online classified ads are an example of c2c e-commerce.
Published on: January 28 2023 by pipiads
Table of Contents About online classified ads are an example of c2c e-commerce.
E commerce Classification II
hi everyone, welcome to our e-commerce class today. my name is Angeline one. today we are going to continue ecommerce classification and this is the second part of e-commerce category. in the last class we have toked about our b2b- business to business, b2c- business to consumer, which is also a telling. it will be to see business to business to consumer, see to be consumer to business, and the ctc- consumer-to-consumer. today we will continue in the next five models: be too e-business to employees, collaborative commerce- see commerce and mobile commerce, and commerce either name and e government. the first one is b to e- business to employees, b to e little. e is an e-commerce model in which an organization delivers services, information or products to its individual employees. b to e can help companies teamwork performance. let's see what importantly to eat operations are. the first one is online management. the second one is cooperate announcement and online supply requests, special employee offers, employee benefits reporting. so I think the the concepts is quite easy to everyone. like nowadays, if you register with some web service, for example, you are a beta comes member. if you log into your member account, you can see all the history you purchased from ebay, or you can just order online and you can write email and probably you can also see some announcement from ebay com. so e to e model: just move the concepts to company management. if you are an employee, you have your own employee account and you sign in the account with your ID and password and you can see a lot of announcements or you can make some requests to companies. also, you can see your benefit reporting, you can see your salary, this team and so on. so if you are running a company, probably you may want to consider b to e application to increase your manage management efficiency. ok, the next page. then we tok about see commerce. collaborative commerce does sin familiar to you. yes, in our first class we have introduced Boeing 787 Dreamliner collaboration example. it is a good example of c commerce. see commerce is an e-commerce model in which individuals or groups communicate or collaborate online. let's review the boeing case. boeing has many companies on main spots in the world to cooperate together to make an airplane. we can see they build different parts here in Asia and here USA and some in Europe. but if they want to work together and it will waste a lot of time on communicating and delivery, in order to reduce the communication overhead, Boeing use internet and useful collaborative software to improve productivity among collaborated punters located in different locations in time zones. okay, the next one: mobile commerce. ecommerce with mobile devices such as PDAs, cell phones, pagers, so on. um, any difference from e-commerce? no, but it has some additional challenges, for example. the first one: security. wireless devices usually has more security concerns. yeah, because it's radio, it's very open and any big guy can intercept the radio signal and if strop, your message possibly. the second one is usability: how to make mobile applications more user-friendly and more humanized. that's why we call I phone, HTC, galaxias, smart form, sna, RT smartphones, because we want we want them to be more humanized, more human friendly. the third one is heterogeneous tiknologies, because different companies have different tiknologies, for example, that HTC and iphone. they have different tiknologies. but how to solve cross-platform issues? so now everybody is familiar with android, android platform. it can solve the cross-platform issues. that's why enjoy so popular right now. the last one is best business model issues. yeah, because you have some tiknologies. the reason is that you want to make money, right, but in the past, few companies make money from m-commerce. but now it's the era. the era comes, the m-commerce era comes and people start toking about the business model and how to build effective business models to earn money from about phone users. yeah, so we will have some separate sections toking about m-commerce later. so this is a very short introduction right now. so the next one is either name. yeah, everyone is very, very, very familiar with either name, just like what you are doing right now. you are taking aterna class yearning. yearning means the online delivery of information for for well, for purposes of training or education. so i will give give you a very good example of cisco, the largest around her company in the world. cisco had many employees in. cisco has a very large and complicated router platform, right and everything for you. come to every new hire, new employee coming to Cisco. in the very beginning they have they have to learn a lot of things. so cisco has some solutions using either name. let's see how Cisco solution is. first, that makes either name as a mandatory part of employees job. so if you are employee, you going to, you come to Cisco. the first thing is that you need to take a lot of e turning classes and this e-learning classics they usually they offers easy access to e-learning tools by the web. yeah, so if you are a cisco employees, you will register member account and you sign the member account and you have free access to Cisco free learning resources. after you take the e-learning classes, Cisco will evaluate employees performance through non-threatening way. it's called non-threatening way, yeah, because the purpose is that they want you to turn, not going to tackle it. 10, but this still needs some evaluation metrics to a little bit like force you to learn, concentrate, okay. so if you fail, Cisco will give you some filters, precision learning targets and, of course, the enables managers to track manager, like what you learn, what have you learned? how have you done