The Impact of the Internet on the Retail Industry : A Case Study of the Clothing Store, J.Crew
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With the creation and popularity of the Internet, shopping has been forever changed. Consumers can easily shop online with a device connected to the Internet wherever they want And whenever they want without the tedious aspects of travel. This has altered the way in which many retailers, such as the clothing retailer J. Crew, conduct their business. The purpose of this study is to analyze and apply key economic theory and concepts such as product differentiation and monopolistic competition to examine the ways in which J. Crew has been affected by the creation of the internet. This study concludes the internet has had both a positive and negative impact on J. Crew. The internet has created a cheaper form of advertising and branding for the company and also increased revenues by way of more online exposure to the international marketplace without having to have a physical location. However, the internet has also created a lot more international competition and made it difficult for consumers to see the quality of J. Crew clothing, which has hurt the company significantly.