E-Tailing

During those days people tend to shop for goods traditionally from one shop to another. However due to the advancement in technology selling and buying of goods and services can be done over the internet by just a simple click. Those who conduct electronic business online are known as electronic tailers. Electronic markets are the institution that allocates all the resources needed by the demanding parties. Trading over the internet are know to be free trading whereby there is no external planning, selection and decision are made freely, and offers are evaluate based on the individual needs. Furthermore electronic market can be seen as form that connects two substantial infrastructures of our information technology. This mature telemetric form has realized the electronic market whereby they contain supply and demand in the form of virtual information objects which are available equally for seller and buyer all over the world. Furthermore, an electronic market also provides affordable services over the internet. Some of these services include product rating (from magazines test reports or rating agencies), interactive product demonstration (software demonstration program), ordering products from an electronic catalogs and many more.

There are five out of eleven most important electronic market models in retailing. The first model is E-shop. This model mainly focuses on promoting the company goods or services and also the possibly to order and pay, electronically also traditionally. Furthermore there are several benefits provided such as lower prices offered, better information, convenience of selecting, buying and delivering and 24 hours availability. The second model is E-procurement. This model is applied by big company that provide wider choices for supplier that provide better quality of goods, lower cost, and many more. Third is E-auction whereby auction is done on the internet accompanied by multimedia presentation of the goods. Furthermore, it also benefits the supplier and buyers whereby it increases efficiency since no physical movement of goods is needed until the deal is establish. Fourth is E-mall. E-mall is a collection of e-shops with well know brand. Normally it is enriched with guaranteed payment method such as www.emb.ch that gives entry to e-shops. Moreover e-malls reduce complexity and cost to be on the web with sophisticated hosting facilities such as additional traffic generated from other e-malls. The last but not least is third party market place that is suitable for companies that wish to leave the Web marketing. This model works when the third party has something in common and offers at least a user interface to the supplier catalogues such as additional features like branding, payment, logistic and many more.

The internet does not only being used to trade online but also to provide specific services such as the online travel. The online travel provide satisfaction to their customers whereby they can book their ticket online without visiting the travels company and also book hotel rooms in advance. The internet service has made many of the customers to be independent whereby they can take greater control over their traveling plans and also compare prices to evaluate which travels company is offering the best price. For example Air Asia is providing these online services in their specially created website. The internet has left a great impact on the travel industry since the travel industry has to change the way they do business from brick and mortar to online business model. By using the internet the travel industry is providing a new service called the 'dynamic packaging' where consumers put together their own holiday packages by purchasing their flight, hotel, or car rentals separately. In conclusion the internet has change the way business is carried out from traditional to modern way of doing business. However the traditional way is still important as certain consumer prefer face to face meeting before any decision or buying or selling is made.

References:

http://www.electronicmarkets.org/issues/volume-5/volume-5-issue-1/v5n1_schmid0.pdf
http://www.electronicmarkets.org/issues/volume-8/volume-8-issue-2/businessmodels0.pdf
http://www.statcan.gc.ca/pub/63-018-x/2006001/4072207-eng.htm