Large brands are not immune to the soaring pressure of e-commerce – even brands like Radio Shack are experiencing the crunch and closing their bodily doors.
Based on the latest reports, the expansion of the number of shop counts has declined by under 3%. It is not much at this point, but you definitely can’t disagree with the reality that the existing traditional shopping model doesn’t enjoy its demand.
Forrester Research estimates that internet sales will increase by 10% by 2019 compared with 6.1% revenue within 2014. This shows a growing number of approximately 3% – a sure indication of proof of the e-commerce expansion.
What are the factors that would make In stores obsolete in the coming future?
You can get something faster online at exceptional speed. You can even shop online for furniture and it would be shipped to you. Even if you cannot find the product and brand name in your search online, there are similar goods with many choices served by the online retailer. This will make some online purchases economical and far easier for shopping online vs. in-store.
- Online Shopping and Social Platforms:
There are no marks for guessing why Facebook, Twitter, and recently, Pin- Interest, decided to incorporate “Purchase” or “Buy Now” buttons in their respective platforms. The online shopping business is bound to increase as the target audience increases, increasing shopping online vs. in store.
- Customer Service Online More Proves a Better Match:
The primary reason why a customer chooses to visit a traditional store is the Customer service he gets there. For this reason, many online retailers have created online chats for online stores of theirs. Herein their trained employees are always the web to interact with clients and reply to their questions about a specific item or any other concerns. Similarly, websites are generating FAQ pages for buyers to effortlessly access to get their common questions answered, including queries on online shopping vs. in-store shopping pros and cons.
- Price Comparisons:
The web nowadays provides straightforward access to whichever model you choose, and mobile phones being the fastest to price comparisons. Armed with this information, they travel to the shops but would never find the prices compatible, and it’s one more purchase online, which eventually takes place.
Online sales vs. in-store sales statistics say that there has been a lot of fine-tuning in the way purchases are made over the past six months. 50% of the shopping population has prioritized their needs and curtailing ‘Wants’. 42% engage in practical purchases, and 36% are aware of the budget constraints as they continue to consider online shopping vs. in-store shopping pros and cons.
- Comfort of Home:
One cannot emphasize enough the importance of shopping but visiting the store and making your purchases does swallow time and makes one tired. With the market evolving towards E-commerce rapidly and modern society becoming ever more digitized, a significant shift in just about all areas of life is happening to move from the virtual world’s truth, plus shopping isn’t any different. With online wholesalers and e-commerce shops as Alibaba offering logistical and financial efficiency, there’s increasingly less need to leave home to shop and becoming more tuned towards shopping online vs. in-store.
Online Shopping vs. In-store Shopping Pros and Cons:
Online shopping can be an excellent resource for achieving and saving money through their purchasing choices. Internet stores are competitive with almost all competitors, and as a result, the prices get driven down.
Price-comparison sites are for those bargainers, which makes hunting a lot easier. Also, a review of products from the common purchaser is available on the products.
The fact is that online shopping vs. in-store shopping pros & cons exist. It is not lopsided as one might view it from their perspective.
Here are such Pros & Cons:
Online Stores Pros:
- The whole world can access your products.
- New customers would ring every day.
- Costs are comparatively lower, thus allowing better online prices vs. in store prices.
- Open around the year, which is not possible in retail online vs. in-store
- Sales offer decisions that can be taken overnight would lead to better online prices vs. in-store prices.
Online Stores Cons:
- Physical inspection is ruled out unless the product is delivered.
- No charm for bargainers
- Fear of cheats online
- Faulty products take a longer duration to be replaced
- The advantage of Tax drops does not cut the price.
- Money refund issues arise when the price of a product has dropped within the warranty period.
- Customers like to see and feel the product, which is not possible in retail online vs. in-store
- Returning the product to the vendor is far more comfortable.
- Customers are loyal, which would not happen in retail online vs. in-store.
- Customers are confident about their legitimacy.
- Not all products can be sold online. Forex. Cars.
- Higher pricing
- The shop is not open all the time.
- Limitation in storing products.
Online Shopping vs. In-store Shopping?
When it comes to deciding on online shopping Vs. in-store shopping, the majority opt for online shopping. Several factors backup this decision: they would have weighed their online shopping vs. in-store shopping pros & cons and decided.
Those factors must have included these questions;
- Savings in fuel is more in-store vs. online?
- Time-saving due to traffic is more in-store vs. online?
- Avoiding air pollution is possible by shopping online or in-store.
- Car parking issues are more in online shopping Vs. In-store shopping?
- Ordering from the comfort of home is more in-store vs. online?
These advantages must outweigh the following, including online prices vs. in-store prices.
- Feeling the risk of making your credit card details to the third party is more in shopping online or shopping in stores
- Returning the product and bearing the loss of shipping charges is in shopping in-store or online.
- Loss of time to get the product replaced in case it’s an emergency purchase.
Statistics on Online Shopping vs. In-store Shopping
Merchants have a sale ten times more than e-commerce shops. The following statistics state online shopping vs. in-store shopping, those brick and mortar retailers are keeping out, but e-commerce is gaining fast.
Online shopping may come down hard on retail shopping but can crush it. Both are bound to coexist even though it would be lopsided.