themselves to appeal to the better nature of the customers as well as to create trust.
The increased amount of technology use within companies has encouraged the fashion industry and marketing teams to embrace new trends with technology.
This embrace will allow the business to merge online shopping with the ability to still have a brick and mortar running. It will be able to simplify management of inventories and shipping, it can cause the business to provide order status and online payment processing schemes and it can be effective to facilitate collaboration between staff and customers, it will be able to manage customer contacts, as well as provide regular reports and management of the business in general.
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“ She followed all my directions. It was really easy to contact her and respond very fast as well. ”
Here is an example of a business in the fashion industry that would wish to adopt this movement for the benefit of both the operation of the business and its customers. This allows for them to be in effective competition with the other companies in the same industry. The technologies include big data and knowledge management and cloud computing.
The big data and knowledge management technology is referring to a system of technology that encompasses internet clicks, mobile transactions, social media, and generated content like sales.
It typically uses techniques that are effective in revealing patterns. It is generalized by large amounts of stored and generated information, the speed at which it is generated, and variability and quality of the information obtained. Big data and knowledge management has been cultivated by many businesses to aid in new ideas, updates on patterns, shapes and styles in the fashion industry. This was all done through social media, views and opinions on applications such as on Pinterest, Etsy, Youtube and more. This assists in the customer service department as well because it incorporates customer likes and dislikes as well as inviting customers in by having the latest items, even items that fashion designers may need, all because of using the comments on magazine sights and other avenues. It has caused innovations of ideas and concepts that will be efficient for the company to grow in revenue. This technology is also used by Bluefly, Zappos and Macys, all of which used the transform to their advantage and have become a digitalized fashion industry as well as sustaining their brick and mortar. On the other hand, we have Cloud computing, which involves the use of mobile device application to perform business attributes. It lessens the workload utilized by computer software, which causes a decrease in money being spent to install/configure/test software and process secure updates on a regular. Cloud applications usually are run for day with a shared reduced price. It is mostly used in the fashion industry amongst management of customer relations, human resources and account operations. The company Lyst is one of the ones who utilized this technology to its betterment of its business by using the customers that knew exactly what they wanted and made sure they made it easy at checkout for them.
This here is to grow the company’s income and maximize revenue by using e-commerce technologies. The fast expansion of the web and mobile networks creates new markets. I believe that this company should adopt the big data and knowledge management because it functions based on the current trending topics and internet clicks, mobile transactions, social media and sales questions. This alone could increase the marketing for them to effectively compete with their competition. This will give the company to manage their inventory better by giving them the ability to keep all items in stock by knowing what the customers are in high demand for with the big data and knowledge technology and then minimize shopping cart abandonment by allowing them to keep track of the items that have been left in the cart and was not completed by the customer. In any case, sadly the previous decade has additionally seen critical disturbance to web-based business installment procedures and frameworks.
This project builds up administration, improves current administration and decommissions an administration. Ventures effect a few different measurements such as producing extra income and enhancing the customers’ experience. The e-marketplaces evolve through the growth of internet entrance as well as smartphone utilization. That is how the Big data and knowledge management could come in handy by seeing what internet entrances are in demand. They can stay current on the hottest trends and the next big thing. Web authorized mobiles makes shopping a deal for the purchasers. This gives innovation a platform for the retailers for taking an interest for scaling up quickly, increase benefit and is deeply valued by customers. A non-stock group B2C show additionally permits the web-based business players to provide appealing offers that are troublesome for the stock drove Brick and Mortar as well as additionally for unadulterated e-Tailors.
The unified, mysterious and temporary nature of the networks has encouraged improvement of the dangers that focusing on the web-based business as well as brick and mortar. The key drivers of success throughout the following decade will be engrossed on building a deep understanding of and in conjunction with the engaged customers, quickly merging difficult advances, incorporating transformative plans of action in both the disconnected and online space, and setting up key abilities. This change will be hard to bring to the light by professionals that are effectively preparing associations for change and portraying the advances to deliver issues branded with store terminations, work misfortune and reskilling and potential unfriendly ecological effects.
