UNIT 4 DIGITAL BUSINESS APPLICATION -1.pptxElectronic retailing, commonly known as e-tailing or online retailing, refers to the sale of goods and services via the internet

Electronic retailing, commonly known as e-tailing or online retailing, refers to the sale of goods and services via the internet

1. DIGITAL BUSINESS APPLICATION- I Dr. Kiran S. Shinde Sanjivani Institute of Management Studies Kopargaon Prof. Dr. Kiran S.Shinde Sanjivani Institute of Management Studies Kopargaon

2. Digital Business Application A digital business application refers to software or technology solutions designed to streamline, enhance, or transform various aspects of a business's operations, processes, or customer interactions in the digital realm. These applications leverage digital technologies to improve efficiency, productivity, customer service, and overall business performance Prof. Dr. Kiran S.Shinde Sanjivani Institute of Management Studies Kopargaon

3. Electronic retailing Electronic retailing, commonly known as e-tailing or online retailing, refers to the sale of goods and services via the internet. It involves businesses selling products directly to consumers through online channels, eliminating the need for physical storefronts . E-retailing has gained immense popularity due to the widespread use of the internet and the convenience it offers to both retailers and consumers. Prof. Dr. Kiran S.Shinde Sanjivani Institute of Management Studies Kopargaon

4. E- Retailing Characteristics Online Presence: E-retailing primarily operates through websites, apps, or online platforms, allowing customers to browse and purchase products or services digitally. Convenience: Customers can shop 24/7 from anywhere with internet access, offering unparalleled convenience compared to physical stores. Global Reach: E-retailers have the potential to reach a worldwide audience, transcending geographical limitations. Diverse Product Range: Online stores often offer a vast array of products due to the lack of physical space constraints, providing customers with extensive choices. Prof. Dr. Kiran S.Shinde Sanjivani Institute of Management Studies Kopargaon

5. TYPES OF E-RETAILING 1.Click E-Retailing“- refers to a form of electronic retailing where the primary action for purchasing goods or services occurs through the clicking of a button or a series of clicks on a digital interface. 2. "Click-and-Brick" -e-retailing refers to a business model that combines both online (click) and offline or physical (brick-and-mortar) retailing strategies. This approach involves a retailer having both an online presence (e-commerce website or app) and a physical store or stores 3. Brick-and-mortar retailing- refers to the traditional method of selling products or services through physical stores or locations that customers visit in person to make purchases. It is often characterized by the presence of a physical building, tangible inventory, and face-to-face interactions between customers and sales representatives. Prof. Dr. Kiran S.Shinde Sanjivani Institute of Management Studies Kopargaon

6. Factors Affecting E-Retailing/Changing Retail Industry Dnamics 1.Excess capacity- 2.Demographic Changes 3.Consumer Behavior 4.Technology Improvement Prof. Dr. Kiran S.Shinde Sanjivani Institute of Management Studies Kopargaon

7. Technology Based E- Retailing Channels TV Retailing- Television retailing, also known as TV shopping or teleshopping, is a form of retail where products or services are promoted, demonstrated, and sold directly to consumers via television broadcasts. It involves dedicated channels or programs that showcase products, often utilizing demonstrations and persuasive sales techniques to encourage viewers to make purchases . Online-based shopping - commonly referred to as e-commerce or online shopping, involves the buying and selling of goods or services over the internet through digital platforms. It has revolutionized the retail industry by providing convenience, accessibility, and a wide range of products to consumers worldwide Prof. Dr. Kiran S.Shinde Sanjivani Institute of Management Studies Kopargaon

8. Issues with online Retailing Difficult to develop strategy Manage Channel Conflict Pricing Strategies – Access price , expected price, Product pricing of untested Design layout of online shop Manage Brands Deliver satisfying shoping experience Right incentive Prof. Dr. Kiran S.Shinde Sanjivani Institute of Management Studies Kopargaon

9. E- Retailing Business Models Business-to-Consumer (B2C): Description: B2C e-retailing involves businesses selling products or services directly to individual consumers. Example: Amazon.com, where consumers can directly purchase various goods from the website. Business-to-Business (B2B): Description: B2B e-retailing involves transactions between businesses, where one business sells products or services to another business. Example: Alibaba.com, which facilitates wholesale transactions between manufacturers, suppliers, and retailers. Consumer-to-Consumer (C2C): Description: C2C e-retailing involves individual consumers selling products or services to other consumers through online platforms. Example: eBay, where individuals can buy and sell products to and from each other in an auction or fixed-price format. Prof. Dr. Kiran S.Shinde Sanjivani Institute of Management Studies Kopargaon

