Online marketing is increasingly gaining value on a global scale as many companies move into digital platforms to reach to customers. Advancement in technology has made it possible for people to buy and sell any product and services virtually on the world's largest online marketplace ( Kotler et al., 2018 ). Platforms like eBays give everyone equal access to a single global marketplace where they can sell and purchase a variety of products like appliances, real estate's vehicles and others. In the wake of coronavirus pandemic, marketers have seized the opportunity of going online by creating virtual shopping centers. Alcántara published an article in the Wall Street Journal that explored the current virtual stores established to serve customers who miss the in-store experience following the outbreak of coronavirus pandemic.
The current virtual shopping differs from the past, which has short-term and required virtual reality headsets. Retailer companies like Ralph Lauren Corp., Groupe Clarins SA and Gap Inc are gaining experiment with virtual stores by allowing users to navigate digital versions of their physical location ( Alcántara, 2020) . The virtual stores have arrived during the holiday shopping season when several Europe countries are under lockdown and cases of Covid 19 the US are heightened. Companies operating on a global market are required to decide the country to enter, how to enter and ways of adapting the features of their products and services to every country. Marketer faces several challenges ranging from language, legal, culture, disposals and political differences (Kotler et al., 2018). E-marketing has, however, presented an opportunity to navigate the market and reduce these challenges. Across the article, Alcántara present ideas on the experience of customers who shop virtually.
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As cases of coronavirus continue to surge and mist sectors of economy get disrupted, e-commerce marketing has increased their brand image and sakes have risen by 33% in 2020. According to Alcántara (2020), customers are expected to spend over $189 billion this year. Beauty companies which mainly used to operate on a physical store like Charlotte Tilbury Beauty Ltd have rolled out a virtual store allowing retailers to serve customers 24 hours per day ( Alcántara, 2020) . The company is continuously growing its profit and serving global customers while ensuring physical distancing rules. Virtual marketing was introduced years back and has been widely used by some companies like Levi Strauss & Co, which in 2019 made its temporary flagship location. Other companies like Alibaba Holding Group Ltd introduced online simulation for its customers in China. O nline marketing through emotions and sense of presence and the other through the affect evoked by the virtual environment and brand recall (Martínez-Navarro et al. 2019). Most marketers operating on a global scale are changing their marketing strategies by adopting technology in new ways to connect with customers.
The future of virtual stores is promising and will grow significantly in the next few years. Mikey Vu, a partner at Bain & Co., a consulting firm, says that the new marketing technology adopted will continue to operate in the future ( Alcántara, 2020) . Today, the integrated marketing mix has been promoted by technological advancements that allow customers to search brands, compare prices and make orders. Digital technology has enhanced marketing network consisting of the company and its key stakeholders like customers, distributors, retailers ( Kotler et al., 2018 ). The 4ps of the integrated marketing strategy of product, price, place, and promotion introduced by Robert Lauterborn has been promoted by technology leading to coordination of activities and maximizing of profit (Lahtine et al., 2020). The article published in the Wall Street Journal shows that virtual stores have improved integrated marketing mix by allowing consumers to browse online instead of spending high cost to visit an actual store. Virtual marketing is the most effective marketing strategy for introducing new customers to the retail experience. Ralph Lauren Corp has asserted that even after the end of coronavirus pandemic, the company will continue operating virtually. Companies like Bustle Digital Group, which used to organize in-person events have thus years introduced a virtual bazaar with seven booths to market and sell products for brands like Kohls Corp and Gap. The use of virtual stores has progressed significantly in promoting brands.
The virtual store is progressing becoming a vital concept in marketing strategic plan. Not every virtual store can become successful since it requires advanced platforms and personalized experience when dealing with customers. Millions of sellers, customers and suppliers are slowly gaining access to online marketing, and in the next few years, most of the businesses will operate virtually. Numerous virtual stores and marketing channels will enhance marketing strategies through contacts, specialization, experiences and scale of operation.
References
Alcántara, A. (2020). Virtual Stores Present New Experiences to Shoppers Who Miss the In-Store Feeling . WSJ. Retrieved 28 November 2020, from https://www.wsj.com/articles/virtual-stores-present-new-experiences-to-shoppers-who-miss-the-in-store-feeling-11606158764?mod=searchresults_pos1&page=1.
Kotler, P., Keller, K. L., Ang, S. H., Tan, C. T., & Leong, S. M. (2018). Marketing management: an Asian perspective . Pearson.
Lahtinen, V., Dietrich, T., & Rundle-Thiele, S. (2020). Long live the marketing mix. Testing the effectiveness of the commercial marketing mix in a social marketing context. Journal of Social Marketing.
Martínez-Navarro, J., Bigné, E., Guixeres, J., Alcañiz, M., & Torrecilla, C. (2019). The influence of virtual reality in e-commerce. Journal of Business Research , 100 , 475-482. https://doi.org/10.1016/j.jbusres.2018.10.054
