Online Retailing Takes Over Traditional Retail
Both traditional and online retail serve the same purpose but as the advancements in technology is increasing day by day, e-commerce is growing faster than buying things the traditional way. People are more likely to purchase goods and services through the internet rather than go outside to purchase from physical stores.
According to a recent update, overall 51% of consumers prefer to shop online while 49% prefer to go to traditional stores. The total percentage of products and services purchased through online retailing is rising day by day. More than 60% of youth think digitally and want to retail online. On the other hand, online retailers have a whole digital world in which they can target their audience while traditional retailers have limited geographical areas to target the audience.
Some Key Benefits of Online Retailing
Large Geographical Area
Online retailers have no geographical boundaries. Retailers can market their products globally and even internationally, and can generate more sales than traditional retailing .
Eliminates Location Barriers
An online retailer doesn’t require physical assets or a physical area that a physical store requires. Without going anywhere, customers can buy anything they want.
Great Sales Reach and Customer Accessibility
Through the online retailing, retailers can reach a larger amount of sales even in the short time. At the same time, customers also get a great experience due to easy accessibility of products and services.
Remain Open All the Time
Customers can buy products and services whenever they want. There is no time limitation. Most online retailers provide their products and services 24 hours a day and 7 days a week.
Keeping Customers Up to Date
Customers get every new update regarding the brand’s products and services.
Disadvantages of Online Retailing
Delay in Delivering
The delivery of products and services to customer’s doorsteps takes 3-4 days.
Without face-to-face interaction between customers and retailers, online retailing can be very difficult to establish a trustful relationship with customers.
Lack of Physical Contact with the Products
Customers can’t touch the product or try them.
Online retailing is becoming more and more powerful in this technological era. Many youngsters are now using e-commerce and prefer to shop online.