How Has the Growth of Ecommerce Affected the Retail Sector in the UK Research Paper

How Has the Growth of Ecommerce Affected the Retail Sector in the UK in Over the Last 10 Years - Research Paper Example This paper illustrates that in the UK, online retailing is outperforming high street with several structural changes in progress with the internet providing a powerful tool to connect customer data on preferences and to facilitate and react to customers’ requests and feedbacks, using it to form a competitive advantage. Data was gathered through the use of primary and secondary sources from several authors and journals. Findings have been carefully scrutinized and analyzed.The research reveals that retail sector in the UK has undergone tremendous development and retailers have to apply and adopt online technology to be able to survive in that industry against their competitors. E-commerce is the buying and selling of goods or service by use of electronic methods such as the Internet and other computer networks. Almost two decades, to when this fast-paced electronic business atmosphere was just starting to develop, its eventual achievement must have looked far less convinced. Ov er the last decade, e-commerce has altered the look of the retail zone, helping corporations to enlarge into new markets, connect more efficiently with consumers, decrease costs and drive revenue growth in the future. To thrive now, it is not just a question of selling online, but taking a tactical view of your online presence to make certain it delivers the utmost possible worth to your business. Fortunately, a new generation of e-commerce technologies, powered by web 2.0 techniques, is now heralding a new period for both businesses and consumers in a similar way. It is now extensively known that the Internet’s supremacy range and interactivity supplies retailers with the possibility to change their customers’ shopping familiarity. According to Levenburg, e-commerce helps traders and suppliers to build up their own competitive positions. The Internet’s capabilities to provide information, ease two-way communication with customers, gather market research data, p romote goods and services and eventually to support the online ordering of goods, provide retailers with a tremendously rich and bendable new channel. In so doing, the Internet gives retailers an instrument for expansion of target markets, improving customer interactions, extending product lines, improving price efficiency, enhancing customer relationships and delivering modified bids.