Retailers are under threat by the internet.

Retail Under threat from the internet

The Internet has changed everything — especially when it comes to shopping for consumer electronics such as TVs. The Internet now is the place where most consumers start their shopping, by checking specifications, reading reviews and comparing prices.

“No matter what I want to buy, I go to the Internet first — get an idea what the product is, what the price is,” said Syed Akhter, professor of marketing at Marquette University. “And as online retailers have figured out, once I go to their place, they make it so attractive for me in terms of price, in terms of assortment, in terms of varieties, that I say, ‘OK fine, I’ll buy it from you.’ That is what is happening.”

In other cases, consumers might first search the Internet, go to a retail store to see a product in person and then hunt online for a lower price — a practice called “showrooming.”

Unless a bricks-and-mortar appliance and electronics business has something special to offer the consumer, it will lose out to competitors, industry analysts say. That’s what happened to American TV, Akhter said.  American TV was undone by the Internet – Apps prevent that

Retailers are under threat by the internet.

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“They didn’t have what we call in marketing a compelling value proposition,” he said. “That means I did not have any reason to go to their store. They were not…READ MORE
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