Reveal the Fate and Future of the World Retail Business
Description: The progress of an online business impacts retail businesses. How is the condition of retail business in the world today? What are the tips for this business to survive? Find the answers here. When was the last time you bought an item online? Or conversely, when was the last time you bought an item at a retail store? Surfing in cyberspace to find products and goods you want to buy, has become common today compared to buying products through existing retail business networks. Lately, we find that the buying and selling process that is happening online has increased sharply. Along with technological developments, especially with the widespread use of the internet, customer behavior and shopping procedures have changed significantly. This of course had an impact on
Current Conditions of Ritel's Business
Patterns of online shopping that are increasingly ingrained in society have a less favorable impact on retail businesses. This is not only felt by domestic retailers, but also abroad globally.
Such public behavior adversely affects the retail business in general. As we know that recently, one of the leading retailers in the country, namely PT. Hero Tbk declared loss and was forced to close a number of his own outlets. Previously, many retail fashion brands had also been declared bankrupt and bankrupt. Retailers in the fashion world are even very well known in the world and have hundreds of outlets throughout the world. GAP, Banana Republic, Clarks, Lotus and most recently, Forever 21 is an example of a giant retailer who was forced to end his role in the business world because he was declared bankrupt or bankrupt.
What's wrong with the retail business? A good market strategy is needed so that the retail business can survive amid the onslaught of rampant online shopping. Their worldwide trademark has not been able to encourage offline sales, while online sales have not been sufficient to make the company survive. Another factor that makes competition in the retail business world becomes more severe because online retail business is not taxed. Business license for an offline retail business is very difficult and requires large costs; this also adds to the problem in this regard. To Keep Retail Business Survive There are many things that must be done by retail businesses in order to stay able to survive. Considering that people's purchasing power remains high, there is still a lot of hope to revive this one line of business.
Here are some things that retailers do to maintain their business:
- Adjust Market Demand The inability of retailers to see and read the market will have a negative impact on their business. For this reason, considering market demand and developing trends is a must. This opens up opportunities for retailers to fulfill market demands and keep their businesses running.
- Make Innovations and Appropriate Strategies Pampering customers with various facilities and facilities when shopping at a retail business that has been built is very important. A pleasant shopping experience and various conveniences offered, for example in a payment system, open up opportunities to retain customers for business continuity.
- Maximize Cell Phone Usage The current trend, where humans can not be separated from mobile phones can be utilized by retailers in maintaining their business. Customers use their cellphones for many things such as seeing the availability of goods, looking for discounts and discounts, and comparing prices.
Responding to this, retailers must be able to utilize the allure of mobile phones for their good. Provide existing human resources with knowledge of mobile technology. Use certain applications to facilitate customers who come to make transactions. Give various discounts and attractive promos for customers who transact via mobile phones are examples of what retailers can do.
The retail business world does look sluggish today, but there is still hope to be revived. Many things need to be improved and done so that the retail business can survive and compete with offline retailers.