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7 Components must for Internet Retailing

Internet Retailing is propelled by Innovation, Technology and Business Acumen. Any of the component disconnected could lead to failure in Internet Retailing venture. In internet retailing one has to achieve quantum growth with proper planning and due diligence

Here I have listed down some of the 7 component must for Internet Retailing

  1. Disruptive Innovation
    Does your store have anything unique to offer that WOW the customers. Things such as Quick Checkout through QR Code Advertisement. No one is willing to buy online unless they are attracted by convenience and customer satisfaction. Even though your loyal customers would like to buy offline which is costly for any business unless some convenience is created for online shopping.
  2. Sense of Security
    Customer are quite concern about their financial, personal, behavioral and other information. The would like to see some kind of assurance that all their information are taken care of through best practices and according to law.
  3. Staying connected
    Social Media is the most recommended tool to stay connected with the customers. Apparently, besides social media there are other tools like email marketing, instore promotion and eCoupon which helps businesses to stay connected with the consumer and attract them to come to shop online or offline more frequently and remain loyal to the brand. Omni Channel is another strategy to stay connected.
  4. Business Accreditation
    Its easy for big brands to show its accreditation and affiliation through testimonials, press release, unmatched customer support and more. It is challenging to develop accreditation among the customers. This could be done through testimonial, press release, corporate social responsibility and co-branding. This way business can float high in online street.
  5. Branding
    Many businesses lapse an important aspect of Internet Retailing. The digital marketing efforts can bring customer once but, your banding can keep the customers for years to come. Branding covers creative aspects, service and support, customer experience, product innovation and much more.
  6. Competitive
    Businesses got to be competitive in terms of merchandising, logistics, customer services and more to stay competitive in market. One can’t sell expensive product and deliver product late. We leave in era where “Might is Right”
  7. Discover new market and product
    Internet Retailer has an option to sell their products beyond the conventional market. They can also sell new product line which are relevant to their product for example if one is selling laptop, they may think of selling its accessories like bag, cable, etc.

The above 7 components seems to be too stressful but it guarantees one’s sustainability and quantum growth in agile economy.

Amin Lalani
Amin Lalani
Amin Lalani is M.Phil in Internet Retailing with 10 years of experience in Internet Retailing arena along with enterprise experience in setting up SAGE eCommerce and is SAP MM certified. He been a faculty, mentor and SME Internet Retail experts since many years

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