How e-commerce could be used to reach new customers

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Reference no: EM133672084

Question

You and your business partner have run a successful retail business selling clothes for over ten years, called 'FY Fashions'. Your business started as a market stall which you set up as university students. It was so successful that in the past 5 years you have opened up two retail units in addition to the market stall. Unfortunately, the retail units are not making much profit as the overhead costs are high and your business is not running in an efficient manner. For example, you rely on basic Excel spreadsheets to record customer data and keep a track of your stock. You do not have an online presence (l.e. you don't sell or advertise online). You have decided that, for the business to survive, you need to take advantage of information systems to increase your efficiency and also to reach new markets that you are not currently reaching. However, you need to persuade your business partner that investing in information systems (which will come at a cost) and selling online will not only help your business survive but will take it to the next level.

1. Explain what information systems you could use in your business to increase its efficiency.

2. Discuss how e-commerce could be used to reach new customers, market your business, and achieve competitive advantage.

Reference no: EM133672084

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