Online retailing.

Question 1

What is online retailing?

Answer 1

Selling products via the internet through apps or websites.

Question 2

What has the growth of online retail done to the highstreet?

Answer 2

Due to the added convenience of online retail, the highstreets has seen less customers. Many have been forced to close where others have moved online to compete.

Question 3

What are some benefits for businesses and consumers of online retail.

Answer 3

• Less overheads allows them to cut costs and be more competitve.
• More convenient for customers where they can order at more times and from more places, increasing the businesses target audience and sales theoretically.
• Consumers can compare costs easily.

Question 4

Drawbacks

Answer 4

• Due to ease of cost comparisons, businesses face more competition and may be forced into price wars. Retailers try and enhance their website or save details to incentivise customers to shop with them.
• Consumers may like to see what they are buy in person so may hesitate buying online. Can use free returns or staff chatting options.
• Businesses need to protect data, this is expensive but not doing this sufficiently would be detrimental