Online shopping has taken the world by storm. It has completely taken over the retail industry too.
Online shopping offers ease and comfort to the customers as it is an easy way to purchase the products or services.
Internet shopping provides a quick way to get the products to your doorstep. Also, there are many up and down sides of online shopping.
The down side is the delivery time even if it’s not that slow anymore these days with the situation of the COVID-19.
Also, online fraud and security concerns, lack of complete cost revelation, personal privacy and much more.
Additionally, the growth of the e-commerce industry has also led to market capitalization.
In this case, the disadvantages of online shopping won’t stop its growth, it does affect the retail industry.
Online shopping has become a great way for online businesses to grow and flourish. Not to mention, it brings huge amounts of profits and revenues to the retailers. But it also impacts the traditional land-based retail stores. The impact of online shopping on retail stores is huge.
Online shopping allows customers to review thousands of items in one combined place which is not possible with traditional stores. It even allows customers to pay from their home through e-transactions and cash on delivery options.
This has negatively affected the retail shops and businesses to compete with online stores to stay relevant.
Smartphones and internet technology has played a huge role in leading to the growth of online shopping business. Customers with smartphones use online shopping websites which again in result impacts the retail industry. This has led to many retail stores running in losses or completely perishing from the marketplace.
Additionally, it takes a longer duration to deliver the products. This is due to the mismanagement of inventory. Furthermore, online shopping in itself is a quick process. However, the delivery can take up to days, sometimes even weeks. This causes frustration in the customers and they avoid shopping online.
The traditional shops and stores offer discounts and other exciting deals to the customers to attract them. This is not the case with online shopping stores. It gets challenging for the online shopping websites to compete with the traditional shopping platforms, and sometimes they even incur losses.
The traditional online retail stores enable the customers to negotiate and bargain with the sellers. There are attendants and representatives who guide the customers for maximum guidance throughout their shopping experience. This is not possible with online shopping.
Online shopping is popular and easy. There is still a great risk involved when shopping on the internet.
Many times, online shopping payments are not as secure as physical payments.
It is necessary for e-marketers and e-retailers to give attention to this subject if they wish to increase the growth of their e-commerce business.
There has been an increase in the rate of cyber-crimes over the past few years. Customers’ credit card details and bank details are been misused and mishandled by cyber hackers and criminals. Therefore, this raises privacy concerns in many shoppers.
Today, noting these side effects of online shopping have made many customers wary and they are hesitating to share their personal information online as they find many e-retailers are unreliable and fraud.