How Does The Existing Economical Situation Influence Online Shopping?

Now is the time for businesses to make a decision to get online. Factors such as the decrease in the number of customers, rise in cost of fuel, growth in the number of people who shop online, oblige companies to shape their online presence.

Consumers are also driven to shop online as it is less expensive to buy your goods online than spending money on the gas and driving to the stores.

In an article from April 2011 it is mentioned that UK consumers prefer to make use of e-commerce websites when they take pleasure in shopping as gasoline prices are rising gradually. A study carried out by the Institute of Grocery Distribution determined that 52% of consumers in UK will cut down their shopping journeys if the prices of gas keep on going up.

Rather than driving to the shopping malls, people will choose to take advantage of the neighborhood shops or buy their groceries and luxuries by means of online shopping. 33% of the respondents to the study declared that online shopping would be their alternative in resisting the high costs of gas.

Derived from these results, plenty of sites are currently presenting to people opportunities of shopping online. An example is qpons-r-us.com which is an online coupon website that wishes to supply people with pleasant shopping experience. An additional example is My Shopping Genie that hands over various places where you can locate what you are looking for and also presents you the results according to the price. My Shopping Genie is a free application that works from your computer and it does the price comparison for you. It assists you with finding the best deals online.

Study illustrates that with the costs of living increasing, more people are searching for online coupon websites to obtain the extra discount off their acquisition. As a result more websites similar to qpons-r-us.com appear. For that reason My Shopping Genie advises companies to offer coupons via the application to the consumers of the genie. With the growth in the number of people who are choosing now shopping online, companies have huge benefits by having their existence online and offering coupons to their clients.

Online shopping presents benefits for customers too: time saving, money saving, broad variety of products and brands to choose from, shop from home, etc.

Online shopping turns out to be more and more popular. An editorial from April 2011 illustrates that UK online shoppers spend £ 5.1 billion in March this year which is £ 82 per person. The first quarter of 2011 faced an 18% increase compared with the same period last year.

Ideal Shopping Direct, the independent TV and online shopping company, testified that its total sales expanded by 13.5% in the last year. What is fascinating is that the main proportion of its increase comes from online selling, which increased by 70%.

Mintel, the market research company, forecasts that UK online clothing sales will increase 60% by 2015. They discovered that in 2010, 34% of UK shoppers bought cloths online compared to only 25% in 2009.

These results demonstrate that companies would profit from offering to their customers options to shop online. Consequently companies should invest in the newest online technology and integrate e-commerce into their marketing strategy.

There are by now a large number of retailers that are turning to smaller stores or online presence. Some examples are Best Buy, Wal-Mart, Office Depot. Due to the consumer shift to online shopping, Best Buy is concentrating on their online sales, while reducing the size of their stores. Online shopping is going to be a benefit for the company itself but also for its clients as the lower cost structure permits online retailers to present lower prices.

The possessors of big shopping malls or other companies should not be frightened by this revolution but instead should take advantage of online shopping and integrate it into their marketing strategy. Benefit from sites such as My Shopping Genie and be open for market changes.

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Online Drug Stores

Drug stores are places where people get their medication. Originally, drug stores had doctors who conducted medical examinations, prescribed medicines, and also made those medicines. These days, drug stores are more or less just shops that dispense medications. Drug stores provide medications for all kinds of ailments. These can be prescription drugs or ‘over-the-counter’ drugs. Over-the-counter drugs do not need a prescription from a qualified doctor. There are many kinds of drug stores including community drug stores (includes a doctor as well as the pharmacist), hospital drug stores (attached to the hospital), and online drug stores.

Drug stores generally classify their medications into several categories including baby, child care, cosmetics, diet, nutrition, gifts, specialty, home medical supplies, household items, natural products, online exclusives, personal care, bath, sexual health, skin care, vitamins, and supplements. Many drug stores also provide valuable services such as lab services, medical clinics, health screenings, classes and events, and counseling by pharmacists.

Online drug stores, as opposed to traditional brick and mortar drug stores, are stores that enable one to shop for drugs over the internet. Many regular drug stores now have their own websites that enable online ordering of medicines. The procedure is also very easy as the drugs just have to be selected from a list, specifying strength, quantity, and form. A simple click of the button will confirm the order. Other ways to order drugs online are: mailing the prescription to the drug store, having the doctor call or fax the prescription directly to the drug store, or the drug store could call the doctor. Payment can be made by credit card or by insurance/discount card. The medicines will arrive within 14 days.