so far to to catch up, catch up, catch a bus, catch up 20 employees, yeah. so, and this is their solution- and SC, what's the results? it must have very good results, right? so Cisco, continue to invest some efforts on either name. now comes the cisco results. first, it costs 12,000 and 400 to develop an attorney course. remember is an e-learning course, not all the engineering courses of cisco and attorney course, because they they must have one attorney course as an experiment, right, and see how he works, that's it were, successfully, efficiently. so let's see the first learning course: performance. so he coasts curl thousand and four hundred dollars and in this course there are 17 senior engineers attended the course the first time it was offered and safe. well, twenty thousand and four hundreds. so we can see Cisco recovered the development costs in the sep. eight thousand dollars. yeah, so in the first shot, they save eight thousand dollars in one course with 17 seven years, 17 senior engineers attending in 2004, over 12,000 copper a sales people and 150,000 employees of business partners, and to found two hundred, two thousand, two hundred thousand independent students. we're taking courses as Cisco learning center. yeah, 17, you can save a thousand dollars. and how about this? this many people? yeah, we can see, the more people attended Cisco attorney courses, the more money Cisco saves, right, okay, the next one is egovernment. egovernment is ecommerce model in which a government entity, vice or provide goods, services, our information, from our to business or individual citizens. it includes government to citizens, which is G to C, government to business, g2b, government-to-government, g2g, government to employees, g to e. so the concepts are very similar to business. right in business, we see, let's be to see B to B & B to the. in government, you will become ji tusi, do to be g2g and g2e. after finishing toking about the category of e-commerce, then we will tell about e-commerce in a very more practikal ways. yeah, I introduce what ecommerce application exists in your life and we found that actually ecommerce exists in all areas just around your daily life. for example, ecommerce exists in travel and tourism, and we can see. the advantage of online travel are that they have free informati.
E-COMMERCE | ICT | FOUNDATION
E-commerce, is also known as electronic commerce, refers to the buying and selling of goods or services using the internet. It involves the transfer of money and data to execute these transactions. E-commerce is often used to refer to the sale of physical products online, but it can also describe any kind of commercial transaction that is facilitated through the internet. The term business-to-consumer (B2C) refers to the process of selling products and services directly between a business and consumers who are the end-users of its products or services. B2C became immensely popular during the dotcom boom of the late 1990s, when it was mainly used to refer to online retailers who sold products and services to consumers through the Internet. In this form of e-commerce, businesses must develop attractive electronic marketplaces to sell products and services to consumers. Many companies offer e-commerce Web sites that provide virtual storefronts, multimedia catalogs, interactive order processing, electronic payment and online customer support, For example, Dell, Amazoncom, Zalora and etc. Business-to-business, also called B-to-B, is a form of transaction between businesses, such as one involving a manufacturer and wholesaler or a wholesaler and a retailer. Business-to-business refers to business that is conducted between companies rather than between a company and individual consumer. For example, many companies offer secure internet or extranet e-commerce catalog websites for their business customers and suppliers. Producers and traditional commerce wholesalers typically operate with this type of electronic commerce. For example, Intel sell microprocessor to Dell. C2C is a commerce between private individuals or consumers. It is a business model whereby customers can trade with each other, typically in an online environment. C2C marketing has soared in popularity with the arrival of the Internet and companies, Private individuals or consumers- sometimes businesses- can buy from and sell to one another in an auction process at an auction Web Site or classified ads at portal websites, For example e-bay, alibabacom and lelongcom. B2G is the sale and marketing of goods and services to federal, state or local agencies. The examples of B2G transaction are business pay taxes, sell goods to government agencies and etc. G2B is when a government does business with other governments as well as with other businesses, For example, auctions, tenders and etc. It is the electronic commerce activities performed between the government and its citizens or consumers, including paying taxes, registering vehicles and providing information and services. C2B is the electronic commerce business model in which consumers can offer products and services to companies and the companies pay the consumers. This business model is a complete reversal of the traditional business model in which companies offer goods and services to consumers. We can see the C2B model at work in blogs or internet forums, in which the author offers a link back to an online business, thereby facilitating the purchase of a product for which the author might receive affiliate revenues from a successful sale. It is an electronic commerce uses an intrabusiness network which allows companies to provide products and/or services to their employees. Typically, companies use B2E networks to automate employee-related corporate processes. B2E portals have to be compelling to the people who use them. Companies are competing for eyeballs of their employees with eBay, yahoo and thousands of other web sites. There is a huge percentage of traffic to consumer web sites comes from the people who are connecting to the net at the office.
