CompanyChapter -1 Introduction
1.1 Overview
In the present competitive business era, e-commerce is becoming one of the fastest-growing branches of trading through the internet. It is an effective tool that is applied by the firms with an aim to increase the sales of their products and services. Before the development of e-commerce, the process of marketing was sales force-driven. With its emergence it, the overall process of trading has been changed. Thus, it can be stated as the process of carrying out business transactions through the internet. E-commerce has existed for 40 years, which came into existence from the transmission of messages electronically (Goldmanis, Hortaçsu, Syverson and Emre, 2010). E-commerce plays a significant role in advertising and distributing products and services to distinct locations. As internet technology gained popularity—seen in over 42 million households with broadband in 2005—the trend of online shopping surged. For students exploring this evolving topic, an assignment helper can provide structured guidance and support.
10 years ago, several retail firms did not believe that customers would ever make purchases of fashion online. However, it has turned out to be wrong. Today, high street retailers are trying to determine their percentage of sales in case they sell through the means of e-commerce. The sales of online apparel continue to capture a higher market share. In the present scenario, retailers are trying to enhance their scale of e-commerce operations (E- E-E-commerce is changing the fashion industry- it's time to catch up, 2016). This is done by investing in online sales platforms that display the products and convert the prospects into buyers in an effective manner. E-commerce has gained success in the category of apparel as a reason of easy and free returns and innovative tools of visualisation that result in increasing sales in the fashion industry. Thus, it has become difficult to measure the scope of e-commerce in market marketplace as it provides a greater advantage over brick-and-mortar stores and mail-order catalogues.
1.2 Rationale for the study
The purpose for which the present investigation is carried out is related to the analysis of the impact of e-commerce on individuals' habits and spending in the fashion industry. The research will be carried out in the field of online business as it is becoming important in the present competitive era.
What is the research issue?
The issue in the present research is about the changing habits of customers that have a greater impact on how the firm operates. Further, with the emergence of e-commerce, there is a decline in the sales of outlets in the fashion industry. Thus, this requires them to adopt suitable strategies of carrying out business transactions so that they can gain a competitive advantage in the long run.
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It is an issue due to the reason that today, individuals are located at distinct and remote places. Moreover, they possess busy work schedules. Thus, this in turn has a huge impact on the buying habits of the customers. Today, individuals are unable to devote their time to buying products and services of the fashion industry from boutiques or outlets (Pahnila and Warsta, 2010). Further, the inclination towards purchasing online is increasing significantly as it offers many benefits to the customers. With this, there is a decline in the sales and profitability of businesses that are not operating online. Therefore, it affects their survival in the market for a long period.
Why is it an issue now?
This has become an issue nowadays because there is greater competition among organisations which are operating in the fashion industry. These businesses are increasing their sales by carrying out trade over the internet (Crespo and del Bosque, 2010). This leads to the accomplishment of the consumer's demand with greater ease and minimal efforts. Further, it also facilitates in benefiting the individuals who are residing at distinct locations.
What could this research shed light on?
The present investigation sheds light on the role of e-commerce in bringing changes in the habits and spending of consumers. Further, the thesis would demonstrate the advantages of online business for customers. Along with this, it also demonstrates the major drivers for e-commerce. Lastly, it sheds light on the trends that have emerged in individual habits and spending over the period of five years.
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1.3 Research Aim and Objectives
The present dissertation aims to analyse the impact of E-commerce on individual habits and spending in the fashion industry.
Research Objectives
- To explore the concept of e-commerce and its benefits for customers.
- To assess the key drivers for e-commerce.
- To identify the trends in individual habits and spending over five years.
- To investigate the impact of e-commerce that affects the individual habits and their spending power.
1.4 Research questions
- How is e-commerce benefiting the customers of the fashion industry?
- What are the key drivers for e-commerce?
- How does e-commerce influence individual habits and spending in the fashion industry?
- What are the trends prevailing in individual habits and spending over five years?
1.5 Potential significance
The present study is suitable for carrying out an in-depth assessment of the impact of e-commerce on individual habits and spending in the fashion industry. Moreover, it helps in gaining knowledge regarding the benefits of e-commerce for consumers. The potential significance of the present research has been presented as such. The present thesis possesses greater significance for the scholars and researchers who have an interest in investigating a similar subject that is related to assessing the impact of e-commerce in the fashion industry. In addition to this, the present research would be of greater importance for the academicians who are conducting Ph.D. This is due to the reason that the present investigation provides an adequate amount of knowledge about e-commerce and how it influences individual habits and their spending power. For students exploring this area, seeking business assignment help online can provide further clarity and academic support.
A present thesis can prove to be significant for the e-commerce industry as it would assist in gaining in-depth knowledge to conduct the transactions of business with minimal effort. Moreover, it assists them in developing an understanding of the benefits of using e-commerce while carrying out the trade. Another major significance of the present research is for the thinkers and scholars (Ha and Stoel, 2012). This is because the investigation represents innovative information about the methods that are being applied while the study is being carried out. Such can be helpful for thinkers in developing a better understanding of the methodologies in an effective manner.
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References
- Ha, S. and Stoel, L., 2012. Online apparel retailing: roles of e-shopping quality and experiential e-shopping motives. Journal of Service Management.
- Crespo, A. H. and del Bosque, I. R., 2010. The influence of the commercial features of the Internet on the adoption of e-commerce by consumers.Electronic Commerce Research and Applications.
- Goldmanis, M., Hortaçsu, A., Syverson, C. and Emre, Ö., 2010. ECommerce and the Market Structure of Retail Industries*. The Economic Journal.
- Pahnila, S. and Warsta, J., 2010. Online shopping viewed from a habit and value perspective. Behaviour & Information Technology
- E- commerce is changing the fashion industry- it's time to catch up. 2016. [Online]. Available through: <http://www.theguardian.com/small-business-network/2015/feb/06/how-mobile-ecommerce-changing-fashion-industry>. [Accessed on 26th February 2016].
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