The increasing trend of companies finding and launching suitable yet creative marketing strategies – “minimize time, maximize experience” is one of the best strategy many companies are trying to provide their customers with (Wolfsen, 2013). ZALORA, an online fashion store, can either generate new marketing strategies or adopt existing marketing strategies that has been proven to be successful in order to attract more customers and have better sales performance.
Wolfsen (2013) asserts that it will attract more customers as customers would like to get their service done in less time. To minimize the time of customers spending on purchasing, one of the most efficient way is through big data. Matthew (2014) suggested that the technology of big
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One of the approach is a pop-up store. This strategy has successfully attracted more customers by exhibiting the best seller products (Nadine 2015). Customers are able to go to the pop-up store and try the products physically and then order it online through their mobile devices, and also computers and free WIFI are provided in the pop-up store. However, these pop-up stores only exist for a short period. Therefore, a long term physical store is necessary in enhancing the success of the pop-up store. This solved one of the disadvantages that online shopping has which is the waiting time for delivery. ZALORA addressed this by “delivery within the day” but consumers have to pay a small amount of fees (Nadine, 2015). By launching the physical store, people who do not trust online shopping will have a chance to have a physical touch with the products and eliminate their prejudice of online shopping. This helps to build up the trust between consumers and ZALORA. Statistics shows that “it can be up to 20 times easier for retailers to convert and upsell in-store than online” (Bookingbug, 2014). Nadine (2015) stated that ZALORA’s managing director Tito Costa sees an overall trend of online and offline merging, both online to offline and offline to online. In order to close the gap between online and offline, ZALORA has been experimenting with physical pop up stores. This has been helpful in acquiring new customers by helping to “fill the trust gap” some consumers still have towards online shopping. By having long term physical stores, it will further enhance the trust between consumers and ZALORA, achieving one of ZALORA’s goals which is to create seamlessly shopping experiences for the customers ((Nadine,
Big Data is an expansive phrase for data sets so called big, large or complex that they are very difficult to process using traditional data processing applications. Challenges include analysis, capture, curation, search, sharing, storage, transfer, visualization, and information privacy. In common usage, the term big data has largely come to refer simply to the use of predictive analytics. Big data is a set of techniques and technologies that need or require new forms of integration to expose large invisible values from large datasets that are diverse, complex, and of a massive scale. When big data is effectively and efficiently captured, processed, and analyzed, companies
Despite the potential challenges, it is still believed that big data is the new way of the world, and that businesses should aim to overcome these challenges. The first typical challenge small businesses will face is finding “talented people who know big data and analytics” (Taylor, 2012, para. 6). Unfortunately, since small business owners tend to not be familiar with big data, then they will be challenged to know how to use it. Big businesses have the money, reputation, and influence to hire people who are very knowledgeable with big data. Also, if the storeowner is technologically challenged, it’ll be even harder for him/her to know how big data can help him or even what big data is in order to go out and look for someone to help his/her store with big data. Even if the storeowner is comfortable with technology and is familiar with big data, the storeowner could be averse to change, and that would be another reason why using big data would be a challenge for this category. The storeowner who is used to doing things a certain way will not be eager to start using big data to improve his business. S/he will probably think that if the business is doing well, then they don’t need to change. This will prevent them from increasing profits and will stagnant them from keeping with current times and current technology. For
Savvas (2015) stated that the reasons why Marks and Spencers uses big data because it helps them to gain a better understanding of the customers of multichannels. It also helps them to understand more about the shopping habits of their customers, which in turn helps them to understand about inventory turnover. The higher the inventory turnover, the better their sales are. Marks and Spencer also uses big data because it helps them to answer key questions about IT support, even if they do not have any IT backgrounds, and at the same time, it helps empower their
New organizations can leverage Big Data in such a way that it provides benefits that can prove valuable especially to an organization seeking to establish itself and grow. One of these benefits is faster and better decision making. Particularly with the analytics of Big Data, organizations have access to real-time data
Business thrive when they have the most accurate, up-to-date, and relevant information at their disposal. This information can be used for a plethora of pertinent markers in small and large businesses, relating to accounting, investments, consumer activity, and much more. Big data is a term used to describe the extremely large amounts of data that floods a business every day. For decades, big data has been a growing field, facing controversy on many levels, but as of late, it has been a major innovator in the challenge of making businesses more sustainable. Big data is often scrutinized for its over-generalization and inability to display meaningful results at times. When applied correctly, data analysis can bring earth-altering information to the table.