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Major Types of E commerce
[Music] major types of e-commerce. the several types of e-commerce in years today are classified based on the nature of the transactions: business-to-consumer, b2c, business to business, b2b, consumer to consumer, c2c, consumer to business, c2b, business to government, b2g, mobile commerce and commerce. [Music] business-to-consumer b2c. [Music] business-to-consumer ecommerce. our commerce between companies and consumers involves customers gathering information, purchasing physical goods that is tangible, such as books or consumer products, or information goods or goods of electronic material or digitized content, such as software or ebooks, and for information goods receiving products over an electronic network. it is the second largest and the earliest form of e-commerce. [Music] business-to-business b2b. b2b e-commerce is simply defined as ecommerce between companies. this is the type of e-commerce the deals with relationships between and among businesses. about 80% of e-commerce is of this type and most experts predict that b2b e-commerce will continue to grow faster than the b2c segment. the b2b market is two primary components: efj restrictor and a markets. companies using b2b e-commerce relationship observe cost savings by increasing the speed producing errors and eliminating many manual activities. Walmart stores is an example for b2b e-commerce. Walmart's major suppliers- Procter & Gamble, Johnson & Johnson and others- sell to Walmart stores electronically. all the paperwork is handled electronically. these suppliers can access online the inventory status in each store and refill needed products in a timely manner. in a b2b environment, purchase orders, invoices, inventory status, shipping logistiks and business contracts handled directly through the network result in increased speed, reduced errors and cost savings. b2b e-commerce reduces cycle time, inventory and prices and enables business partners to share relevant, accurate and timely information. the end result is improved supply chain management among business partners. [Music]. consumer-to-consumer c2c. using c2c e-commerce, consumers sell directly to other consumers. using the internet and web tiknologies, individuals sell a wide variety of services, products on the web or through auction sites such as eBay. calm and get agree or calm through classified ads or by advertising. consumers are also able to advertise their products and services in organizational intranets and sell them to other employees. [Music] [Applause]. [Music]. consumer to business- c2b- consumer to business- ecommerce that involves individuals selling to businesses may include a service product that a consumer is willing to sell. individuals offer certain prices for specific products or services. business to government- b2g- business to government ecommerce or b2g is generally defined as commerce between companies and the public sector. it refers to the use of the Internet for public procurement, licensing procedures and other government related operations. this kind of e-commerce has two features. first, the public sector assumes a pilot, leading role in establishing ecommerce. and second, it is assumed that the public sector has the greatest need for making its procurement system more effective. mobile commerce and commerce- m-commerce- is the buying and selling of goods and services through wireless tiknology, that is, handheld devices such as cellular telephones and personal digital assistants. japan is seen as a global leader in m-commerce as content delivery over wireless devices become faster, more secure and scalable. some believe that m-commerce will surpass wireline ecommerce as the method of choice for digital commerce transactions. this may well be true for the asia-pacific, where there are more mobile phone users. when there are Internet users, you [Music].
