With the advent of online auctions, web commerce and shopping over the air, has the local shops lose their appeal to it’s customers? In this episode, David and David talk about new strategies of selling , harnessing the internet versus the physical shops.
Has the world wide web shrunk the market for local trade? Or has it opened more venues of selling for others without having to confine in their spaces? Join in this interesting discussion that affects not just business people alike, but all consumers. And yes, that is all of us.
In this Podcast
01:08 Greetings from Paradise Hobart and Paradise North
01:42 Paradise Tasmania does exist
02:13 For today’s topic: Is online killing the retail?
02:26 It is a controversial topic not just in business but even for many people
02:46 It may have changed the shopping habit because of the technology
03:13 The nature of the internet in business may have positive or negative effect to small businesses all around the globe
03:24 The average Australians spend AUD 285 a week shopping online
03:50 The acceleration of change may have been daunting for other people
04:35 The ones who did no harness the technology might be the ones being left behind
04:38 Apple has been the pioneer of this rapid change yet they still do have physical stores in specific locations
05:23 Inside, they don’t have racks of displays but took the products out for the customers to play with
05:33 The difference, you can make an appointment to speak with an expert about the devices
06:08 In some train stations of other countries, you can scan items for products to be delivered to your home
07:00 Is width of stick and depth stock seems important to you?
07:06 Width of stock is the variety of the same products that you have
07:16 Depth of stock is the quantity of stocks you have
07:25 You may have a large depth of stock and have a warehouse of your products to support large orders
07:45 But you may have a wide width of stock available online
08:07 How do your customers want to purchase?
08:58 Ask what are the beneficial to your customers and to your business?
09:06 The Mercedes Benz dealer in Paris has a different depot compare to the one in Hobart where there are stocks readily available
10:14 Similarly, Apple create a physically interactive store experience
11:26 It generates the desire that transcends on all generations
12:05 In other computer stores, you need assistance to fiddle with the gadgets that is sometimes inconvenient to the prospective clients
13:07 The same with car dealer, higher chances of successful sale if you get to test drive than looking through the dashboard
13:26 Amazon gets a lot of blame for killing the high street bookstores
13:31 But they are the ones who pioneered delivering things in a different way
13:56 Aside from the low price, Amazon has a wide depth of stock
14:41 How does you store fit in these new sales experiences?
15:01 Walmart has physical stores but offers online orders and are available for pick-up or delivery
15:28 Another store has a physical store for purchases but returns are processed online
16:30 Stores that prefers setting up an appointment may have less visitors but each one has dedicated their time for a prospective successful sale
17:57 David P shares that his wife order boots online of 2 sizes and if the other doesn’t fit then she can easily return the item.
18:03 But at times, when returning the item they make more purchases
18:40 With a physical store, every square foot of your store is rented and costs money
20:10 Many of the shop owners in the high street may have been airing their negative comments about online shops thus driving the people away
02:25 The same may have been the same sentiments when large category killers popped out and started beating the smaller local shops
21:08 There will always be better means of selling and a business owner, you have to keep up
21:45 Before, there were several local video rental shops but nowadays, movies can be rented at the flick of your fingertips
22:34 But even before video came, there was television and its predecessors: radio and live theatre
22:47 It’s a continuing evolution
24:34 Are big department stores threatened with the online shops?
25:11 In Paris, there are personal shoppers readily available in the stores.
26:15 Their business model is targeting the tourists more than the locals
27:02 Internet has changed the landscape of selling in this continuing evolution
27:41 There are so many ways a retail can cope with these changes
28:18 Does internet killed the high street? No more than the high street killed the high street in the past.
28:29 Just the same with social media marketing, do you need all? You only need the ones that deliver an advantage to your business.
29:08 Find the ones that are beneficial to your customers
30:10 Amazon has become a household name for an online shop because they have built the brand
31:55 Online is just another form of retail in a different market place.
32:02 Wrapping up today’s topic
32:32 You may send us your comments or suggestions by visiting our website: www.davidversusdavid.com
32:36 Or leave your questions at www.facebook.com/davidversusdavid
32:41 We’d love your 5-star reviews on iTunes
32:47 We’d love to hear your comments too if you think we are more biased since we are online people
33:19 David C has both a physical and online business so he is sitting on both aisles
33:55 Just like a comment long ago, the rude abrupt Australian may need to dip in the pool and toss in some barbeque immediately after this