Online drug stores also provide other value added services like customized prescription records for insurance or tax records, information about drug recalls, as well as other safety notices, online counseling by pharmacists, and drug refill reminder services.

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All the Ws of a Business Plan

A business plan is a written description of the future of your business and more importantly, how you are going to get there. It is a document that explains what you are going to do to make your company profitable and how you are going to achieve this. It defines both your business model and your strategies to make this business model work and more importantly profitable.

Normally when a business idea arises, you know what resources and capabilities you have at the start of your business and where you want to go in a certain period, usually in 3 or 5 years. But what is the way to reach that goal? Where to start? How to arouse investor interest? Even, how to get your business off the ground? Everything seems so easy when you have the great money winning idea and concept. It is how you are going to achieve these dreams and get enough money to keep the business going for many years to come.

Writing a business plan is to build a map that will guide you to where you start making money with your initial business idea. At is very basic structure, your business plan is a mixture of strategies and plans. It involves financials, marketing, staffing and products. Think of it as the foundation to your new business.

WHAT are the reasons that I might need one?
• To look for investors.
• To apply for a loan.
• To establish the viability of your business idea.
• To make improvements to your current business.
• To expand your current business.

All of these types have different emphasises and a different structure.

WHAT is a business plan?
It is a tool or document that describes a business opportunity or idea, the work team, the operational and marketing execution strategies, the business risks and the economic viability of your business. A well written document guides you to turn an idea into a viable business.

It can also be defined in another context in that the business plan becomes a fundamental tool within the analysis of a new business opportunity, a diversification plan, an internationalisation project, the acquisition of a company or an external business unit, or even the launch of a new product or service within the current business.

To summarise, both for the development or launch of a startup and for the analysis of new business investments, the business plan becomes an indispensable tool. So even though you have an established business, you will still need a business plan as you expand and improve that business.

A business plan is never finished and should be reviewed from time to time at least annually but certainly when large changes to an existing company are anticipated. This implies that every plan must adapt effectively and efficiently to the changes, helping the project to continue.

WHAT is the point of a business plan?
Many entrepreneurs think they only need a business plan when they are seeking investment or when the bank asks for one. However the act of business planning, when completed correctly, enables the entrepreneur to carry out an extensive market study that will provide the information required to design the best possible business model that will be both profitable and efficient.

Additionally, the business plan will develop the strategic measures for all functional areas that will enable them achieve the objectives for the new business.
Once written, the business plan will serve as an internal tool to assess the management of the company and its deviations from the planned scenario. Proposing, if necessary, adaptations to the agreed business model in order to obtain updated information for the daily management of the company. This will include preparation of the required changes and processes to bring the business back on track.

So lets dive into the concepts behind business planning a bit more.

The WHY of The Business Plan
• Why do you want your business plan?
• Why are you writing the plan now?

The WHAT of the Business Plan
• What is the purpose of developing a specific plan?
• In what period do you consider it possible to carry out your projects?
• What is your business model?
• What is your Value Proposition?
• What are your products or services to be offered?
• What positioning do you plan to develop to compete?
• What are your measurements of success?
• What markets do you plan to penetrate?
• What market percentage do you estimate to obtain?
• What margins do you consider possible?
• What income do you consider you will receive?
• What are the costs of expansion?
• What are the costs of obtaining new customers?
• What do you want to do with your business?
• What strategies do you want to undertake – financial, marketing and planning

The WHERE of the Business Activity
• Where will your products be sold from? Shop, office, website, social media, road side, party planning,
• Where are you based? Locally, centrally, virtually etc.
• Where are your products produced?
• Where are your distribution channels?
• Where are they going to be sold?
• Where is your market?
• Where will your staff need to be based?

The WHEN of your business planning activities
• When will you need to start your new activities?
• When will they end?
• When will your investor need to invest?
• When will your investor get their money back?
• When will you have enough staff to carry out your new changes?
• When will your products and services be available?
• When will your products need to be updated and/or improved?
• When is the best time to attract new customers?

WHO do you present your plan to?
• Bank for loan purposes and they will take a charge over a property usually.
• Investor to join your company as a shareholder.
• Angle Investor to join as a shareholder but also be involved in the running of your company.
• Management team so they know what is expected of them.
• Suppliers who will be offering credit.
• Director level hires so that they are encouraged to join your company.
• Believe it or not the entrepreneur should also refer back on a regular basis.

As you can see there are a lot of Ws involved with a business plan – the biggest W is why should you write a business plan and the answer is – because it is such a great business tool.

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