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CISS 100 E-Commerce S16
okay, I'm going to get started here. lecture module 11 corresponds to chapter 11 in the textbook, which is e-commerce, and of course, linux lab 11 is also associated with this lecture module. I'm going to provide some quite a bit of additional content. the textbook is very straightforward. what it doesn't address- and when we look at web design or e-commerce, is we have to address that business, society, IT triangle. but we also have to acknowledge marketing's component in this: developing a website. why am i doing it? and recall my statement that when someone comes, if you're just a content provider, if someone comes to your website, that is a transaction. they're giving up their time. so marketing does apply, regardless of what the purpose of your website is. so the internet, world wide web, ecommerce keeps evolving. recently we've seen the emergence of, or the application of, html5, which has really increased functionality, allowed for a further Taylor ization for customers, customization, a, IM, la, i, M, L stands for artificial intelligence, markup language. one of the things we're going to look at. one of the things the textbook doesn't address is the cost of e-commerce beyond. well, the textbook will state that it provides cost advantages or cost savings. that's not necessarily the case. in the past I presented that text. support customer service is pure overhead. I'm not selling in any additional products, but I'm paying someone to man a helpdesk. an e-commerce has actually exacerbated this. AI ml is a new mechanism to create chat boxes- it's actually called Alice Fox- to where you can have this chat box reference whatever documents it needs to reference or frequently asked questions and respond to customers or users without requiring a human help desk person. it is actually not difficult to implement. if you're going into web design, I would research this. if you want to ensure a job down the road, research this, because no company, few companies- are doing this and it really does increase responsiveness at a lower cost. by the way, should you want to develop one of these for a final project, that is acceptable. so ecommerce is integrated with web design. we really can't tok about one without toking about the other, so let's take a look first, as we often do. we need to understand the history. what is the evolution of electronic business? predating the internet, predating the world wide web? companies did engage an electronic data interchange- EDI. I'll give you an example. ford motor company wanted to buy tires from goodyear, but of course they didn't want to always call or fax their orders over, so Ford and Goodyear would get together and establish formats, conventions for exchanging this information electronically so that Ford could send an order of order to goodyear- four tires directly, say, to their purchasing- right into their database. so of course there's some efficiency there. the short coming it was one to one, so afford now wanted to do the same thing with Goodrich or Michelin. they'd have to sit down with Goodrich and Michelin and established conventions, standards. of course the web evolved now wave xml, so now for is able to do this generically. okay, so there's a category for price, specs, sighs, all of these things. so now I guess it can turn out a dime: order tires from Goodyear today and order tires from Goodrich or Michelin tomorrow using that frame, same framework. so again, ed, I was the predecessor to everything that is taking place and it was in place for a long time in the 60s or 70s. ed i evolved. moving on to the World Wide Web, the first content that was out there were the content providers. the first websites saw themselves as broadcast mechanisms very similar to radio and television, and we saw from the dot-com crash that that's not what consumers want it. they did not want another broadcast medium. but we can actually assess this from our web web design tenants that we looked at last week. remember, with web design, you must have clear value statements with every web site, otherwise people are not going to come. now, in the case of radio and television, there's clear value. right, I'm going to put up with the commercials, the advertising, so I can watch the show, news, sports and anyone watch the game- last night, by the way, unbelievable. so broadcast will work for radio. for television, there's clear value. there, we'll put up with the advertising to watch the show. this did not work for many websites. now did work for some- New York Times, CNN- but that clear value statement is reputable, relevant, up-to-date information. i will go to the New York Times. I'll ignore the advertisements and the banners and whatever, because I want to see the information. but I'm also New York Times is getting information out of that because they are seeing that my visit. they understand what my platform is. who knows? we're going to tok about social graph here shortly. organizations increasingly want you to sign in using your facebook account, google account. why? because they now can access your social graph. they have more information about you, which is marketing. so we're toking about e-commerce. we're toking about web design. we necessarily have to tok about marketing too, and again, we're a computer science curriculum so we don't typically take marketing courses. there are a lot of misconceptions about what marketing actually is. a lot of the late men out there- lay people think of marketing as advertising. that's not what it is whatsoever. marketing is defined as the desire, the need to understand the needs and expectations of individuals, so it's not just one way like advertising, it is two way. yeah, search engine optimization is very closely aligned with marketing. yes, because I need to understand what people are searching for. how do I get the information to them? so what I really have to do? there is a line like terminology, my text on amazed khloe ilysm, things of this nature. okay, so what we're toking about here, then, it isn't so much about building or discovering your mark so much as it is organizing your market into something that your program, your company can, can search you like I need to sell you know X widgets today. how do i go through this, this database, this, this group of people that I've gotten on my market and how to an end, and I'm trying to figure out how do I use what I know about all these people to sell excellence, it's actually both. oh, because I do need to identify the need first. I don't want to just come up with something and try to sell it right, I need to identify that there is actually a need for it and what our consumer expectations for the partikular product or service that I'm offering and how do I get it to them. and the Internet has really facilitated to take that, taking this to a whole new level. I've given the example in the past: radio ads. and again I'm toking to advertising, which which is just, you know, a tiny portion of marketing. but if we look at radio ads, television ads, it's very difficult for that marketer to understand if it's having any effect. right, I put our at a radio ad, my sales go up, my sales go down, my sales don't change. do I have any idea how effective that radio ad was? no, with the internet, very different. because if you click on that link, if you click on that QR code, I'm tagging, I know exactly where that inquiry is coming from and I actually I can take it beyond that night. I used chose the word inquiry very carefully because they may or they may not purchase that whatever you're presenting to them, and if they didn't purchase it, why- and there might be information in that web stream- those analytiks that can give me information on why they didn't purchase it as well. so, again, the internet and world wide web have taken ecommerce and marketing to a whole new level. so, content providers, again, every web site visit is a transaction and we're going to tok. about recall, last week I presented governance with I with websites. quite often websites are managed by the IT department, when what is the purpose of that website? quite often it's marketing its e-commerce.