10. E- Retailing Business Models Subscription Model: Description: Businesses offer products or services on a subscription basis, where customers pay a recurring fee at regular intervals. Example: Netflix, where subscribers pay a monthly fee for access to streaming services. Marketplace Model: Description: Online platforms act as intermediaries, connecting multiple sellers with potential buyers. Example: Etsy, where various individual artisans and crafters sell their handmade or vintage items to customers through the platform. Drop shipping Model: Description: Retailers sell products to customers without keeping the items in stock. Instead, the retailer transfers the order and shipment details to a third party, typically the manufacturer or wholesaler, who then ships the product directly to the customer. Example: Oberlo , where entrepreneurs set up online stores and sell products without physically handling inventory. Prof. Dr. Kiran S.Shinde Sanjivani Institute of Management Studies Kopargaon

11. Impact of e- Commerce on traditional retail Shift in Consumer Behavior: Convenience: E-commerce offers 24/7 accessibility, convenience, and a wider product range, altering consumer expectations about shopping experiences. Preference for Online Shopping: Consumers increasingly prefer the ease of browsing and buying online, reducing foot traffic in physical stores. Market Competition and Adaptation: Increased Competition: Traditional retailers face intensified competition from online counterparts due to lower overhead costs and expansive product offerings. Omnichannel Approach: Many traditional retailers have adapted by implementing omnichannel strategies, integrating online and offline experiences to meet evolving customer demands. Brick-and-Mortar Store Challenges: Store Closures: E-commerce growth has contributed to the closure of some traditional retail stores unable to compete effectively. Reimagined In-Store Experience: Successful retailers have focused on enhancing in-store experiences, emphasizing customer service, unique offerings, and experiential shopping. Logistics and Fulfillment Changes: Supply Chain Evolution: E-commerce has necessitated advancements in logistics and fulfillment to meet demand for faster and more efficient delivery services. Last-Mile Delivery Innovations: The focus on last-mile delivery has led to innovations like same-day or next-day delivery options to meet customer expectations. Prof. Dr. Kiran S.Shinde Sanjivani Institute of Management Studies Kopargaon

12. Advantages of E-Retailing Global Market Reach: E-retailing enables businesses to reach a global audience without the constraints of geographical boundaries. 24/7 Accessibility: Online stores operate round the clock, providing customers the convenience to shop anytime, anywhere. Lower Overheads: E-retailing often has lower operational costs compared to brick-and-mortar stores, as it eliminates expenses related to physical storefronts and staff. Diverse Product Range: Online retailers can offer a wide variety of products due to the absence of space limitations, providing customers with more choices. Convenient Shopping Experience: E-retailing offers a seamless and convenient shopping experience, allowing customers to compare products, read reviews, and make purchases with ease. Personalization and Targeted Marketing: E-retailers can leverage customer data to personalize recommendations and marketing strategies, enhancing the shopping experience. Prof. Dr. Kiran S.Shinde Sanjivani Institute of Management Studies Kopargaon

13. Disadvantages of E-Retailing Lack of Tangible Experience: Customers can't physically inspect or try products before purchasing, leading to potential dissatisfaction due to differences in expectations and reality. Security Concerns: E-retailing involves the exchange of sensitive personal and financial information, making it susceptible to cybersecurity threats and fraud. Logistical Challenges: Shipping, delivery, and return logistics can be complex and costly, impacting customer satisfaction and operational efficiency. Intense Competition: The online marketplace is highly competitive, requiring constant innovation and marketing efforts to stand out among numerous competitors. Dependence on Technology: Technical issues, website downtime, or glitches can disrupt the shopping experience, leading to lost sales and customer frustration. Prof. Dr. Kiran S.Shinde Sanjivani Institute of Management Studies Kopargaon

