Paper: E-Commerce and its effect on Retail

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In my New Technology 2016 course at Reykjavik University I got 84 research papers. These papers can be about any technology. One of the paper is about the disruption retail is facing due to the Internet and smartphones. We see news of stores being closed and rise of delivery services. Clearly something in changing. In fact, any retailer that is not visible online is putting their business at risk. Some 81% of purchases originate as on the Internet, even if the item is sold in a store.

Þorkell Viktor Þorsteinsson did research on how e-commerce is changing retail. His paper is titled E-Commerce and its effect on retail.

His conclusion is this:

My conclusion is that traditional retail stores are not disrupting in the near future. What is changing is how we approach the product. Instead of going to the store we can order products and groceries online and get it shipped to our door. Retailers need to be aware of how the e-commerce is changing how we buy our products and follow this technology trend so it won’t fall under and get disrupted. Retailers need to put much more effort to make the in store experience unforgettable so the customer wants to come back. Retail isn’t dying, it’s just transforming.

Adding to this, when customers get used to their products within the 30-60 minutes, like a pizza, this transformation might seed up exponentially.

Download the paper: E-Commerce and its effect on retail

 

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