Online Retail Market

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Locus Rags
Mark Henry
Propose an online real time business which will, in
your opinion, generate good revenue in future. Explain
fully how this will work and what will be a good
method of payment
Online retail market is very attractive market. It is still in its infant
stage. It is expected to grow rapidly in next 20 years. At
present, the world wide online retail market is
$1.6 T. There are almost 12 million online
stores. There are small subsets of
650000 online stores which are
earning $1000 annually (Lai and Lin
2010). Thus, the percentage revenue
earned from online retail segment is
1% of e-commerce business is
gaining 34% of total revenue; 51% of
e-commerce business is gaining 63%
of total revenue; and 48% of e-commerce business is gaining 3% of
total revenue. The top 1% of e-commerce companies includes Wal-
Mart, Amazon and eBay.
It is an attractive sector to invest as there is remarkable long term
opportunity in online retail segment. To invest in this segment, an
upcoming company should follow the given strategy-
Defining strategy clearly- the products offered should be differentiated
and as per the wants and need of customer.
Creating unique brand awareness- it is important to look different from
other e-commerce companies by creating unique brand and shopping
experience (Titah and Hess 2012).
Mobile application- it is important to develop a website which is
supported by mobile and develop a mobile app to access the website
on mobile.
Marketing efforts- Company should be clear about the message they
want to convey to their end consumer.
Experiments- it is important to constantly come up with new ideas, test
and analyze them and make required changes to grab the opportunity
(Packes and Jorasch 2010).
Professional help- in initial stage of business, it is important to invest
in specialized skills such as digital marketing, web design and
development, conversion rate of optimization etc.
Methods of payments in online retail segment are
Credit card, debit card, smart card, E-money, EFT (Electronic Fund
Transfer), Google Wallet, PayPal etc
CONCLUSION
From the above study it is been considered that e-commerce has
positive influence on the business outcome of organization as it saves
time and cost of ordering, generating involve and managing customer
relation. Report has provided the information about the products and
services that is being offered by Amazon through online platform.
Moreover, report has discussed the security standards that have been
used for managing the legal and ethical process for e-commerce
business. At the end report has provided the information about the
current procedure and legislations of e-business.
REFERENCES

Books-
Barnes, S. and Hunt, B. eds., 2013. E-commerce and v-business.
Routledge.
Qin, Z., 2010. Introduction to E-commerce. Springer Science &
Business Media.
Journals-
Benlian, A., Titah, R. and Hess, T., 2012. Differential effects of provider
recommendations and consumer reviews in e-commerce transactions:
An experimental study. Journal of Management Information
Systems, 29(1), pp.237-272.
Cloud, A.E.C., 2011. Amazon web services. Retrieved November, 9,
p.2011.
Diacon, P.E. and Donici, A.N., 2011. E-commerce across European
Union.CES Working Papers, 3(3), pp.390-397.
Goldmanis, M., Hortasu, A., Syverson, C. and Emre, ., 2010. E
Commerce and the Market Structure of Retail Industries*. The
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Hennig-Thurau, T., Malthouse, E.C., Friege, C., Gensler, S., Lobschat,
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Johnson, M., 2010. Barriers to innovation adoption: a study of e-
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Osterwalder, A. and Pigneur, Y., 2013. Business model generation: a
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