The modern concept of shopping is internet retailing or online retailing. As one of the market trends, online retailing has been widely used in the retail industry and growth is increasing day by day in today’s scenario. Online retailing eliminates the need to maintain luxurious and fancy showrooms. Instead, what attract customer attention to online stores are the “great deals” and “best prices”. The retailer’s website acts as a platform for interaction between the online retailers and the buyer. The biggest benefit of online retailing compared to other retail formats is the immense number of alternatives that are available to customers.
Currently online retailing is present in many sectors like electronics, apparel, mobile phones, groceries, tourism. The growth of the online retailing market is determined by the need to save time by the consumer. Online retailing can be defined as the sale of goods or services via an internet or electronic channel. Virtual business is a modular structure of several individual business firms associated together via online technology. The individual firms building up the virtual business are networked, which enable sharing of cost, skillset, and unlimited access to various segments of the dynamic market. An individual business firm contributes only Its core competencies. The value of a virtual business is that they have the flexibility required to grab new opportunities and be competitive in a complex market. The major benefit of online retailing to customers is they need not follow the fixed store hours. E-shopping extended the geographic reach because consumers can purchase any product anytime at everywhere. Online stores enable customers to purchase goods 24X7. Online retail stores offer clients the simplicity of comparison while selecting the products and empower them to rapidly get to the products. To be successful in the online business environment, a high-quality relationship is essential between the customer and the online retailers, because it is very easy to switch among many online retailers that are available with just a single click.
Jun et.al., (2004) recommended that online retailers should adopt the e-CRM (Electronic Customer Relationship Management). Despite the challenges, online retailers are increasingly using the Internet because it has the power to reach many consumers worldwide. Along with information about a company and its products, buyers can also have healthier access to various product reviews and rating systems that are available online. The use of internet tools to search the price and comparison provides an added benefit in consumers’ choice, another advantage is they can purchase their desired products at the lowest price available in the competitive online market. Fang et.al., (2013) outlined that other buyer’s reviews have the power to influence potential buyer purchase intention in an online shopping context. online retailers always try to ensure the greater availability of information about products and services. It is very easy for e-customer to make shopping comparisons and evaluate alternatives. The significance for online retailers to have a website is that it is informational and transactional in nature. The online business model allows companies to improve communication within the supply chain and expand the service offerings to customer satisfaction, thus providing chances for competitive differentiation. The web-based business has become a significant shopping initiative. Companies have become more strategic about their operations witnessing a spiky rise in online retailing activity recently worldwide.
For Citing this Article use:
Sastry.T, D. S. (2017). Consumer Perception about the E_Satisfsaction Development Process with Reference to Online Retail Service Quality.