Shopping online has grown and is continuously being monitored. The growth in smartphones has contributed to this heavily as it now easier to shop online than it was before. Many millennials prefer shopping online as opposed to walking in store and setting up an ecommerce store being so easy, it’s only right to wonder, is the brick and mortar store dying?
Having an online store is definitely more cost-effective than having a physical store. Fewer overheads, less things to worry about, and selling online opens up better personalisation for customers thereby encouraging further sales. Online shops such as Feel Unique and ASOS only have on online store and do very well.
On the other hand, there are still those who want to see a product, test it out, and actually see it before purchasing. Furthermore, a large group of people tend to research products online and purchase offline. They can read reviews, spend more time on looking for the right product to suit their needs, and can compare multiple options. An individual might decide, post researching, to actually go and look at the item in person to see if they like it. This is a common practice when buying electronics.
Many brands, especially clothing companies, have a presence online and offline. Many brands use this to their advantage. When purchasing online, for example, a customer might not be eligible for free delivery and they may decide to actually collect the item from the store. This means that they’d have to walk in to the store and may actually end up buying more as they can be easily enticed. Similarly, brands encourage online buying as a way to learn more about their customers, collect data, and target their marketing campaigns. This can be done by collecting email addresses on purchase or offering a coupon that’s only valid for online purchases.
Keeping all the above in mind, it doesn’t look like physical stores will be dead anytime soon.
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