Questions with 100% Correct
Answers | Latest Update
non-store retailers - 🧠 ANSWER ✔✔-distributes products to consumers
through means other than a traditional brick-and-mortar store front
-In the last 20+ years non store retailing has seen tremendous growth
-many were formerly mail-order only
-convenience of delivery
,-catalogs have become more & more expensive to produce and reach
more people via web!
Examples of non retailers? - 🧠 ANSWER ✔✔Lands End and J. Crew
E-commerce - 🧠 ANSWER ✔✔-is the term often used to describe online
retailing via the Internet
-internet allows for easy access to Global Markets
-Not necessary to have an actual store nor spend money on mail catalogs
to reach customers
-It is to shop ANYTIME - day or night or in any time zone
Examples of E-commerce - 🧠 ANSWER ✔✔Amazon USPS
Some issues facing E-commerce - 🧠 ANSWER ✔✔-cyber & data security
-online identity verification
-targeting the best customer for YourStore, Brand, etc.
-customer experience
-customer loyalty
-converting shoppers into paying customers
, -competition & competitor analysis
-price and shopping
-product return & refund policies
-choosing best technology for You & your customers
It cost 5X more to acquire... - 🧠 ANSWER ✔✔a new customer then it does
to retain an old customer
Television Shopping - 🧠 ANSWER ✔✔-includes shopping networks and
infomercials to sell merchandise
-only about 20% sales are apparel ----- still that is millions and millions of
dollars
examples of TV shopping - 🧠 ANSWER ✔✔QVC and HSN
Issues Facing Television Shopping - 🧠 ANSWER ✔✔-shrinking audience -
non- covid
-struggled during Covid because it is thought of slashed advertising
budgets
-last year, QVC reported that 86% of sales came from repeat shoppers
-hasn't really updated since inception
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