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We’re all probably lucky to witness the advent of internet as well as experiencing what we call the ‘internet of things’. As a result of which we know of plenty of our habits, our knowledge and our old hardware that have been classified as near redundant (or near antique too). The world of business has drastically moved too into an era where managing a whole multi million dollar business can be expected out of a handheld smart phone today.
Not that I’m surprised to see the shift in the consumer behavior with the online retail in the well established as well as emerging markets. I’m rather glad to see how well adaptable the old school brick and mortar business set ups have become, in terms of welcoming dot com.
There’s no deny that:
It is a consumer’s world as it has always been.
Ecommerce and logistics do not just help in the ease of purchase or same day receipt of goods, but more so in enabling us to make an informed and a better purchasing decision. I want to talk about the industry that I am most passionate about, cycling, and also discuss how as an avid rider, the boom in online retail have helped me enjoy this sport. I now have a choice of surfing for the product that I require online or to take my bike out to a local garage (when/if I find time). Browsing cycling products sitting in Singapore amongst several international sellers as well as local e-retails, not only offers me the choice of brand or product to choose from, but also helps me in choosing the right product at the right price.
Online Cycling retail – Singapore
Singapore online retailers are concentrating onwhat makes their user convertand part from their money on their website. It clearly is no longer about adding products with some description and sitting hand on hand in the hope that their customer will bite one day. I see lots of Ecommerce websites that are investing their time and energy in providing excellent customer service to gain customer confident. As a customer, we now can enjoy various online deals as we witness the online battle of brands. The one who profits is the end user who is today spoilt with choices, best purchasing prices as well as easy of ordering. The retailers are also seen cross selling and associating products with another suitable item on their website in an effort to create ‘bundled deals’. Top that with free delivery and promotions, I think that website has some legs that will take them long way. Once done well, multiplies since their customer becomes their brand ambassadors in a certain lights and we see word of mouth roll.
With the home grown boom in Ecommerce, I no longer have to (or want to) order from overseas any more. Saving on money and shortening product delivery lead time, with other issues around international warranties, etc. I am glad that the same product could now be found and bought online in Singapore. One such e-retailer where I recently bought my bike parts, that also nearly fall into the category of a ‘one-stop’ bike accessories and components online shop that delivers to Malaysia, Indonesia and the rest of APAC iswww.SpeedOn5.com
In my opinion, what matters is not location for online sales, but your reach. Speedon5 has both going for them as being based in Singapore (the heart of APAC), their reach goes incredibly far with the help of premium third party carrier companies. Apart from that, they boast on their massive range of products, coming from popular brands in the cycling world that everyone want. These products are then made available to their customer from same day to next day delivery with in their home ground and up to 48 hours for as far as the UK.
From the ease of use of the website, down to real time stock statuses available for the visitors, Speedon5 is going full throttle in becoming Asia’s one-stop online bike store. But the USP that comes clear is their post purchase engagement with every customer on a personalized level. This comes has a part of their customer services which remains unmatched till now.
Working in harmony with other online e-tailers and physical store in Singapore, this promising ‘pure play’ online shop lacks a physical presence though, which makes me wonder:
How a physical shop compliments their online store:
 photo credit:Tallerviaphotopin(license)
We see many online as well as offline retailers considering (or at least accepting) the importance of a physical shop over their online retail e-store. It not only helps in reinforcing the brand into the market as well as provides and opportunity to implement various strategies such as ‘store to web’ or ‘webs to store’.
 Image Source  ulse of the Online Shopper
Retails have begun to realize the potential that lies in having a physical store verses a stand alone web asset such as a website or an online marketplace store. It only reassures the customer on the experience as well as on the credibility of a particular brand to be seen in an omni channel capacity. I see it less about being too focused on having an online only store rather than a physical shop or vise-a-versa. I see it is a combination of brick and mortar store as well as an online store co-existing for a particular brand.
More about the Author
 With most of Ankur’s working experience coming from the UK, he has spent last couple of years in Singapore working as online marketing & operations manager for online businesses.Ank’s profilereflects extensive experience inE-Commerce operations management &digital marketing with strong hold in partnership & client relations, PR and digital communication. | - See more at: http://www.baikbike.com/the-online-wave-online-shopping-for-bicycle-parts/#sthash.yZWiUIeI.dpuf | |
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