E commerce Classification II 103
hi everyone, welcome to our e-commerce class today. my name is angeline wong. today we are going to continue e-commerce classification and this is the second part of e-commerce category. in the last class we have toked about b2b- business 2 business, b2c- business to consumer, which is also italian, b2b2c, business 2- business 2 consumer, c2b- consumer to business and the c2c- consumer to consumer. today we will continue the next five models: b2e, business to employees, collaborative commerce, sea commerce and mobile commerce and commerce, e-learning and e-government. the first one is b2e- business 2 employees- b2e. b2e is an e-commerce model in which an organization delivers services, information or products to its individual employees. b2e can help companies teamwork performance. let's see what the important b2e applications are. the first one is online management. the second one is corporate announcement and online supply requests, special employee offers, employee benefits reporting. so i think the the concept is quite easy to everyone, like nowadays, if you register with some web service, for example, you are ebaycom member. if you log into your member account, you can see all the history you purchased from ebay, or you can just order online and you can write email and probably you can also see some announcements from ebaycom. so b2e model: just move the concepts to company management. if you are an employee, you have your own employee account and you sign in the account with your id and password and you can see a lot of announcements or you can make some requests to companies. also, you can see your benefit reporting, you can see your salary listing and so on. so if you are running a company, probably you may want to consider b2e application to increase your main management efficiency. okay, the next page. then we tok about sea commerce. collaborative commerce does seem familiar to you. yes, in our first class we have introduced boeing 787 dream liner collaboration example. it is a good example of e-commerce. seacommerce is an e-commerce model in which individuals or groups communicate or collaborate online. let's review the boeing case. boeing has many companies on many spots in the world to cooperate together to make an airplane. we can see they build different parts here in asia and here in usa and some in europe. but if they want to work together and it will waste a lot of time on communicating and delivery, in order to reduce the communication overhead, boeing use internet and use for collaborative software to improve productivity among collaborative partners located in different locations and time zones. okay, the next one: mobile commerce, e-commerce with mobile devices such as pdas, cell phones, pages, so on. um, any difference from e-commerce? no, but it has some additional challenges, for example. the first one: security. wireless devices usually has more security concerns. yeah, because it's radio, it's very open and any bad guy can intercept the radio signal and, if drop your message possibly. the second one is usability: how to make mobile applications more user-friendly and more human noise. that's why we call iphone, htc, galaxy, as smart form, s-m-a-r-t smartphones, because we want them to be more humanized, more human friendly. the third one is heterogeneous tiknologies, because different companies have different tiknologies. for example, the htc and iphone. they have different tiknologies. but how to solve cross-platform issues? so now everybody is familiar with android, android platform. it can solve the cross platform issues. that's why android is so popular right now. the last one is business model issues. yeah, because you have some tiknologies. the reason is that you want to make money, right, but uh, in the past few companies make money from m-commerce. but now it's the era. the era comes, the m-commerce era comes and people start to think about the business model and how to build an effective business models to earn money from mobile phone users. yeah, so we will have some separate sections toking about m commerce later. so this is a very short introduction right now. so the next one is e-learning. yeah, everyone is very, very, very familiar with ethernet. just like what you are doing right now, you are taking your earning class. earning it only means the online delivery of information. for for what? for purposes of training or education. so i will give give you a very good example of cisco, the largest router company in the world. cisco have many employees and cisco has a very large and complicated router platform. right, and every employee comes to every new hire, new employee coming to cisco. in the very beginning they have, they have to learn a lot of things. so cisco has some solutions using e-learning. let's see how cisco solution is. first, that makes e-learning as a mandatory part of employee's job. so if you are employee, you going to, you come to cisco. the first thing is that you need to take a lot of e-learning classes and this learning classics they usually they offers easy access to e-learning tools by the web. yeah, so if you are a cisco employees, you will register a member account and you sign the member account and you have free access to cisco free e-learning resources. after you take the e-learning classes, cisco will evaluate employees performance through non-threatening way. it's called most retaining way. yeah, because the purpose