E-Commerce industry is currently the most blooming industry in business. With the advancement in the internet shopping we all have witnessed a drastic shift of consumers from offline buying to online buying. I would totally agree with this fact that the day is not far when this sector will develop so much that it will destroy the business of all local shops and service centers.
As per recent survey, conducted by the leading market research firm, it was concluded that around 65% of purchases were made online last year. This is the evidence that reflects a drastic change in consumer behavior & buying pattern. In recent times, focus of customers is more inclined towards ease and comfort buying. They prefer buying products and services without stepping out of their home. Also, currently IT sector is growing so rapidly that with just a click of button we can see features, price, colours & quality of product however, describing same thing offline consume time and manpower and in addition, can lead to confusions. If we compare advantages of online and offline buying, one of the major advantage will be getting reviews globally from users. Also, I would say COVID-19 is cherry on the cake for e-commerce industry. Due to Social distancing norms & fear of COVID-19, people are gradually moving towards online buying. Younger population were involved much in online shopping but with COVID-19 becoming our new life, customer base of e-commerce industry have increased & everyone regardless of age are getting attracted towards shopping online.
There are two basic pillars of e-commerce industry which are IT & Logistics and with advancements in IT industry & strengthening of Logistics infrastructure, online shopping would be the new normal. In turn, we won't be seeing any local shops in cities and towns due to no demand or due to minimal demand. Maintaining shops involve various expenses such as rent, electricity, maintenance etc. and with decrease in demand it will be difficult for shopkeepers to earn profits hence resulting in shutting down. Also, as we know that drones have entered the market and this will be used by E-Commercebusiness as their competitive advantage. This will convert standard delivery time from days to hours & minutes. Hence, people will prefer to buy products in one click and getting it delivered at their doorstep.
To conclude, I would say that shops are at verge of extension as per current industrial scenario. It's essential that we protect our local shopkeepers by instead of shifting totally on online buying, we give preference to offline buying also purchase of daily usecommodity.
E-Commerce
industry
is
currently
the most blooming
industry
in business. With the advancement in the internet
shopping
we all have witnessed a drastic shift of consumers from offline
buying
to
online
buying
. I would
totally
agree
with this fact that the day is not far when this sector will develop
so
much that it will
destroy
the business of all local
shops
and service centers.
As per recent survey, conducted by the leading market research firm, it
was concluded
that around 65% of
purchases
were made
online
last year. This is the evidence that reflects a drastic
change
in consumer behavior &
buying
pattern. In recent times, focus of customers is more inclined towards
ease
and comfort
buying
. They prefer
buying
products and services without stepping out of their home.
Also
,
currently
IT sector is growing
so
rapidly
that with
just
a click of button we can
see
features, price,
colours
& quality of product
however
, describing same thing offline consume time and manpower and
in addition
, can lead to confusions. If we compare advantages of
online
and offline
buying
, one of the major advantage will be getting reviews globally from users.
Also
, I would say COVID-19 is cherry on the cake for
e-commerce
industry
. Due to Social distancing norms & fear of COVID-19,
people
are
gradually
moving towards
online
buying
. Younger population
were involved
much in
online
shopping
but
with COVID-19 becoming our new life, customer base of
e-commerce
industry
have increased & everyone regardless of age are getting attracted towards
shopping
online.
There are two basic pillars of
e-commerce
industry
which are IT & Logistics and with advancements in IT
industry
& strengthening of Logistics infrastructure,
online
shopping
would be the new normal. In turn, we won't be seeing any local
shops
in cities and towns due to no demand or due to minimal demand. Maintaining
shops
involve various expenses such as rent, electricity, maintenance etc. and with decrease in demand it will be difficult for shopkeepers to earn profits
hence
resulting in shutting down.
Also
, as we know that drones have entered the market and this will be
used
by
E-Commercebusiness
as their competitive advantage. This will convert standard delivery time from days to hours & minutes.
Hence
,
people
will prefer to
buy
products in one click and getting it delivered at their doorstep.
To conclude
, I would say that
shops
are at verge of extension as per
current
industrial scenario. It's essential that we protect our local shopkeepers by
instead
of shifting
totally
on
online
buying
, we give preference to offline
buying
also
purchase
of daily
usecommodity
.