The invisible market retailer and its reentry in US markets.
Adam Smith first coined a metaphor of the invisible hand of the market in 1759. This term is used to describe how the self-interested behavior of people in a market place leads to the greater good for all without need to rely on concerted efforts of government or the church to direct commercial activities.
Technological advancements have made it possible to reach shoppers who are constantly on mobile devices aiming to connect with shoppers while in-store or far away from stores. Augmented reality is America’s invisible retailer touching everything from shopping aisles to product displays. This is creating a series of virtual assets that every retailer is experimenting with tremendously.
The internet via Google has become America’s most viable platform of business. Online retailing has become the latest most sought after venture. Amazon, for instance, is the lead invisible retailer in America with its chief executive becoming the world’s richest man.
Google partners with investors to make invisible retailing possible across the globe. In America generation Z is a new retail segment credited for stronger rising brands and technological applications that are taking retailing to other levels. Unlike the old consumers, ability to touch and try a product before purchasing it is less a concern to generation Z. Instead brand coverage, social media presence and overall style affinity is what wins over the modern consumer. Purchases can be made just by on click on Amazon or through the newest drop application.
The invention of Omni-channels is the latest in invisible retiling. Companies make use of multi-channel retailing through a number of online channels such as web store, marketplaces and social media. This is a form of digital marketing that focuses on designing a cohesive user experience for customers at every touchpoint that is the physical and digital presence. Currently many consumers especially generation z shop online especially with the products they find on Instagram and Snap chat.
Type of service: Academic paper writing
Type of assignment: Writing from scratch
Pages / words: 5 / 1400
Number of sources: 2
Academic level: Undergraduate
Paper format: APA
Line spacing: Double
Language style: US English