14. Product customization in e retailing Configuration Tools: Online retailers offer configuration tools allowing customers to personalize products. For instance, customizing the color, size, features, and accessories of items like laptops or shoes. Personalized Recommendations: E-retailers use customer data and browsing history to suggest products based on individual preferences, enhancing the shopping experience. Made-to-Order Products: Some e-retailers allow customers to order customized or made-to-order items, such as personalized gifts or custom clothing, by specifying design preferences. User-Generated Content: Customers often contribute to product customization by providing reviews, ratings, and feedback, influencing future purchases and product development. Prof. Dr. Kiran S.Shinde Sanjivani Institute of Management Studies Kopargaon

15. Service customization Tailored Services: E-retailers offer personalized customer service experiences, including personalized recommendations, live chat support, or dedicated customer service representatives. Subscription Customization: Services like subscription boxes or memberships allow customers to choose preferences, enabling tailored deliveries based on individual tastes or needs. Personalized Communication: E-retailers use personalized email marketing, newsletters, or notifications to engage customers with relevant content and offers. Adaptive Pricing or Bundles: Some e-retailers adjust pricing or offer customized product bundles based on customer behaviors or purchasing history. Prof. Dr. Kiran S.Shinde Sanjivani Institute of Management Studies Kopargaon

16. Fintech Fintech, short for Financial Technology, refers to innovative technologies and startups that aim to improve and automate the delivery of financial services. These technologies leverage software, algorithms, and digital platforms to enhance efficiency, accessibility, and convenience in various financial activities . E- Banking Mobile Banking Stock Trading Prof. Dr. Kiran S.Shinde Sanjivani Institute of Management Studies Kopargaon

17. Fintech Digital Payments: Fintech encompasses various digital payment methods, including mobile wallets, peer-to-peer (P2P) payment platforms, and contactless payments, offering speed and convenience in transactions. Online Lending: Fintech has disrupted traditional lending models by introducing peer-to-peer lending platforms, crowdfunding, and online lending marketplaces that streamline the borrowing and lending processes. Robo -Advisors: These automated investment platforms use algorithms and artificial intelligence to provide personalized investment advice and portfolio management at lower costs than traditional financial advisors. Prof. Dr. Kiran S.Shinde Sanjivani Institute of Management Studies Kopargaon

18. Fintech Impact of Fintech: Enhanced Accessibility: Fintech solutions have increased access to financial services, especially in underserved or unbanked populations, by offering digital alternatives to traditional banking. Cost Efficiency: Fintech often reduces operational costs for both financial institutions and consumers through automation and streamlined processes. Customer Experience: Fintech innovations prioritize user-friendly interfaces and personalized services, improving the overall customer experience in financial transactions and services. Disruption of Traditional Financial Services: Fintech has challenged traditional banking and financial sectors, prompting incumbents to adapt and innovate to remain competitive. Data Security and Privacy: With the rise of fintech , ensuring robust cybersecurity measures and data privacy has become crucial to maintain trust and protect sensitive financial information. Prof. Dr. Kiran S.Shinde Sanjivani Institute of Management Studies Kopargaon

19. E- Learning Online Courses and Programs: E-learning offers structured courses and programs available online, covering various subjects and levels of education, from K-12 to higher education and professional development. Virtual Classrooms and Webinars: Platforms enable live or recorded interactive sessions, lectures, discussions, and presentations, allowing remote participation and engagement among instructors and learners. Digital Resources and Content: E-learning provides access to a diverse range of digital resources, including e-books, videos, podcasts, simulations, and interactive modules, enhancing the learning experience Prof. Dr. Kiran S.Shinde Sanjivani Institute of Management Studies Kopargaon

20. Advantages Flexibility and Accessibility: Learners can access educational content anytime, anywhere, fostering flexibility in learning schedules and accommodating diverse learner needs. Cost-Effectiveness: E-learning reduces costs associated with traditional classroom-based learning, such as commuting, physical materials, and infrastructure. Scalability and Reach: E-learning allows institutions to reach a larger audience beyond geographical limitations, facilitating education on a global scale. Interactive and Engaging: Multimedia-rich content, interactive elements, and gamification techniques enhance engagement and retention of learning materials. Prof. Dr. Kiran S.Shinde Sanjivani Institute of Management Studies Kopargaon