The main competitor of a Brick and Mortar that is trying to gain online revenue is definitively going to be Zappos and Lyst. Zappos is going to be a competitor because they are pretty good at advertising to bring the market in to just look at what they have in store. They use emoji headlines, which we all know emojis are the language of today. They also use words that will entice your interest such as phrases like “free shipping” and 24/7 customer service with an emoji next to it. Lyst is going to be the biggest competitor because they just merged all the websites that they pull inventory from and made it 10 times easier to check out. Before the customer would go the Lyst find the item that they are looking for and when they press checkout they had to get redirected to the original retailer’s checkout. That caused a lot of shopping cart abandonment and ultimately left money on the table. Now after upgrading with technology, they have to it to where when you press check out that you remain on Lyst website and they merge all the items from the different retailers and you can have a real one stop shop like Walmart or Amazon.
Amazon is another competitor that would be someone to do business with in the future. I know myself I love Amazon. Recently I was redirected to Alibaba, but that is neither hear nor there. Amazon has made deals with brick and mortar such as Whole Foods. If anyone knows Whole Food like I do, then we know they were not an online store. They cut a deal with Amazon and now I can do my shopping online. That is something that this Brick and Mortar can consider if they are wanting to maintain their physical location as well as branch out to new marketing. Amazon Web Services offers an internet business distributed computing answer for little and vast organizations that need an adaptable, secured, exceedingly versatile, and ease answer for online deals and retailing.
Zappos is a good example of using the big data and knowledge technology to their advantage. Zappos is an online shoe and clothing retailer based in Nevada. They were founded in 1999 and launched under the domain name shoesite.com, however back in July 2009 Amazon acquired Zappos in a stock deal and that is how they began to rise with technology. The Big data and knowledge technology provide Zappos with razor-sharp knowledge such as what a customer is all about. You know who they are married to, how many children they have, if they have any pets, what region they live in, what they like to eat for breakfast, what kind of shoes they like, their favorite brand and more. Therefore, Zappos has the capability of assorting any location across the country with precisely those items that are locally preferred. The personalized knowledge that Zappos continues to build on, and that all retailers are pursuing, is collected over time across all accessible consumer browsing and transactional points. It tracks consumer shopping behavior and can be drilled down to individual profiles. This is what we call the big deal of the Big data and knowledge technology.
In Cloud Computing Lyst has taken the cake. Lyst is a global fashion search engine. You can shop for items from retailers all over the world. However, Lyst does not stock any of the items they are just a pass through and use cloud computing to get your order places and packaged directly with the retailer who will ultimately fulfil the order and organize the delivery to you. Cloud computing is revolutionizing the way business is conducted all over the world. When they decided to redo their website so that it does not redirect you to the original retailer’s website when you want to check out they let their cloud servicing provider assume all the risk and most of the burden when it came to IT infrastructure. They made it safe and secure for customers to use their banking information and that in turn gave them a more connected workforce. Lyst stored as much information as they could to satisfy the customers that were looking for the fastest, most effective and easiest way to shop across a variety of suppliers and retailers. Fashion attracts a lot of people just simply because it is glamorous and cloud computing allows them to do that.
Zappos is benefiting the most from the Big data and knowledge management technology. Their biggest sales come from repeat customers because Zappos has the ability to collect and analyze customer data to create an experience so individualized and valuable that customers can’t help but come back. The way that they leverage big data is a lesson in how smaller businesses can do the same and create a better experience for their customers. They avoid data silos so that every customer received service based on all their previous interactions with the company. The company logs a customer’s interaction through Twitter, Facebook, Instagram, websites and phone and it is accessed by every customer service representative. They also use this data to personalize marketing. Zappos combines information on a customer’s demographics and past purchases with third party data. They target customers with ads that anticipate their needs. As a small business you can also personalize offers and recommendations. Zappos also uses big data to quickly spot customer service failures. They welcome honest complaints and use the data from the negative social media mentions to reevaluate their customer service process. In a smaller business you can use this type of data to analyze your own customer service failure and determine areas of improvement. Ultimately, Zappos uses big data and knowledge management technology successfully because the firm understands what data is has access to, analyze the date with specific goals in mind and applies that data creatively and systematically.
While the brick and mortar model presented its own set of challenges, online shopping has come up with its own set of complexities. Mostly eCommerce site owners are at the receiving end of the Rubik’s cube, which seem to never reach the solution, making it imperative to constantly improve, adopt, learn and implement in a race towards sustainability, profitability and scalability. Channels are where you market your platform. Your catalogue or products drive your revenue. Pricing determines your brand positioning, and evolves from your customer acquisition strategy, product margins and many more. A play among these levers determines where you position yourself in the market, and the kind of scale or revenue you generate from your online store.
