The selling of goods and services on the Internet has evolved from a hypothetical business concept into a thriving, multi-billion dollar industry which has prospects of sustained double-digit growth well into the first decade of the 2000s. This new market channel is estimated lo achieve over S108 billion in sales transactions by 2003. There are various definitions regarding what is meant by “electronic commerce,” however for the purposes of this chapter, we will confine our definition of the term to that segment of the retail industry which comprises sales transactions for products and services consummated via the Internet. This is a critical distinction from the far more vast array of literature devoted to companies’ use of electronic commerce such as Electronic Data Interchange for the purpose of reducing operating costs by streamlining productivity and efficiency. In short, we will limit our view of e-commerce to the business of selling goods and services via the Internet
Within this realm of e-commerce, there are several critical issues that arise for companies seeking to open an e-commerce storefront. In (his chapter, we will use the actual experiences of one retailer to highlight various approaches to those issues.
Conventional new store wisdom stales that, if you build it, the customers will indeed come to your storefront. This is why the old adage “location, location, location11 is all-important for a store. This is also why one store’s success will almost always guarantee that a friendly neighboring store will also be built to capitalize on the first store’s traffic. And, with traffic, stores typically realize proportional sales volume. Traditional traffic builders are print advertising, radio and television. Further, depending on whether the store is pan of a larger chain or not, traffic can be driven to a new store location by in-store advertising at the other locations.
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