People are increasingly inclining towards E-Commerce instead of physical stores.
Are physical stores really dying because of E-Commerce ?
Due to its enormous population as well as the rising number of internet and smartphone users, India has a lot of promise for E-commerce . There appears to be a direct correlation between the rise in internet users and online sales. E-commerce is gaining grounds in the marketplace because customers have benefited greatly and their buying habits have changed over time. Customers now have the freedom to shop for the most outstanding products from any location in the world.They are now able to shop whenever it suits to their needs. Customers now have an access to a vast array of products for comparison.From the point of view for businesses, E-commerce has proven advantageous for firms as transactions are no longer restricted by regional boundaries providing greater chances for development. Businesses found it simpler to market and publicise their just launched store, thanks to the pay-per-click system. It draws customers in by offering discounts and coupons. Also, dealing with customer's difficulties and closing the sales has become simpler.
Despite easy accessibilty through E-commerce , local retailers will not be wiped off entirely by the impact of E-commerce for the following reasons :
The buyer's proximity to the retail outlet gives them a choice to touch and feel the merchandise.
The reliability aspect for customers is the one-on-one support provided by vendors while they are making purchases.
In contrast to online retailers, physical stores continue to represent trust for some shoppers.
Cyber frauds and internet scams are not prevalent in Brick and Mortar establishments.
Since the internet is not used for buying, personal information is secure.
In Conclusion, we can argue that E-commerce is unquestionably outpacing more established commercial methods. However, bricks and mortar retailers won't disappear entirely in any case. If you run a physical store, your company's prospects of surviving in the marketplace entirely depend on your industry. The hybrid model is what E-Commerce analysts suggest as the industry's future, where retail will operate as a single,integrated business, offline and online, your traditional stores can benefit significantly from an omnichannel company presence, which will also increase the business reach.
Source : https://autofintechs.com/are-really-physical-stores-dying-because-of-e-commerce/