E-commerce or online buying and selling of products is experiencing an matchless expansion for over a decade. From a very less user base to almost one third of the population living in the major economies has made internet a global sales channel for commerce.
Without a doubt, e-Commerce has not captured all the industries but, it is rapidly taking over the traditional commerce. The benefits of e-Commerce have made a huge impact on our lives. Especially for physical stores, e-Commerce has emerged as the future of retail.
If we talk about the advantages of internet, well there’s a lot to say. But specifically if you observe the changes and effects made by e-Commerce, there are it has a lot to offer. Some people believe that e-Commerce is killing conventional commerce. But, what if a store is surviving in physical market and lacking resources to compete? E-Commerce can be a ray of hope for such sellers. Internet is also full of retailers but what separates the one from others is how well they represent and how effectively they communicate with their customers.
For those who are running brick mortar stores, having an online store is an additional advantage and it pays off. Connecting with thousands of potential buyers is something e-Commerce can give in very less time. Such popularity and growth can be seen with e-Commerce which an average retailer with just a physical store can only dream of.
What makes e-Commerce more popular among customers is the ease of access. You can’t tell everything about each product to customers through your physical store, Especially when you’re not around. What about those night hours? If you are one of those 90 percent sellers who do not run 24X7 store, e-Commerce is something that can help you talk about your products all the time.
Additionally, the ease of managing and selling products within a small fraction of cost and time makes e-Commerce a wise strategy for sellers. Not all sellers have big storage facilities and resources to manage a physical store.
Assuming that the current growth of e-Commerce will remain more aggressive in next several years, the socio economic impact will result in disappearance of hundreds of thousands of shops in towns and cities. A large number of people suggest that the window shopping at physical stores and malls will disappear and people will more likely to shop online. Well, if you observe the change, people are connected with many on social media but they don’t even know their neighbors.
The growth of business world is strongly connected to a passionate production of new goods. Who will get more benefits in the market and who will gain more customers in this scenario? How many people will companies and stores hire to adjust the decreasing demand and production? E-Commerce is making everyone think about these major changes and it is wise to join the bandwagon in a unique way.