Traditional Way Of Retail Shopping VS Modern Way Of Retail Shopping and the changes have been phenomenal. In the 1980s, before the advent of shopping malls and big-box commercialism, relatively small, locally owned retail establishments were the norm. And, these retail stores were the only destination where people go and shop for whatever they need. Similarities between 1980s retailers and today’s are few, the most significant being “specials,” or “sales” days, on weekends or just before major holidays.In the traditional way of shopping the vendor and the store are very important. The store gives the consumer the possibility to compare, orientate and get information about a product. The physical store and its vendors are therefore very important, because they need to have knowledge, skills, products, and services all at one place. Important factors are the shops location, contacts, and assortment. When a physical store meets these qualifications, it will be successful. But when customers are going to buy products another way the role of the physical store will change, “and that is exactly what is happening in the retail market right now”. There is another way to shop, products that is one can buy their necessary items on the internet by using certain apps or may be online sites. Like mentioned above e-shopping growing but the form in how to shop online has also changed over the years. Web shops nowadays offer more than just the possibility to purchase a product. The online retailers (E-tailers) are constantly optimizing the experience of their web shops. There are e-shopping concepts that try to replace the mirror and want to give the consumer the same feeling as when they go into physical shops.
E-Shopping (Online Shopping) : As stated in the introduction with advent of internet new possibilities to do business also arose. Doing business over the internet is called electronic commerce (e-Commerce). Although e-Commerce is often indicated as only the purchasing and selling of products or services on the internet, it is far more then only the electronically mediated financial transactions between two parties. Up until a few years ago, online shopping in India seemed like a far-fetched idea. More importantly there was no trust in them. However, things have changed now and people shopping online are rapidly growing. Online shopping has become the mainstay of Indian Internet users whose population adds up to 45 million (info from wikipedia). Online retail stores have also managed to obtain a share in the country’s retail market by gaining the trust of customers. The e-Consumer strives for convenience, enjoyment and profit. e-Retailers and their web shops have other characteristics than physical shops. There are potential possible advantages of e-Shopping with respect to store shopping. These advantages do not apply in all circumstances, it is possible they might occur at the expense of others.
- Unlimited selection: A physical store is constrained by the stock that is available at the location. A single internet retailer can offer over a million products, because they can act as a middle man between the producer and the customer. Therefore indirectly the inventory of the producer is available for the consumer. Consequently it is far more likely a consumer will succeed, because all sizes should be available in theory.
- Lower prices/ search costs: Theory suggests that internet retailers in general offer a lower price than physical stores. The main reason for this being the lower costs of search for the consumers and the lower costs of market entry and operations .
- Convenience: With e-Shopping retailers giving consumers the possibility to shop whenever they want. More likely to assume is that it gives consumer the possibility to shop while sitting on the couch after work or late at night. e-Shopping makes it possible to shop 24 hours of the day, every day of the year.
- Speed: It is a fraction of the time of what it would take to visit a physical store. A consumer can assemble information from various virtual stores about a product and after that the consumer can decide to buy the product.
- Information: The internet offers the consumer an enormous amount of information about a product. Besides most websites offer the ability to compare products with each other and gives a consumer a clear overview.
Augmented Reality: Long limited to tech fantasies, augmented reality and artificial intelligence have finally crossed the chasm into being well, useful. AR integrations in apps have solved a major problem with online shopping. They let you see products in your space before you buy. Just point your phone at your living room and see how that new couch or coffee table fits in. And it won’t stop there. A future is in sight where you’ll be able to point your phone in the mirror and see how those same threads will look on your body. This is a good way for customers to make personal choices.
Mobile Goes Mainstream : The data says it all mobile checkouts are on the rise. Almost sales occurred on mobile across shoplifts great platforms. Its a trend that will only continue with mobile shopping on pace to eclipse desktop or tablet in the not-too-distant future. Outside other platforms, nearly 35% of e-Commerce purchases were made on mobile in 2017. Now, with more than half of all internet traffic coming from a mobile device, it is extremely important to make sure the website is primed for mobile viewing.
Social Shopping Actively Growing High : Social media today is a lot like the town, a place where everyone gets together to socialize and window shop. But until recently, actually purchasing something on social media was painful and inefficient and most people saved their shopping for traditional retail sites. No longer in app purchasing on Facebook, Instagram and Pinterest has evolved dramatically in recent months, enabling social media users to finally pick up their goods without leaving the virtual neighbourhood. Shopping is, was and always will be a social experience. No wonder so many new social shopping trends have invaded the e-Commerce universe in recent years. Think about it. From the past decades dominated by shopping malls and department stores to the modern era of e-Commerce, the social aspect of shopping is here to stay.
In today’s era the idea of retail shopping as taken a great turn over and it is highly influencing the society. People are accepting new methods of retail shopping where one shares paradigm shift ideas in which we find the level of online shopping growing actively in the graph.