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The Epicenter. Jen Sebolka, Jenn Dalia, Pam Dulny, Justin Tortorella, Dylan Kautz. What is E-Commerce. Definitions of Commerce: Sexual Intercourse….WHAT! Social Intercourse: Interchange of Ideas, Opinions or Sentiments Exchange of Goods and Services For Money Include Buyers Sellers

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The epicenter

The Epicenter

Jen Sebolka, Jenn Dalia, Pam Dulny, Justin Tortorella, Dylan Kautz


What is e commerce
What is E-Commerce

Definitions of Commerce:

Sexual Intercourse….WHAT!

Social Intercourse: Interchange of Ideas, Opinions or Sentiments

Exchange of Goods and Services For Money

Include

Buyers

Sellers

Producers


History of e commerce
History of E-Commerce

  • 1970’s- Commercial Transactions

    • Electronic Data Interchange

    • Electronic Funds Transfer

  • 1980’s- Growing Acceptance

    • Credit Cards, ATMs

    • Telephone Banking

  • 1990’s- ERP, Data mining, Data Warehousing

    • World Wide Web Introduced.

  • 2000’s- Dot Com Era Bust


  • E tailers
    E-Tailers

    • Def.- Sell retail goods on the internet.

      • Majority is B2C transactions.

    • 1997-Dell reports multi-million dollar orders

      • Auto-by-Tel sells millionth car over the web.

    • 1998-2000- Major boom in new E-tailers.

      • Projected revenues for e-tailers in billions of dollars.

    • 2000- large number of dot.com retailers disappear in economic shakeout.

      • ”Brick and Mortar” companies add niche markets and add e-commerce capabilities.

    • $259 billion in online sales expected in 2007.


    What attracts people
    What Attracts People?

    Lower Costs

    Order Taking

    Customer Service

    Larger Purchases Per Transaction

    Integration Into The Business Cycle

    People Can Shop In Different Ways

    Larger Catalogs

    Improved Customer Interactions


    Characteristics of e commerce
    Characteristics of E- Commerce

    • Easy:

      • Making the Website

      • Taking Orders

      • Accepting Payment

    • Difficult:

      • Attracting Customers

      • Returning Customers

      • Competition

      • Getting People to Buy

      • Integrating Data


    Why the change
    Why the change?

    People Prefer Tangible Feeling

    Sizes

    How It Looks on Them

    Don’t Have to Wait

    No Shipping and Handling

    Social Entertainment Aspects Of Mall

    Survey


    Survey

    Gender Male: Female:

    Shop Online

    How Much Do You Shop Online:

    Not At All:

    Less Than 50 Percent:

    More Than 50 Percent:

    Best Aspect:

    Larger Variety:

    Convenience, Ease and Accessibility:

    Cheaper:

    No Sales People:

    Fast:

    What Do You Prefer:

    Retail:

    Online:

    Do You Trust Online Shopping?

    Yes:

    Somewhat:

    No:

    What Do You Like About Retail?

    Tangible Aspect:

    No Shipping and Handling:

    Fast:

    Experience:


    Survey

    Gender Male: 59% Female: 41%

    Shop Online92%

    How Much Do You Shop Online:

    Not At All: 6%

    Less Than 50 Percent: 82%

    More Than 50 Percent: 12%

    Best Aspect:

    Larger Variety: 15%

    Convenience, Ease and Accessibility: 67%

    Cheaper: 8%

    No Sales People: 2%

    Fast: 8%

    What Do You Prefer:

    Retail: 77%

    Online: 13%

    Do You Trust Online Shopping?

    Yes: 60%

    Somewhat: 35%

    No: 5%

    What Do You Like About Retail?

    Tangible Aspect: 85%

    No Shipping and Handling: 5%

    Fast: 8%

    Experience: 2%


    What is an epicenter
    What is an Epicenter?

    • Showroom for internet and catalog retailers to sell their products

    • Convergence of shopping channels

    • Combines the Internet and brick-and-mortar retail

    • Developed by Sheldon Gordon

    • Easier and cheaper for catalog and online merchants to move merchandise at the mall

    • Set to open in mid-2008 in Lord & Taylor store at Christiana Mall


    What is an epicenter1
    What is an Epicenter?

    • 181,000 square foot space

    • 60-70 retailers

    • Each retailer will take 200-7,000 square feet

    • “Living catalogs”- can touch and feel

      merchandise

    • Purchase through kiosk or SpreeGo



    Spreego
    SpreeGo

    Handheld device

    Scan driver’s license

    Point & Click  Displays product, pricing and ordering information on the item on touch screen

    Can be added to digital shopping basket (similar to online shopping)


    Spreego1
    SpreeGo

    • Free shipping to the store

    • Shipped to customer’s house

    • Immediate pick-up

      • Done in one click

      • Eliminates lines


    Why newark de
    Why Newark, DE?

    Pre-built available space

    Currently only using 2 out of 4 anchor stores

    Christiana is one of the most productive malls in U.S.

    Legal benefits

    Tax benefits


    Why newark de1
    Why Newark, DE?

    Closely represents US demographics


    Benefits to the retailer
    Benefits to the Retailer

    Cheaper leasing agreements

    Limited inventory in store, reduces holding costs

    Increased mall traffic

    Increased sales for online retailers


    Benefits to consumers
    Benefits to Consumers

    • Browse wide selection of catalog/internet brands

      • No shipping fees

      • Sensory shopping

      • experience

      • Fewer lines

    • Better customer service


    Negative aspects
    Negative Aspects

    Experimental

    Changes traditional shopping experience for both online and retail

    Increased competition


    Projections for the future
    Projections for the Future

    Hopes to open approximately 100 stores in the coming years if successful

    How to ensure success:

    Must research proper locations for centers

    Business Continuity Planning becomes important- safety net if fails

    Give away as much information to customer as possible


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