In Favor :-
- Growth of E-commerce is much faster than growth of sales in physical stores in retail sector.
- Online shopping is very convenient and time saving for consumers, because products will be delivered at our homes.
- E-commerce platforms are bringing more and more features like delivering daily usage items for the month, same day shipping etc.
- At present, 60% of the world’s population is not connected to internet. Once they connect to online, E-commerce’s growth will be more.
- Less capital investment and operation costs make online shopping sites more profitable. Hence they can provide more services to customers.
- Online stores are providing more flexible payment options like wallets, coupons & EMI etc.
- Some physical retail stores are shutting down as they find it difficult to compete with online stores.
- Finding things in online stores is much easier compared to physical shops.
- The need to stand in queue to pay the cash will be eliminated. This will be an advantage in user experience.
- We can buy any product form any corner of the world through online stores, even if we live in a remote area.
- Though the growth of online stores is faster, 90% the sales of retail items is being done by physical stores.
- The biggest advantage of physical stores is the facility to touch and try the products, which is pretty difficult in E-commerce.
- Physical stores enables the owner to have stronger customer relations, when compared to online shopping sites.
- At present, online stores are offering many discount deals to attract customers. Once they stop discounts, people may not choose to buy the same things online.
- Returning and exchanging things in online stores is a difficult process compared to physical shops.
- In online stores, many will just check products and few people buy. So the conversion rates will be low. But in physical stores, conversion rates will be high.
- With the constant innovation in the technology sector, online shopping will become safer than the present.
- E-commerce is very innovative, when compared to physical stores.
- While buying things from online stores, we have to put up with sponsored products ads, popups etc.
- More and more physical stores are integrating with E-commerce sector.
- Physical stores are called as ‘Brick and mortar system’.
- Consumers are preferring online shopping for some goods like furniture & office supplies, and preferring physical stores for some goods like groceries & food items.
- As anyone can sell in online store, Low quality products are also being sold there.
- Photos in online stores can be deceptive.
- As cyber attacks and malware are increasing day by day, people are fearing about the safety of using online shopping.
Room for improvement :-
- E-commerce :- Online stores need to take steps to eliminate substandard products.
- Physical stores :- Brick and mortar stores need to change with the changing societal needs. It should adapt innovative changes.
Physical stores will not go away for sure. Instead the present trend indicates that physical stores and E-commerce sector will work together in a win-win situation.
Afterwords :- Do you prefer online shopping over shopping in physical stores? What do you think about the future of e-commerce. Express your thoughts in the comment section below.
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