Who doesn’t love shopping? Be it online or offline, shopping and the retail industry are being disrupted by technology innovations affecting consumer habits and forever changing the retail landscape. Thanks to the rise of digital technology, the speed of delivery, live chat, and free returns, consumers are rapidly making the transition from shopping at the malls to shopping online. But did you that there are still consumers people who prefer the tactile approach of shopping in a physical store? Here are 6 Facts You Might Not Know About Online Versus Offline Shopping.
Is e-commerce slowly killing brick-and-mortar stores?
The many reasons why consumers are moving away from shopping at the mall – the convenience of a store that is always open and delivery to your doorstep – are the obvious reasons, but to fully understand check out this fascinating infographic from Shopping.FM. By looking at some of the, we can get a better idea if e-commerce is slowly killing the mall, and if in time, shopping online may be the only option that we have!
1. In the USA, offline sales are still ten times bigger than online sales. However, the online shopping business is growing 3 times faster! If online shopping keeps on growing at this rate, then in a few years it is likely that online shopping will overtake offline and become the number one way that people buy things.
2. Online shopping allows people to read reviews about the product before they make a purchase. In the USA, 54% of customers read a review before they make a purchase if they are shopping online, compared to 39% of customers that read a review when they make a purchase from a store. This shows that shopping online gives readers an easier way to do research about the product they intend to buy.
The rise of the informed consumer – Did you know that the most common products consumers research before shopping are appliances, electronics, men’s apparel, toys and games, and kitchen goods?
3. There are many advantages and disadvantages that come with shopping both online and offline. Some of the advantages that come with shopping online are that it saves both time and fuel. It is available 24 hours a day, it is easy to research the products, there is often more variety, and you don’t have to queue when it is time to pay.
4. Online shopping also has a few disadvantages that online retailers are working hard to negate. Some of these include the shipping costs that can become quite pricey, especially if an item has to be returned in case it has been damaged or if the wrong item has been sent. Additionally, the customers lose the tactile experience, and often you are dealing with an unknown vendor.
5. Consumers that shop online prefer to use their mobile device versus a desktop. There are many good arguments for both online and offline shopping, and shoppers preferences are increasingly moving to mobile first.
In fact, 58% of global retailers have mobile phone apps with purchase capabilities, and 83% of global retailers have websites optimised for smartphones and tablets.
6. Often consumers will use a shopping trip as a social event, and many people just enjoy spending time wandering around in the malls. This is something that can’t be replicated with online shopping. Online shopping is more likely to be used for convenience, if you need something specific, quickly, or if it is something that you are ordering from another country. It is also advantageous for people who are short on time and need to get something ordered quickly.
It is unlikely that brick-and-mortar storefronts will vanish completely from the retail landscape, but we are already seeing the changes that online shopping and disruptive innovations like mobile payments and digital wallet are having on retailers everywhere.
Article submitted by Voice Bold