TOPIC: IMPLEMENTING STRATEGIC E COMMERCE IN CONWAY STORES INC,
E commerce is the online business buying and selling products and services, or even transferring funds through the web. It requires high internet connection.
According to Education Center “Electronic commerce or ecommerce is a term for any type of business, or commercial transaction, which involves the transfer of information across the Internet. It covers a range of different types of businesses, from consumer based retail sites, through auction or music sites, to business exchanges trading goods and services between corporations. It is currently one of the most important aspects of the Internet to emerge. Ecommerce ...view middle of the document...
It all began with their flagship store in the heart of Manhattan in New York at Herald Square. From the original stores on the famous 34th Street, Conway then branched out to Brooklyn and the Bronx and from there the family owned business expanded to 45 stores with locations in 9 states: New York, New Jersey, Connecticut, Pennsylvania, Illinois, Virginia, North and South Carolina, and Georgia. Shoppers everywhere know they are getting the latest fashion trends straight out of New York City for less money than anywhere else. It doesn't take long for the Conway shopper to return often. Every time they come into a Conway they never know what "crazy deals" they are going to find.” (High Beam research)
Its products are very affordable and they can target foreign customers, average income people, or anybody that wants to save money.
As great as it is Conway Stores Inc operates just in stores, it has a web page that shows its products, however it does not sell anything online. The issue with Conway Stores Inc is that their business is done onsite, therefore the foreign consumers, people that live far away from the Conway stores or people in the United States that live where there is no Conway stores are excluded, they can’t take buy Conway store Inc products even if they want to.
Also the company has over than 45 stores according to its web page, this means that the company is paying more for its rents and also has an estimated 1,700 employees.
According to Ecommerce Education, ecommerce has enormous positive impacts on businesses today; ecommerce allows people to carry out businesses without the barriers of time or distance. One can log on to the internet at any point of time , be it day or night and purchase or sell anything one desires at a single click of the mouse, the direct cost of sale for an order taken from a web site is lower than through traditional means( retail ,paper based), as there is no human interaction during the on-line electronic purchase order process, also electronic selling virtually eliminates processing errors, as well as being faster and more convenient for the visitors; ecommerce is ideal for niche products. Customers for such products are usually few; another important of ecommerce is that it is the cheapest means of doing businesses
With the information given by Ecommerce Education, if Conway Stores Inc has also an online business store, it can attract foreign consumers, therefore they would make more sales meaning more money, and also they would attract even new customers in the United States that lives where there is no Conway store or customers that live far from the store. Also with the e commerce Conway Store Inc can reduce its labors and also close down some of its stores and move them on the internet. This way it would save more money on the rents and also on the utilities. Especially we know how expensive the rent in New York City is.
Ecommerce is really a cost saving and a profit making system for...