How online technology is changing the Business Environment of UK high street.
Technology and social media have increased the power of consumers to levels never seen before. Online retailing appeals to consumers because it is convenient to browse 24/7; there is a wider range of products than can be viewed in any one store or indeed retail location. The famous Comet business have failed to seize the gap in the market for online retailing and unfortunately have gone bankrupt some the reason for this cause are that they focused more their stores and not their online business the spent too much money on their big warehouses not investing in the online business which is a key to for a business to bring in more profit.
Successful retailers trading on the internet have largely addressed early consumer concerns regarding personal/financial data security and efficiencies in the supply chain. In addition, products are usually cheaper online. According to Javelin Group, e-commerce accounted for nearly half of all retail sales growth in the UK between 2004 and 2010t hat total online spending almost trebled between 2004 and 2010.
How Woolworths respond to the closure of all its high street stores.
some of the online Woolworths similarities to the original Woolworths shops are they still provide the same goods that were sold in Woolworths shops clothing's ,toys, entertainment products for example toys, Ladybird clothing and the firm's iconic pick n' mix confectionery. the online business also try to make some of their products cheaper than other suppliers out there like how the original Woolworths shops used to.
Some off the differences the online business show in comparison to the original Woolworth shop are that the online business are able to store bigger products in the warehouses for the consumers to purchase online where as the original Woolworths shops would not be able physically be able to stock them in the stores.