CLOSING STORES IN MALL AND EXPLOSION IN ONLINE STORES With the evolution of modern technologies, consumers around the world are adopting those which are more favorable and easier to them. With the advent of internet around the globe there have been many trends which have been set in real world. From little daily routines to high class business routines, internet has its prominent role. Some of them are really productive and favorable and some of them are de-productive and does not play any good for the world. One of the influential changes which have been prominently observed from recent years is the drastic growth of online shopping trends. The word of concern is that online stores are getting main stream over the stores present in shopping malls. There have been tremendous …show more content…
Firstly, the availability of online stores 24/7 has also played a great role for their growth over the stores in malls (freshgraphics). They have availability of goods at home and have any easy access to variety of consumer’s goods. People eventually find it easier to buy online than by going physically to the place and then make a choice. The increased trend of transactions through debit and credit cards has also helped online business to grow. It is profitable for both the buyer and the business owner to run online stores due to its less initial and running cost for the owner and it also serves for the buyer because it saves time and money in a sense too. There is no any restriction on buying limited variety of products online. There are numerous giant and smaller online stores for different products that the consumers are searching for. The efficiency of the consumers while buying online is increased (Cheema). Because it saves travelling time, the ease of picking the goods and provides variety content at one step
According to MarketLine, the world online retail market expanded by almost 18% in 2010 and is predicted to reach close to $435 billion in sales. The market is expected to reach a 90% growth by 2015 and exceed $827 billion in sales. Listed in an article “Ecommerce Growth Statistics”, the average amount spent by each consumer is expected to rise from $1,207 per year to $1,738 per person by 2016. That is a significant increase. That shows that people prefer to shop online than going to the actual store in today’s society. Shoppers will spend on an average of $327 billion online shopping in 2016, which is about 45% from $226 billion in 2012. It is very evident that consumers will drive ecommerce into the future; especially e-retail. In just a few years, purchases online will be more profitable than ever, with others products and services available to purchase such as mobile and social allowing consumers to shop to their convenience. For retailers and
The Internet has changed the way we do virtually everything, including the way we shop. However, shopping is not the only thing that has changed. In the last decade we have changed the way, we apply for loans, study, and even plan a vacation. Doing any of these things would have been impossible a few decades ago. At present, online banking, paying bills, ordering new services, and shopping online have become part of our daily lives. Traditional brick-and-mortar stores have been around much longer than online stores, but we cannot deny that online shopping is giving the traditional stores competition. Many consumers still choose to shop at regular brick-and-mortar stores because they like to see and
Online purchasing is becoming more and more practical thing for contemporary customer. It is explained by high internet penetration in every country, lower cost than in retail network, door to door delivery. Internet plays an important role nowadays; therefore it creates a new market, which sometimes is quite difficult to measure. Online shopping is different from the B&M shopping due to the fact that there is no physical presence of goods, from other standpoint internet is able to sell way more services and motivation and decision making process directly connected to the feedbacks.
In 1979, Michael Aldrich gave birth to an idea called online shopping. This idea is a form of electrical commerce in which buyers can directly sell to their consumers without any help of an intermediary and this communication would happen electronically. This simple idea has turned into a trillion dollar industry making it possible for the average Joe to order something online and get it delivered to his/her door step from the seller, eliminating the need to go to a shopping mall to buy new things and overcoming the geographic limits. Nowadays, shopping can be the in the comfort of one’s home making this activity not to be obligated with going to a mall. Also it has had huge impacts in our society, economy and us humans. The online shopping industry has changed the world in drastic measures some good and some bad, nonetheless we continue to shop online increasing the usage and dependency. We as the people have made innovative advances in shopping, we use online shopping in which one can get anything one desires delivered right to their door step with a use of a computer or even a phone. The social impact of this new age of technology has been tremendous and also the different strategies used by the online retailer to convince the public to buy more.
Supermarket e-commerce stores that have altered business practice grow very fast. The popularity of online supermarket increases every year. Keynote’s study (as cited in Hand, Riley, Harris, Singh, and Rettie, 2009, p. 1205) explain that in 2006, the percentage of online supermarkets are higher approximately 35% than previous year. It could be that customers will shop online only in the future if the popularity of traditional stores go down. In addition, many supermarkets such as Walmart, Coles, and Giant are starting to build e-commerce. Online supermarket grow
The aim of the research is to find the reasons for the expansion in use of online shopping and the factors that contributed to this growth.
