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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

slide8
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:

slide9
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

slide22
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