When you have multiple platforms, there will be one question which needs addressing – Whether one channel is cannibalizing revenue from the other? Marketing spends get split across channels for various purposes. One of them is brand marketing (offline and online), which includes display networks, banner inventory buyout, video promotions, offline marketing and Social media organic marketing. The other part of channel marketing is to drive revenue, and those channels are typically known as performance marketing channels. They include Social Paid marketing, Retargeting, Affiliates, to name a few. As the eCommerce industry is evolving, every aspect of it is becoming smarter. Progressive Web Apps for Mobile Web, Programmatic marketing for display, multiple payment options, international shipping, shop the look for fashion eCommerce, and App deep linking and deferred deep links. Big Data and Knowledge ManagementBig data and knowledge management is sufficient for managing inventory and shipping, provide order status, checking and online payment, and manage customer contacts. Massive collection and processing of the quantitative, or structured, data, as well as of the textual data often gathered on the Web, has developed into a broad initiative known as big data. Many benefits can arise from decisions based on the facts reflected by big data. The aggregated data supplies early information on price movements, enabling more responsive decision making than was previously possible. The processing of textual data, such as reviews and opinions articulated, by individuals on social networks, blogs, and discussion boards, permits automated sentiments analysis for marketing, competitive intelligence, new product development, and other decision-making purposes.
Clouding computing uses drawings of stylized clouds to denote networks in diagrams of computing and communications systems. Cloud computing can integrate online shopping, manage inventory and shipping, facilitate collaboration internally and externally, manage customer contacts, provide reporting, and manage the current brick and mortar process. There is a gap when it comes to providing order status and checking online payments, which is where the Big Data and Knowledge Management comes in handy. Cloud computing encompasses Software as a service, also known as SaaS, which involves the supply of a discrete application to outside users. The application can be geared either to business users (such as an accounting application) or to consumers (such as an application for storing and sharing personal photographs).
Another set of services, variously called utility computing, grid computing, and hardware as a service, also known as Haas, involves the provision of computer processing and data storage to outside users, who can run their own applications and store their own data on the remote system. A third set of services, sometimes called platform as a service (PaaS), involves the supply of remote computing capacity along with a set of software-development tools for use by outside software programmers. If it is good enough for Google and Amazon to use it as a building block for their successful company, I can see the results for this Brick and Mortar will be significant.
Big Data presents challenges for digital earth to store, transport, process, mine and serve the data. Cloud computing provides fundamental support to address the challenges with shared computing resources including computing, storage, networking and analytical software; the application of these resources has fostered impressive Big Data advancements.
If I had to choose just one technology solution I would chose Cloud Computing due to the better outcome and how many more qualities, it covers when coming to the Brick and Mortar’s requirement. While cloud computing emerged a bit earlier than Big Data, it is a new computing paradigm for delivering computation as a fifth utility (after water, electricity, gas and telephony) with the features of elasticity, pooled resources, on-demand access, self-service and pay-as-you-go. Cloud computing provides a new way to do business and support innovation. Cloud computing could be leveraged to tackle these challenges in Industry 4.0 for networking, data integration, data analytics and intelligence for Cyber-Physical Systems and resiliency and self-adaptation.
This will the best benefit because cloud computing provides virtually unlimited storage, computing and networking. It has emerged as a potential solution to support computing and data-intensive applications.I. It provides a flexible stack of massive computing, storage and software services in a scalable manner and at low cost which is great for this Brick and Mortar that is just starting out and may not know much about what the conversion entails.II. It offers virtually unlimited and on-demand processing power as a partial solution. Computing infrastructure, especially cloud computing, plays a significant role in information and knowledge extraction. Cloud computing enhances the sharing of information, applying modern analytic tools and managing controlled access and security.
The Need For Implementing Big Data And Knowledge Management And Cloud Computing Technologies in Brick And Mortar Company. (2024, Feb 02). Retrieved from https://studymoose.com/the-need-for-implementing-big-data-and-knowledge-management-and-cloud-computing-technologies-in-brick-and-mortar-company-essay
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