E-business to business Strategies

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1.
Referring to the FT article "It's Too Early For E-Business To Drop Its "E", it is sensible to drop the "e" from the term "e-business". The argument is that e-business has become an integral part of the shopping experience of the customer. The retail business is evolving and the internet has become an important tool for making a buying decision. Currently, the product is a combination of an offering both on the in-store shelf and on the virtual e-business shelf. Several customers who visit brick and mortar stores first see the product on the e-commerce site of the store, check its features and compare its price before they step into the store. Further, shopping for routine items such as online grocery pick-up, and drone deliveries are changing the way goods are purchased. Also, the retailer website or the mobile app provides information that allows the customer to think before making the purchase decision.

From a different perspective, it is important to combine e-business strategies with brick and mortar strategies for effective retailing. For this reason, the e-business strategies must combine with the brick and mortar strategy to develop a composite strategy. For example, virtual reality is being used by retailers to enable the e-business customer to experience what it would feel being in the store (1). The customer can experience the products in virtual reality and make purchases. Alternatively, a customer can check out the product on the mobile phone, and only if he is interested in the product he can walk into the store and buy it.

One argument why managers should drop the "e" from the "e-business" is that dropping the e combines the benefits of both e-business and brick and mortar business for the consumer. The e-business brings the consumer the benefits of faster buying, easier buying, and 24/7 availability. At the same time, the brick and mortar store brings trust, legitimacy, and face to face engagement with the seller. This combination of benefits is possible only if thee is dropped (2). The implication is that managers should not single-mindedly pursue the goal of increasing online sales but should view their online efforts as vital and important supports to brick and mortar sales. In this context, the buying model proposed is that customers view an item online and then walk into the store to see it, feel it, and make a purchase. However, a different model is that a customer walks into the store, sees, feels, and experiences a product, and later purchases the product from the store's website. In the case of both models, the manager must focus on the combination of e-business and in-store sales.

Specifically, the managers should have a feature-rich store locator on their websites that allows buyers to choose stores based on factors important to them. The store shoppers must be able to check if an item is in-stock at a store, the customer must be able to purchase online and pick up the package from the store, and the names/numbers/classification consistent from the website to the store. Also, the website must have local store pages that must have shopping hours, special discounts, and special events. The retail managers should understand that online sales are a part of cross-channel sales, a website visitor must be converted to a store visitor, and new customer loyalty programs must reward customers based on online plus off-line sales.
One argument why managers should drop the "e" from the "e-business" is that focusing purely on online sales can detract from promoting cross-channel sales, customers should be encouraged to use their mobile application in the store, and at the same time should be provided digital coupons that can be redeemable in-stores. Mobile and social media marketing should be leveraged to increase both online and in-store sales. Customers may use virtual reality on their mobile apps in-store to view different areas of stores or even in other stores of the retailer.

During the ...