Online shopping is a modern concept which has grown in popularity with the rapid global growth in e-commerce. Apparently, many customers are attracted to this new concept of shopping because of the various benefits and offers of the internet. Online shoppers can enjoy the opportunity to shop at any time whenever convenient using an electronic device without the pressure of going to the traditional brick-and-mortar stores. It also allows browsing through seemingly never-ending options for merchandise or products not available in local stores and can let customers evaluate the different online stores to make comparison between items and products, their brands and prices which is difficult and time-consuming
As a ‘fundamental objective ' is about the convenience of online shopping. They are comments, online shopping is easy to find trade from different suppliers at home without having to go to the store. So, it will save you time, then shop in a store, in a retail store you have to go out to a store to another store. In addition to the convenience, customers can shop online without any time limit. You can search the World Wide Web online from Monday to Sunday, is open all year round 24 hours, anytime. It is also convenient for customers to share information through chats or discussion forums, to help others make better buying decisions. This is because the Internet a wide range, customers allow stores around the world, achieving great Internet sales, and comparison shop from the comfort of your home. Online shopping convenience to remove restrictive customers shopping in a store or purchase items they must be based on what is available locally. Online shopping at home than to spend time in places, gathered together more safely. This idea would also apply during peak seasons, such as the lunar New Year, Hari Raya Puasa, Deepavali and avoid large crowds during the Christmas holidays. In this way, it may lose the shopping for outdoor fun. In – store shopping could make social connections than that shopping independently
This research project was carried out to identify the reason for popularity of online shopping, to describe why eBay and Amazon became successful without having a High Street store, to compare eBay and Amazon in terms of revenues and customer’s opinions and to develop ideas on how they could improve their performance
Online shopping has grown in popularity with the rapid global growth in e-commerce. Apparently, many customers are attracted to this modern concept of shopping because of the various benefits and offers of the internet. Online shoppers can enjoy the opportunity to shop at any time whenever convenient using either a mobile device or a computer or laptop or tablet without the pressure of going to the traditional brick-and-mortar stores. It also allows customers to browse through seemingly never-ending options for merchandise or products not available in local stores and can likewise compare the different online stores and can make easy comparison between items and products, their brands and prices which
Nowadays with the ever rapid development and increasing popularity of the information technology, shopping on the internet has been a fashion especially among the youngsters. But some people think brick and mortal stores are better than online stores. In my opinion, online shopping has more benefits in modern capitalist countries. Although traditional shopping can buy merchandise directly, online shopping is not only more convenient for people to buy it, but it is easier to compare goods than traditional shopping, and it also promotes economic development and promotes the development of other industries.
Secondly, Storefront businesses should open more branch shops because it is easy for customers to go to the shop nearest their home and they will see the real product after which they can make a decision to buy it. The weakness of online shopping is that you have to be really careful in choosing the site from which you want to buy the things you need. Some sites just lose your money and will not give you anything. Another problem is the quality of the things you get. For instance, if you order food and you get an old or bad item you are able to send it back but you will not get anything for that. However, if the things you are looking for are not far away from your house it must be easier and better to buy from the shop than the internet because you do not have to wait for
The electronic shopping design is winding up logically common. People nowadays can get all that they require on the web, for instance, pieces of clothing, books, staple products, et cetera. Electronic shopping is another sort of development float that people are getting subject to the grounds that it makes people's life less requesting and extras them time. Clients can visit web stores from the comfort of their own home and shop while they are sitting behind their PC. Various online clients don't have to lounge around inertly on shopping any more.
Dentzel (2017) in an article highlighted that the use of the Internet has completely transformed the way people live and has revolutionized almost all fundamental aspects of daily life. It has allowed access to limitless information and became a tool that made everyday communication in an instant. Among the many opportunities created by internet is the emergence of electronic commerce (e-Commerce). Online shopping is a development brought by the e-Commerce and progress of internet.
Online shopping is a new style of shopping. With the rapid development of economy and the internet technology, that made the pace of life increasingly fast, more and more people would like to choose shopping online rather than buying in physical stores. Young people, even the elderly, they have got used to shopping online.Online shopping has come up into every aspects of our life, and it becomes an unshakable hobby of many people. People enjoy the convenience way of shopping,stay at home can get the goods they love. In other words,online shopping has become a kind of trend, physical stores is slowly abandoned by people, Comparing with buying in a store, online shopping is more likely to be accepted by people, because the biggest features of online shopping are embodied in convenience, quicker and cheaper.