is that they want you to learn- not wanting to take an exam, but they still need some evaluation metrics to a little bit like force you to learn concentrately. okay, so if you fail, cisco will give you some fail test, precision learning targets and, of course, they enables managers to track, manage, like how, what you learn, what have you learned? how have you done so far to to catch up, catch up, catch up with us, catch up the old employees, yeah. so, and this is their solution. and let's see what's the results. it must have very good results, right? so cisco, continue to invest some efforts on ethernet. now comes the cisco results. first, it costs twelve thousand and four hundred to develop an e-learning course. remember, it's an e-learning course, not all the e-learning courses of cisco's and ethereum course, because they they must have one ethernet course as an experiment, right, and see how it works. does it work successfully, efficiently? so let's see the first learning course: performance. so it costs twelve thousand and four hundred dollars and in this course there are 17 senior engineers. attended the course the first time it was offered and the safe. wow, twenty thousand and four hundred. so we can see cisco recover the development costs and accept eight thousand dollars. yeah, so in the first shot, they saved eight thousand dollars in one course, with 17 7 year 17 senior engineers attending in 2004, over 12 000 corporate sales people and 150 000 employees of business partners and 2 hundred and two thousand two hundred thousand independent students were taking courses at cisco learning center. yeah, seventeen, you can save eight thousand dollars. and how about this? this many people? yeah, we can see the more people attended cisco eternity courses, the more money cisco saves, right, okay, the next one is e-government. e-government is an e-commerce model in which a government entity buys or provides goods, services or information from or to business or individual citizens. it includes government to citizens, which is g2c, government to business, g2b, government to government, g2g, government to employees, g2e. so the concepts are very similar to business. right in business, we see that's b to c, b to b and b to e, but in government it will become g to c, g to b, g to g and g to e. after finishing toking about the category of e-commerce, then, uh, we will tok about e-commerce in a very more practikal ways. yeah, i introduce what e-commerce application exists in your life and we found that actually, e-commerce exists in all areas just around your daily life. for example, e-commerce exists in travel and tourism, and we can see. the advantages of online travel are that they have free inform.
Engage with Ecommerce, E13: What Omnichannel retailers need & fast! with KPMG's Paul Martin
so hello and welcome to a bonus episode of engage with e-commerce. after the last three months of running these webinars, we thought we'd run a special episode to kind of cap off this series, and what better way to doing so than welcoming paul martin from kpmg to join us today? welcome, paul, and a huge thank you for joining us. thank you for having me. as always, i'm joined by my co-host, eloise eloise pleased to tell the audience a little about yourself. hi, my name's eloise finch. i am run city selbyond. we are an amazon focused multilingual marketing agency. we help brands grow in english, french, german, spanish, dutch and english. thank you, and nathan lomax here. quickfire digital. we're an e-commerce focused digital transformation agency. we help clients maximize efficiency, profitability and scalability through the use of tik. so for those of you that have been on the engage with ecommerce series that we've been running since really april time, we've been covering all sorts of different topics around retail, around the high street and around how you can really get the most out of e-commerce. today we're going to sum up that series and kind of draw a line in the sand. this is the last one and this is with paul martin, head of retail at kpmg. so we've prepared a series of questions for paul and we'll run through those. i hope you'll get as much value as possible. this will be pre-recorded. that'll be launched as well to uh to our audience. so, paul, let's get started. i appreciate you're incredibly busy. the conversations i'm having with retailers currently they're all toking about this new dawn of retailing, if you like, after covid. so, as we ease out, everyone's looking at the long-term play, but i want to know from you, based on the conversations you've had, what do we think retailers need to focus on right now? look, it's a it's. it's a really good question, and the retail sector has had a very significant impact: uh, related to the health and now, increasingly, the economic crisis we are facing, and, if we take a step back, the uk retail economy is the 395 billion pound economy, and we believe this year, it will decrease by about six percent, but, of course, we have got two halves here. we have essential retailing that has seen a significant surge in demand. that part of the retail economy will grow both this year and next year. take food as an example: we believe that part of the market will grow by six percent. if i look at non-food, though, and specifically the apparel space. this is where we're seeing some of the uh, some of the least uh performance happening at the moment. women's wear, menswear, footwear, but also the