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The Epicenter

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

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  1. The Epicenter Jen Sebolka, Jenn Dalia, Pam Dulny, Justin Tortorella, Dylan Kautz

  2. 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

  3. 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

  4. 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.

  5. 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

  6. Characteristics of E- Commerce • Easy: • Making the Website • Taking Orders • Accepting Payment • Difficult: • Attracting Customers • Returning Customers • Competition • Getting People to Buy • Integrating Data

  7. 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

  8. 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:

  9. 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%

  10. 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

  11. 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

  12. The Epicenter Collection

  13. 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)

  14. SpreeGo • Free shipping to the store • Shipped to customer’s house • Immediate pick-up • Done in one click • Eliminates lines

  15. 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

  16. Why Newark, DE? Closely represents US demographics

  17. Benefits to the Retailer Cheaper leasing agreements Limited inventory in store, reduces holding costs Increased mall traffic Increased sales for online retailers

  18. Benefits to Consumers • Browse wide selection of catalog/internet brands • No shipping fees • Sensory shopping • experience • Fewer lines • Better customer service

  19. Negative Aspects Experimental Changes traditional shopping experience for both online and retail Increased competition

  20. 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

  21. IF YOU DON'T LIKE THIS WE INVENTED THE I-ROUDI

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