Businesses using data is not a new concept; however, the role of data within industries has increased dramatically over the years to the point that it is essential for a business to understand how to handle data in order to continue operations. In today’s bustling digital age, professionals credit a certain type of data called “big data” with helping businesses gain insight on consumers. Big data is created whenever you travel to your favorite restaurant, make a particular move in a video game, swipe your card to purchase your favorite pair of Crocs, or tell your Facebook friends what you had for breakfast. It is data that is too large to be captured and processed by standard business
Not only the development of Big Data brings big opportunities, but it also brings big
Big Data can analyze a customer’s purchases, profile information, and make an accurate prediction on what his/her interests will be. Big Data has the potential to be the phenomenal tool of the future. It can accurately predict what a customer wants and show advertisements that he or she is actually interested in; It can be installed in smart cars, where an automatic distress call is sent when an unlucky individual is in a car accident; It can be uploaded to devices that closely monitor people’s health and report any irregularities to their doctor.4
In this new digital world, expectations are increasing. Today, customers demand personalized, reliable and durable products and services, at the time and in the place they want them. And thanks to the large amount of data being made available by the billions of connected devices out there, it’s easier than ever before for businesses to meet these expectations. It’s because of these developments that I believe data is the new currency. (Chandrasekaran, 2015).
Big Data. What is big data? As it becomes a more relevant part of the business world, this report covers how to use it, what its benefits are, and what fields it works well in.
Big data is a term that describes a large volume of data. This data comes in the form of structured and unstructured data. Structured data is information taken and sorted in rows and columns while unstructured data is pictures, tweets, videos, and location-based data. It is not surprising to see many businesses today utilizing data for financial gain. Businesses are harnessing data and using it to make investment decisions, marketing strategies, fraud reductions, and much more. These businesses and organizations can expect to become more profitable, effective, and efficient, but pushes the limits
The organization has believe that if the customers’ experience with the organization remains perfect and enjoyable then there is great likelihood that customer is going to visit the website again whenever he/she needs to buy something. Zappos’ also believe that if they can provide better service to customers in one product then there are good chances that customers will place their confidence in other products introduced on its website. The case study indicates that the majority of the revenues comes from the footwear sales and based on this customer loyalty company is confident that if they expanded their product line with similar quality of service it would attract the customer as well. Zappos’ is determined to achieve that customer loyalty by providing best services, for example the employees help the customers in searching the required product and even they suggest other websites to the customers if the required product is not available in Zappos’ store. Further, the websites’ return policy is very lenient, that it gives 365 days for returning the
This report is mainly focusing on studies of marketing strategy. By analyzing and discussing the case of Zara, we will be able to have a more in depth analysis of companies and their marketing strategies.
Zalora, established in 2012, is driving the web form industry networks in Southeast Asia. It is Asia's quickest developing style based internet business site. Zalora is Singapore's ASOS (Britain online retailer) working in 8 nations including Malaysia, Indonesia, Singapore, Hong Kong, Vietnam, Thailand, Philippines and Brunei. It offers a wide gathering of more than 500 national and global originators and brands. Clients can advertise from a large number of merchandise over ladies' and men's design clothing, adornments, shoes, sacks and magnificence items on the web. ViSenze visual innovation enables Zalora to guarantee consumer loyalty that they have an equivalent or far better shopping knowledge to that of disconnected clients as far as item shading, measure, shape, style and different characteristics. Patrick Steinbrenner Regional Director at Zalora South East Asia says: "ViSenze genuinely embraces a mix of development and shrewd innovation. The ViSearch item is easy to see, simple to utilize and conveys the outcomes we require." Zalora gives a consideration getting office of free merchandise exchange in thirty-days alongside expedient conveyance inside 1 to 3 working days, even free conveyance on certain spend. For client effectiveness, it presents numerous installment techniques like PayPal, MasterCard, VISA, CIMB Clicks and Cash on conveyance. At Zalora, shopping is simple and reasonable; a group of
Data is a powerful weapon as well as a resource. Having data does not make you powerful but what you do with it makes all the difference. Companies like Amazon, eBay and Netflix are already using data to predict user behavior and utilizing that to increase their revenue. But processing data in real time is not an easy task. The data today has great volume, is veracious in nature and is increasing at an enormous rate and hence has been given the term Big Data. There is a constant research going on to find a solution to process such huge amount of data in real time.