Over the years, concepts used in the business world have changed to suit the changing dynamic in the global and social market. As a result, companies are forced to change their organizational structures with the aim of translating traditional concepts and theories to meet modern forms of development. Ideally, technology is one of the factors that have enhanced the way in which people trade. In turn, business strategies such as marketing have incorporated principles of technology to meet the demands of the technologically enhanced markets (Wells 78).
One of the marketing trends which showcase the use of technology is online shopping. Online shopping involves buying and selling of goods and services online. The main intention of this practice is to enhance efficiency, reliability, and convenience during the exchange of goods and services. As such, businesses have been able to expand their strategies by using online marketing as the basis of targeting a wider market demographic (Wells 29).
Smart shopping is one of the by-products of the online marketing concept. It focuses on forming marketing concepts which rely on the internet by investing a considerable amount of time on finding the best prices with the aim of saving money. In spite the increased numbers of businesses which have invested in smart shopping, the industry is not yet fully aware of the concept. With raged to the market size of people who use smart shopping, more than 5 million use their mobile phones, laptops, and I pads as a means of selecting products in the market. Despite this large number, this does not represent a large percentage of the market share (Wells 91). To summarize, smart shopping is slowly catching on in the industry making it a priority in business management.
- Wells, Tina. Chasing Youth Culture and Getting It Right: How Your Business Can Profit by Tapping into Today’s Most Powerful Trendsetters and Tastemakers. Hoboken, N.J: John Wiley & Sons, 2011.