How E-Commerce Is Changing the Landscape of Retail BusinessNeha Kapoor
We today see everything evolving with technology, but the retail business has seen more than what was expected. A decade ago, the retailers had no idea about having an association or selling the items online without having to be in there in the store and same goes with the customers; they didn’t know that their shopping spree would be so effortless at some point.
But we are now living the technological era where just one click can let you in and out of the store through those sleek screens. They actually turned into “to-anywhere” doors.
E-commerce evolved the retail business into a completely comfortable space for both the retailers and the customers. Here are a few facets we consider to evaluate the change in the landscape of retail business.
Not the word of mouth but the feedback and reviews bring in the customers!
Back to the time of brick-and-mortar retail shops, the word of mouth and recommendations hardly brought in the customers. And, now is the time of e-commerce retails online where people first drive to the review sections before the specifications to make the purchase decisions.
The reviews and feedback's of the customers on an e-commerce platform matter the most for peer customers and the retailers on the platform, and hence are considered as the “make-and-break” factor.
According to the statistics, ballpark figures of 84% of the online shoppers are keen about considering the reviews and feedback's of customers before making purchase decisions.
It’s not all about selling the retail stuff only
The retails earlier sold only specific items, and there were different sectors of retail that bounded themselves to sell only the particular stuff; not letting people to have access to all the necessities at one stop. Today’s virtual retail shops aren’t a part of the old traditional boats and are trying things slightly off the track.
The e-commerce retails let you have access to almost about everything in one place, from clothing to grocery and crockery. The e-commerce has seen various brands recently jumping on the bandwagon as well as groceries through Big Basket, and, poultry and meat through KadalUnavu India Private Limited, etc.
These brands weren’t earlier a part of e-commerce because of the material’s freshness span, but with a lot of technology fusing in, we can now get everything from online in just one click.
Purchasing made flexible
Earlier, in the era of offline retails dominating the market, the retailers followed the concept of “buy-if-you-got-money” and today we live in the era of “pay-when-you-receive” aka “Cash-on-delivery”. Time and technology have changed the standards of buying as well.
Then was the time when customers had a starlight single option of paying the bill through cash and waiting for your turn at the counter. But today is the time when you visit the retail, purchase the item within minutes just sitting on your couch through that sleek screen.
Talking about the purchase payment option transformation, we can call it a “choose-any-from-many”. We got multitudinous options to pay for the product and also for when to pay for the product.
Retailer’s access expanded to the global waters
Once was the time when only the local customers had the access to certain retail and now is the time when the retailer seller has global customers interested in the brand. Technology has made it possible for retailers to easily have access to the global waters.
The wide network and huge customer base of e-commerce platforms allow sellers from different corners to collaborate and interact, which earlier was a “rich merchant” thing, but now is usual.
What once seemed impossible for the retail business is now easy as pie through e-commerce world. And, with the above facets, we can assume there’s a lot more coming for the retail business landscape to change in the future years. More scope for the retailers and more of existing comfort level for the customers.
E-commerce is seen as a promising retail platform for every brand whether it is an established brand or a startup. You find the scope of development and evolution in every aspect of your business and brand.