21. Disadvantages Digital Divide: Unequal access to technology and the internet can limit the participation of individuals or communities with limited resources. Technical Issues and Infrastructure: Reliance on technology brings challenges related to technical glitches, connectivity issues, and the need for robust infrastructure. Self-Motivation and Discipline: E-learning demands self-discipline and motivation from learners to effectively manage their time and stay engaged without direct supervision. Social Interaction and Collaboration: Lack of face-to-face interaction may hinder social engagement, peer collaboration, and communication skills development Prof. Dr. Kiran S.Shinde Sanjivani Institute of Management Studies Kopargaon

22. Digital government Digital government, also known as e-government or online government, refers to the use of digital technologies, data, and communication tools by governmental organizations to provide public services, improve efficiency in governance, enhance citizen engagement , and transform the delivery of government operations. Types- G2C G2B G2G G2E Prof. Dr. Kiran S.Shinde Sanjivani Institute of Management Studies Kopargaon

23. Components of Digital Government: Online Service Delivery: Governments offer a wide range of services through digital platforms, allowing citizens to access information, complete transactions, and interact with government agencies online. This includes services like tax filing, license renewals, and permit applications. Open Data and Transparency: Governments release public data and information for access and use by citizens, businesses, researchers, and other governmental bodies to promote transparency, accountability, and innovation. Digital Identity and Authentication: Secure digital identity systems enable citizens to access government services securely while protecting their personal information. Prof. Dr. Kiran S.Shinde Sanjivani Institute of Management Studies Kopargaon

24. E-books E-books, short for electronic books, are digital versions of printed books that can be read on electronic devices such as e-readers, tablets, smartphones, or computers. Here are some key points about e-books: Characteristics of E-Books: Digital Format: E-books are created in digital formats such as PDF, EPUB, MOBI, or other proprietary formats that allow them to be easily accessed and read on electronic devices. Portability and Accessibility: E-books can be stored and accessed on various devices, enabling readers to carry numerous books in a single portable device. Interactive Features: Some e-books incorporate multimedia elements like audio, video, hyperlinks, and interactive content, enhancing the reading experience. Prof. Dr. Kiran S.Shinde Sanjivani Institute of Management Studies Kopargaon

25. E-books Instant Access and Distribution: E-books can be instantly downloaded and distributed over the internet, eliminating the need for physical distribution and reducing production costs. Adaptability and Customization: E-books allow readers to customize font sizes, styles, and background colors to suit their preferences, enhancing readability for individuals with different needs. Eco-Friendly and Space-Saving: Since e-books are digital, they reduce paper usage and the need for physical storage, contributing to environmental conservation and saving physical space. Self-Publishing Opportunities: E-books have opened avenues for independent authors to self-publish their work without the need for traditional publishing houses. Prof. Dr. Kiran S.Shinde Sanjivani Institute of Management Studies Kopargaon

26. Advantages of E-Books: Convenience and Portability: E-books can be carried anywhere on a single device, allowing readers to access their entire library on the go. Instant Access: E-books can be instantly downloaded after purchase, eliminating the need to wait for physical delivery. Cost-Effective: E-books are often cheaper than printed books due to lower production and distribution costs. Search ability and Note-taking: E-books allow readers to search for specific content, highlight text, and make annotations or notes digitally. Space-Saving: E-books do not require physical storage space, making them ideal for individuals with limited space or for travelers. Accessibility Features: E-books can offer accessibility features such as text-to-speech, screen readers, and adjustable fonts for individuals with disabilities. Prof. Dr. Kiran S.Shinde Sanjivani Institute of Management Studies Kopargaon

27. Challenges of E-Books: Dependency on Technology: E-books require compatible devices and technology, and technical issues could hinder the reading experience. Digital Rights Management (DRM): DRM restrictions may limit the transfer or sharing of e-books among different devices or users. Eye Strain and Screen Fatigue: Prolonged reading on electronic screens may cause eye strain or fatigue for some readers. Ownership and Licensing: Some e-books are licensed rather than owned, which could limit user rights to access or transfer the content. Prof. Dr. Kiran S.Shinde Sanjivani Institute of Management Studies Kopargaon

28. THANK YOU Dr. Kiran S. Shinde Sanjivani Institute of Management Studies Kopargaon Prof. Dr. Kiran S.Shinde Sanjivani Institute of Management Studies Kopargaon