Online shopping has increased extensively in recent years. It has been observed that a number of retail shops and supermarkets have suffered losses post online shopping boom and due to which some of them even got shut down. I totally agree that Online shopping will cover the entire market and customer base in the near future which sooner or later lead to closing of nearby retail shops, supermarkets and shopping malls in the towns or cities. In the following paragraphs, I shall put forth some reasons for this phenomenon.
To begin with, Online shopping portals like Flipkart, Amazon etc. are providing all sorts of goods and services which are required by the customer. Be it large electronic appliances like Refrigerator, Air conditioners or small products of daily needs like cosmetic products, stationary products etc. what is more, online sites or applications are extremely user friendly and even an uneducated person who has basic knowledge of using a smartphone can purchase goods online. This is why online portals are gaining popularity not only in major cities but also in towns and countryside areas.
Furthermore, companies who are running online businesses are giant ones and are owned by wealthy business tycoons who have the power to capture the market at a large scale which is why retail shop owners being less wealthy not able to give competition to e-commerce companies. In addition, the return and refund policies and customer care services of online shopping companies are above par which is alluring customers to do shopping online.
Moreover, many sports and electronics companies like Nike, Adidas, whirlpool, LG etc. who were doing only offline business earlier are now operating online as well which clearly shows that online business is the need of the hour and it will be the future of selling and purchasing products and services as we move forward.
However, we cannot deny that offline shopping or retail shops in our neighbourhood has its significance in its own way. These are quite accessible to us at any time of the day and if we need something urgently especially daily need items, we would obviously opt to go to a nearby retail shop instead of online shopping. Having said that, Nowadays, Online shopping portals are working continuously on improving their delivery services and some of them have tied up with nearby wholesalers in every housing society or locality to deliver items within an hour of ordering them.
To sum up, by seeing the current trend of increase in online shopping, it can be easily concluded that in the near future online shopping will cover most of the market segment in cities and towns which will ultimately lead to the closure of retail shops.