Companies Need To Actively Follow Dynamic †Myassignmenthelp.Com

Question: Discuss About The Companies Need To Actively Follow Dynamic? Answer: Introduction Retailing has today reached a tipping point, no longer getting to avoid omnichannel shopping. The changing demographics and technologies have also permanently altered how consumers behave and the retailers have faced this in a completely unprecedented manner. Today, simply proactively managing store portfolios would not do companies need to actively follow a dynamic, advanced and data-centric outlook to build the operations store portfolio for ensuring continuing viability (Walsh 2016). Discussion E-commerce is growing, and the growth will continue. However, it does not imply that brick and mortar would die because of it, at least not in the near future. Brick and mortar retailers have knowledge and supply chain capabilities. What they lack is technological knowledge and understanding, which can be managed by organically by means of hiring people or by partaking in acquisitions (Agrawal 2017). Shoppers are always into wanting to touch, feel and experience the product they want to buy, before buying it. They might be using digital means for researching and narrowing down their choices, but when the matter comes to compensating and buying, they look forward to seeing it in real and making sure they are making the correct choice. The future of retail is situated at the juncture of brick and mortar and e-commerce. The two shopping experience forms must be seamlessly integrated and must complement each other. The main objective for each of these shopping experiences is the same - making the method of buying products for customers as stress-free and exciting as possible. Today, as the modern shoppers have gained admittance to new technologies and changed what they wish to buy, both e-commerce and brick and mortars companies have had to alter their approached and adapt (Popomaronis 2017). It is difficult to present to customers a convincing and sticky brand experience online, especially if the products on display are non-utility items similar to accessories, apparels and home goods. In this process, many businesses have already lost money online and still offline they have been highly profitable. This tendency is getting compelled by a wish to exploit the growth in the experience economy buyers are selecting to purchase experience over products. E-commerce might be expedient, but consumers look for surprise and extemporaneity while shopping, which is only available in a brick and mortar environment. Among convenience and smart shopping, there exists a positive tension, which exist with the knowledge that there would be a pragmatic element too. At the end of the day, it is all about the comprehension of the different needs and preferences of the consumers and meeting them by means of exciting and quirky ways, not only with the help of online of offline experience, but with the connection that exists between them all (Shearman 2016). Conclusion Online shopping is trending upward and some sections of retail feel the influence more than others, like apparel and consumer goods. Online sales still today do not alone represent the whole of retail spending the need and demand for physical stores still exist and its role inside the omnichannel world still remains critical. References Agrawal, A. 2017.Does eCommerce Success Mean Physical Stores Will Disappear in the Future?. [online] HuffPost. Available at: https://www.huffingtonpost.com/aj-agrawal/does-ecommerce-success-me_b_8904146.html [Accessed 10 Sep. 2017]. Popomaronis, T. 2017.Survival In Today's Retail Environment Means Merging Physical And Digital. [online] Forbes.com. Available at: https://www.forbes.com/sites/tompopomaronis/2017/06/30/survival-in-todays-retail-management-means-merging-physical-and-digital/#45843ba16e9c [Accessed 10 Sep. 2017]. Shearman, S. 2016.Back to bricks and mortar: how e-commerce has embraced the real world. [online] the Guardian. Available at: https://www.theguardian.com/media-network/2016/jul/07/bricks-and-mortar-ecommerce-retail-digital [Accessed 10 Sep. 2017]. Walsh, M. 2016.The future of e-commerce: bricks and mortar. [online] the Guardian. Available at: https://www.theguardian.com/business/2016/jan/30/future-of-e-commerce-bricks-and-mortar [Accessed 10 Sep. 2017].