3.1 The rise of electronic commerce
Traditional retail shops and brick-and-mortar businesses globally have been hit hard with the rise of electronic commerce (or e-commerce). The high penetration of technology has increased consumers’ consumption on online platforms thus contributing to the rapid increase of e-commerce. Takashimaya, being a traditional retailer, should consider this trend as its weakness is high dependence on its domestic market, Japan. Furthermore, it also faces intense competition in its domestic market, Japan and in Singapore too (MarketLine Advantage, Feb 2015). To minimize the threats faced by the company and to work on its weaknesses, Takashimaya can capitalize on this trend to do so. Besides that, Takashimaya, one of …show more content…
Retailers can now see the potential to generate more revenue by having more channels for consumers to shop but also by the combination of physical business with digital platform (A.T. Kearney, 2014). To provide consumers with an overall seamless and enhanced shopping experience, Takashimaya should consider this trend. In comparison to its competitors in their domestic market, Japan, Takashimaya is much smaller in size in terms of revenue due to its small scale of operations (MarketLine Advantage, Feb. 2015). This could prove to be disadvantageous for Takashimaya especially in the fiercely competitive retail market in Japan and even in …show more content…
The online store can provide multiple language choices for global customers as well as a user-friendly interface that allows customers to navigate through the online store easily. A user-friendly interface would mean the presence of clear icons and links to direct consumers to their preferred range of products efficiently and large, high-quality photographs of the products in many different angles to give customers a better visualization of the product itself (McKinsey & Company, 2013). Also, the homepage of the online store should have a prominent search tool for consumers to search for the specific items that they want without delay. Through the online store, stronger brand loyalty can be established as mentioned by A.T. Kearney (2014) that with the increase in channel opportunities provided to consumers, the more channels a consumer will shop. This will then lead to both an increase in sales revenue and customer loyalty to Takashimaya. Furthermore, this is in sync with the company’s vision of “never changing, always new” (Takashimaya Company, Limited, 2008) and its focus on improving its business in the next few
Traditional retail shops and brick-and-mortar businesses globally have been hit hard with the rise of electronic commerce (or e-commerce). The high penetration of technology has increased consumers’ consumption on online platforms thus contributing to the rapid increase of e-commerce. Takashimaya, being a traditional retailer, should consider this trend as its weakness is high dependence on its domestic market, Japan. Furthermore, it also faces intense competition in its domestic market, Japan and in Singapore too (MarketLine Advantage, Feb 2015). To minimize the threats faced by the company and to work on its weaknesses, Takashimaya can capitalize on this trend to do so. Besides that, Takashimaya, one of …show more content…
Retailers can now see the potential to generate more revenue by having more channels for consumers to shop but also by the combination of physical business with digital platform (A.T. Kearney, 2014). To provide consumers with an overall seamless and enhanced shopping experience, Takashimaya should consider this trend. In comparison to its competitors in their domestic market, Japan, Takashimaya is much smaller in size in terms of revenue due to its small scale of operations (MarketLine Advantage, Feb. 2015). This could prove to be disadvantageous for Takashimaya especially in the fiercely competitive retail market in Japan and even in …show more content…
The online store can provide multiple language choices for global customers as well as a user-friendly interface that allows customers to navigate through the online store easily. A user-friendly interface would mean the presence of clear icons and links to direct consumers to their preferred range of products efficiently and large, high-quality photographs of the products in many different angles to give customers a better visualization of the product itself (McKinsey & Company, 2013). Also, the homepage of the online store should have a prominent search tool for consumers to search for the specific items that they want without delay. Through the online store, stronger brand loyalty can be established as mentioned by A.T. Kearney (2014) that with the increase in channel opportunities provided to consumers, the more channels a consumer will shop. This will then lead to both an increase in sales revenue and customer loyalty to Takashimaya. Furthermore, this is in sync with the company’s vision of “never changing, always new” (Takashimaya Company, Limited, 2008) and its focus on improving its business in the next few