HOLMES INSTITUTE

FACULTY OF HIGHER EDUCATION

HC3152 Individual Assignment

Weight 20%

Due Date: Friday, 28 September 2018 (The end of week 10)

As part of your individual assignment, you are required to develop a report based on the following article and video:

1. ‘The future of the retail store – what does online mean for bricks and mortar?’
2. ‘Future of retail in Australia’ Available: https://home.kpmg.com/au/en/home/insights/2018/04/bernard-salt-next-5-years-retail-future-australia.html [accessed: 21 July 2018]

The instructions to complete your assignment are as follow:

1. Select a retail store to be the focus of this assignment from the below list only:

Australia Post	The Reject Shop	Repco
Aldi Supermarket	Priceline	First Choice Liqueur
Bing Lee	Myer	Rivers
Big W	Target	Flight Center
Coles	Dan Murphy	Vodafone Shop
Chemist Warehouse	Costco	Optus Retail
IGA	David Jones	McDonalds
Harvey Norman	Fantastic Furniture	EB Games
JB-Hifi	Bunnings Warehouse	Rebel Sport

2. Briefly describe the current operation of your selected retail.
3. Conduct a further research in the peer reviewed recent journal articles in ProQuest or other reputable journal database to find at least Five (5) articles relevant to the assignment.
4. The ideas from these articles will be incorporated into the discussion in the main assignment.
5. An attachment to the assignment will list the correct Harvard referencing of each of the journal articles and a brief outline of the key points in the journal article that are relevant to the assignment. Do not summarise the journal article. Identify the key points and briefly describe them and their relevance to the assignment.
6. You should review and refine your refinement and polishing of the ideas and the communication of ideas, prior to the submission of the report.
7. Your report must lead to recommendations on how your selected retail store can become more effective through the use of internet technologies.
8. The structure of the report should be as follows:

• Holmes Assignment Cover page
• Table of Contents
• Introduction
• Body of the report
• Conclusions and recommendations
• References
• Appendices

HC3152 Individual Assignment Marking Rubric

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Criteria

Topic/Content

Organization

Quality of Information

Grammar, Usage, Mechanics, Spelling

Interest Level

Neatness

Referencing

		Excellent	Good		Satisfactory		Beginning
weight
/20%	Directly relevant		Somewhat relevant		Remotely related		Totally unrelated
		/(16-20)	/(11-15)		/(6-10)		/(0-5)
	Good organization; points are		Organized; points are		Some organization; points jump		Poorly organized; no logical
		logically ordered; sharp sense	somewhat jumpy; sense of		around; beginning and ending		progression; beginning and
/10%		of beginning and end	beginning and ending		are unclear		ending are vague
			/(5-7)		/(3-4)		/(0-2)
		/(8-10)
	Supporting details specific to		Some details are non-		Details are somewhat sketchy.		Unable to find specific details
/20%		subject	supporting to the subject		Do not support topic		/(0-5)
		/(16-20)	/(11-15)		/(6-10)
	No errors		Only one or two errors		More than two errors		Numerous errors distract from
/20%		/(16-20)	/(11-15)		/(6-10)		understanding
							/(0-5)
	Vocabulary is varied; supporting		Vocabulary is varied;		Vocabulary is unimaginative;		Basic vocabulary; needs
		details vivid	supporting details useful		details lack “color”		descriptive words
/10%					/(3-4)		/(0-2)
		/(8-10)	/(5-7)
	Typed; clean; neatly bound in a		Legible writing, well-formed		Legible writing, some ill-formed		Illegible writing; loose pages
		report cover; illustrations	characters; clean and neatly		letters, print too small or too		/(0-2)
/10%		provided	bound in a report cover		large; papers stapled together
		/(8-10)	/(5-7)		/(3-4)
		References are consistently	Generally correct referencing		References are used, but not		References (if called for) are
/10%		correct using Harvard style.	(if called for) using Harvard		used consistently		missing or do not use correct
		No missing citations.	style.		/(3-4)		referencing style.
		/(8-10)	/(5-7)				/(0-2)

Assignment Score  ____________/100 *     Convert to 20%              =      Final Score     _______________/20_

The future of the retail store – what does online mean for bricks and mortar?

Published on 24 September 2013 in Events & programs, Latest statistics, Online business, Online presence,Online retail |

Earlier this year Netscape founder Marc Andreessen controversially claimed that “retail is dead”. He believed that online competition will result in the complete extinction of physical stores. But is this view a bit extreme? Founder and CEO of Retail Prophet, Doug Stephens thinks so. Speaking at the Online Retailer Conference, Doug strongly believes that in fact the future of retail will involve important roles for both physical and online. And this is largely because we don’t go shopping just to acquire things. It’s like saying we go to restaurants just to eat food. Shopping is a social ritual.

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The statistics show that online retail is growing. 2013 will see an estimated $1.2 trillion in ecommerce sales around the world, which equates to year-on-year growth of 19%. Doug argues that is completely conceivable that by 2022, online will account for 30% of all sales. Buying online can offer convenience and competitive prices.

But shopping is about more than convenience and competitive prices. It also offers an opportunity to satisfy our deep human need for social interaction. Doug uses the example of people camping outside Apple stores for days or even weeks to purchase the latest iPhone or iPad. They could just buy the product online, or even in store a few days later. But it’s the experience they are there for.

Everything we know about retail is changing and, according to Doug, mobile is the accelerant on the fire of this change. The increasing popularity of smartphones is giving consumers greater access to information and products than ever. We think – and expect – that we can get anything we want, whenever we want, where ever we are.

We can already see a lot of innovation in how retailers are seeking to meet those expectations. Kate Spade created digital windows  in New York which showcased products and offered a large touchscreen monitor to browse and purchase items. Your item will be delivered to you in New York within an hour – 24 hours a day.

Doug’s advice to retailers in the face of this change is to stop thinking about channels. Think about moments. Online technology offers your consumers the opportunity to buy your product in any moment. Your physical store, meanwhile, offers your customers experiences and moments to fall in love with your brand.

In the future your physical retail store will be less about distribution. Purchase and distribution will happen increasingly through online channels. Doug believes your store should start to focus more on “distributing experiences”. The store will be less about taking something and more about experiencing or making something. One example of this is Sport Chek, who have created a concept store in Toronto [VIDEO]  where physical and digital collide. Using 140 screens throughout the store, customers can play with products, view live Twitter reviews, request sample products to try, and even design and order their own custom Reebok shoes.

According to Doug, the future of retail is very much “phy-gital”. It’s no longer about one or the other – it’s not a debate. Doug’s final advice is that you should stop competing to be the cheapest. You need to let your store be a source of media that gives remarkable experiences so that customers will want to buy your product in any moment from any channel that best suits them.

By Natalie, Dept Comms