Is Online Shopping The Future of Retail?

Are you one of those who anticipate 11.11, 12.12, or any sales from mobile shopping apps? Shopping is one of the adult's errands, whether for basic needs or vanity.

E-commerce makes shopping so easy and convenient! You can buy almost everything online- from clothes, books, even groceries, and a lot more! But what happens to physical stores with the notable growth of online shopping? Will they soon be forgotten and would that mean online shopping becomes the future of retail? Let's find that out.

The Growth of E-Commerce

Electronic commerce, more likely known as e-commerce is the act of trading goods or services using the online platform. It comprises all the types of buying and selling online like through a website, mobile app, social media, etc. 

Online retail wasn't perfect when it launched many years ago. Over time, the economy has grown and improved, and so has the e-commerce industry. Many consumers have adapted to online commerce, especially during the COVID-19 pandemic when there are restrictions to going out. It paved the way for consumers to shop within the confines of their own homes. We are seeing online retail continue to evolve in the future. But how is it different from the physical stores?

Online Store Vs Physical Stores

Do you prefer buying the things you need online, or would you rather do in-store shopping so you can see the product in person? Let's take a look at the comparisons between these two.

Online shopping

So what makes people favor e-commerce?

Convenience

E-commerce makes it possible to meet your demands with little effort from the customer because there's no need to go outside to shop physically. 

Payment Method

The online payment option has also added to the charm of online shopping. There are plenty of ways to pay online- you can pay by bank transfer, e-wallet, or credit card. 

Accessibility

Online shopping started with websites, and has now shifted to mobile phones. Almost everyone now is a smartphone user, making purchasing online a lot easier right at your fingertips. It won't take a while to check out the item you wish to buy. 

Fast shipping

With online shopping, distance is just a number. Gone are the days when you couldn't get that product you want because it's not available in your location. Now that everything seems connected, you can purchase and sell products without worrying about the location. 

Interactive shopping

Just like shopping at a mall, there's also live shopping in e-commerce, where you can interact with the seller in real time. During live selling, shoppers can chat with the seller if they have questions about the items. So, it's pretty much like shopping in person, right?

Opens opportunities for startups

E-commerce helps small business owners who can't afford a physical store yet. They can take advantage of the online platforms to build their business first. 

In-store shopping

While e-commerce is the newer trend in shopping, many still prefer in-store or physical shopping rather than doing it virtually. Here are the reasons why buyers love to shop in person. 

Assistance from staff

While online shopping offers assistance for customers' concerns in many ways, many consumers would prefer a personal interaction with the salesperson or an actual staff. 

First-hand experience 

Probably the very edge of physical stores, the touch and feel of the product are huge factors in shopping that online stores cannot offer. With in-store shopping, there's the opportunity to check the quality of the items; just like how you fit the clothes in the fitting room to check if it will look good on you.

No waiting time for delivery

There's that instant gratification in shopping in a mall because right there and then, the product is yours after you pay for it!

No shipping fees

Shipping fees can be costly, especially when you order a large item. If you buy a product in person, you save money on shipping fees!

The Future of Retail

In-store shopping was the center of the retail industry for the longest time; until e-commerce entered the picture and attracted many customers. Over the years, digital retail is consistently growing; it's projected to make up a big percentage of retail sales globally. People of all ages have become dependent on the Internet whenever they need to purchase something because it's a convenient way to shop. By 2050, online shopping may represent around half of the sales worldwide.

Although the future is bright with e-commerce, there will still be consumers who will prefer the face-to-face interaction, the physical touch, and the immediacy of in-store shopping. There's also this concept called omnichannel retail wherein businesses or stores encourage customers to use their preferred shopping platforms. It's not simply offering different channels like email, website, and social media. 

Omnichannel retailing is unique in that it connects these channels to make it seamless for the customer to switch from one channel to another. That means that all their platforms are integrated. For example, they can check and shop for the item online, and they will pick it up in person. It can also involve multiple channels based on the customer's preference to create a personalized experience for them.

Omnichannel retail makes it possible for online and in-store shopping to work together to offer a good shopping experience tailored to the customer's liking. 

While online shopping continues to expand, there's still a high demand for in-store shopping. The tangible experience makes it particularly vital and distinctive from online shopping. Some items are better purchased in person so you can inspect them first, like appliances, footwear, clothes, perfume, and cosmetics. There are no fitting rooms in online shopping, after all. 

Moreover, the interaction with the staff makes it more engaging and personalized. The human factor is a big plus in shopping. Thus, in-store shopping won't likely be a thing of the past, and we're foreseeing a future where these two will continue to lead the retail industry.

For quite some time now, online shopping has been favored by many because of its convenience. While e-commerce has already existed years ago, one of the biggest shifts from physical shopping to online shopping was during the COVID-19 pandemic because people can only go out for limited reasons. And even post-pandemic, it remains a preference for many because of its convenience. 

The future does seem bright for e-commerce, but it doesn't translate to the downfall of in-store shopping not only because of the personal interaction of physical shopping but also because many customers still favor checking the condition of items in person first.