beauty side of the health and beauty category has been very heavily impacted by uh the current circumstances. but going forward- and we are- we've classified the covid um outbreak into sort of four key phases. you had the react phase, which generally started once uh lockdown measures were imposed, not just in the uk but also in other markets around the world. we then moved uh into the resilience phase. so how could you trade in a lockdown environment? and then you moved- and this is where the uk is today- into recovery uh, but in that context you then move into new reality and uh, the. the reality in this context is: is that recovery and new reality are happening in parallel and many retail leaders are saying to me: we thought we had two to five years to transform our businesses. covid has accelerated many of the trends that we have seen pre-covered. we've probably got 12 to 24 months and i would highlight four key themes in that context. the first theme is all around business model. the traditional retail business model is increasingly outstated, if you think, for hundreds, if not thousands of years, the retail business was: you source great product, you ship product and you sell it, and if you're good at it, you open more stores. it's not as easy as that anymore and going forward, organizations in the retail space are going to have to re-engineer that business model. in that context, the second key point is cost of doing business. retail has for many years been a low margin business. in markets like the uk, increasingly we are moving towards a no margin business, so therefore re-engineering your cost base is becoming more and more important. in essential retail, even with the spike in demand, i still believe 10 to 20 percent of costs need to be taken off uh the cost base, and in non-essential retail it is even more extreme. 20 to 50 percent of costs will need to be eradicated over the next 12 to 18 months. we then move into the purpose agenda. if you think back to the 0809 financial crisis, pre that crisis, the sustainability agenda had gathered pace, but it fell off a cliff and broadly took five years to reappear. that's not going to happen this time. purpose sustainability, the broader esg agenda, is going to remain a top three board agenda. and the fourth key point is the customer. for many years, alongside the. you source, you ship and you sell great product. in parallel to that, you also had the uh, pre, uh sort of defined thinking: you have great product, you have a great location, you open the doors and they will come. but the reality today is, if you do not know who she or he is specifically competing against online and other growing channels, you have a significant disadvantage. wow, how's that? a starter for 10.. and i mean for the, the statistiks you've just um come up there about the, the cost, um cutting- if that's the right word- um on both essential and non-essential retail. that's pretty astounding and, based on the those predictions, where can we expect to see retail heading if you're taking away such baseline costs? what's going to have to change? well, let me, let me just sort of answer the cost question first and, as you know, rightly highlighted, very rightly highlighted in that context, taking 20 to 50 percent of cost out is not tinkering around the edges. and look, i, i am a retailer by background and the cost agenda has always been a key agenda for the retail sector over many years, and some retailers will tell you we've always been lean. some will also say: lena, mean is something that was part of our agenda. but tinkering around the edges is not going to be good enough going forward and i would argue it's going to be four key areas that retailers are going to have to address when they're looking at costs. the first area is cost of goods. if we think of how significantly ranges have grown over recent years and you go back to pre-covid and you look at which types of retail businesses were successful, you had on the one extreme those offering unlimited ranges, mainly the platform ecosystems, and then those lists are offering very curated limited ranges. that's where we saw the biggest success. everybody in the middle that was trying to cater for unlimited on the one side, for limited and match prices on the limited ranges on the other side, felt it very difficult to compete. so going forward, i believe we will see range reductions of around 30 with most retailers and that will improve working capital positions. it will improve supply chain efficiencies. it will enhance store operations- if you think of replenishment, but if you also think of many organizations having a very large workforce dealing with a long tail of suppliers, that can be optimized. the second key area- and of course we've read an awful lot in the media about this- is real estate. i, as point number one, believe that we have 25 too much retail real estate in the uk. i highlighted we need to reduce that by 2025.. i think this will now happen by 2023, so that's going to be a key point. but the second point is also the rental business model. it's broadly governed by a act from 1954- so somewhat outdated- which guarantees- uh, broadly upward rental reviews every year. that is not in line with where the market is today. anymore demand and the structure of retail has changed, so therefore the rental business model has to change. the rent to sales equation is completely out of kilter and in some cases, 30 percent we often hear from