Research Abstract

Online shopping has forever changed the way that retail works. Shoppers no longer rely on a salesperson to show them the best products, many have done research and know what they are looking for before they even walk into the store. Through new technology such as interactive videos, and 360 degree views of products, the consumer can know just as much as the retailer. Millennials aged 18-34 are the key demographic for ecommerce with 78% of sales in 2014 being from consumers 15 or older. According to Devora Rogers, shopping is all about decision making. Most people use 10.4 resources before making a purchase.  We all have a specific “shopper DNA” in which companies can use to track shoppers online. The “little line of code” is what is sent to the companies and contains data of any purchases made and discounts used. Based on “shopper DNA” and the “little line of code”, Amazon has quickly risen to top of the charts in customer service. How can that be that a company that seems to run all on its own is number one for customer service? Amazon is able to see what is bought, make associations with what others buy, then make accurate recommendations based on the needs of the consumer.  In 2012, Amazon was able to increase sales by 27.06% because they added features like Amazon Prime, inventory availability, and the marketplace of vendors. Knowing what their customers want has greatly benefited the company. The future of retail will be knowing what customers want and being able to provide those products in such a way that keeps up with the generation that needs them.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s