However, at the moment, online and in-store shopping are more complementary than we think. For example, the growth of online shopping creates educated in-store customers who know what they want and shop with ease. At the same time, online retailers face intense competition and few are profitable. This suggests that businesses and researchers still have much to learn regarding key antecedents of online shopping adoption and success. Based on extensive past research that has focused on the importance of various online shopping antecedents, this work seeks to provide an integrative, comprehensive nomological network. Between advertisements for e-commerce stores to the number of online marketplaces, it’s pretty hard to be an internet user and not notice that online shopping has exploded.
While only 14 percent Gen Z population shops online, this number falls to only 5 percent for the Gen X population. Online shopping sees a spike during flash sales and times when higher discounts are offered by e-commerce platforms, with nearly 35 percent of shoppers preferring online shopping only during flash sales. Indian retailers are bringing the best of both worlds to shoppers by integrating digital tools with specialized in-store offers to encourage offline sales. The top 5 strategies used by offline retailers are Specialised offers, discounts, using instant messaging apps to connect with customers, doorstep delivery, and multiple payment options. 60% of retailers have adopted digital payments at their stores for ease of payment and a hassle-free buying experience for their customers.
Let’s take a closer look at these modern-day technologies that will undoubtedly shape the future of retail, catering to a digital-first, digital-only consumer base. Myntra, as one of India’s leading fashion, beauty, and lifestyle players, has successfully positioned itself as a fashion destination for the masses. With 55 million active users, the platform provides a diverse array of brands, both Indian and international, making it a one-stop shop for fashion enthusiasts. One of the standout trends was the remarkable surge in e-commerce adoption from Tier II, III, and IV cities. Over 65 percent of prime members who participated in the festive season shopping hailed from these smaller towns, a substantial increase from the previous year’s 50 percent. This shift signifies the democratization of e-commerce, reaching deeper into the heart of India. At a macro level, e-commerce witnessed an outstanding 26 percent year-on-year order volume growth, reflecting the robustness of the industry.
Online shopping – definition and meaning
When shoppers go online to shop, it makes the entire browsing process a whole lot simpler. Imagine being able to punch in the name of a product or brand into the air while you’re shopping at a physical location. “At some point it will be a really big business,” a UBS analyst said to Reuters in 1994.
Additionally, having a fantastic customer care team in place is important for e-commerce organizations and may greatly improve the online shopping experience. This involves giving clients who might run into problems or need more information prompt, beneficial assistance.
Shop From the Comfort of Your Home
Without a need for a physical storefront (and employees to staff it), ecommerce retailers can launch stores with minimal operating costs. And those that run a dropshipping business can even minimize upfront investment costs. Slowly, small business owners are launching ecommerce stores and diversifying their offerings, reaching more customers and better accommodating those who prefer online/mobile shopping.
How do I start my own online store?
Visa and your banks work hard to keep your payments safe and use multiple layers of security to prevent fraud, protect your data and help you get your money back if someone uses your card without your permission. Not only does online shopping allow you the convenience of shopping for what you need, when you need it, in the comfort of your own home, but you can also compare prices, find discounts or check reviews instantaneously. The actions consumers take include following the brand, visiting their webpage, or even purchasing items. To go into detail, approximately 65% of consumers visit the brand’s app or website.
Another phenomenon here is omnichannel retail; these exchanges often start with a customer shopping online, but finishing their experience in person to get the best deals. Essentially, online shopping allows customers to make purchases from anywhere, 24 hours a day. Read more about Discount Shit here. In-store shopping, on the other hand, allows customers to walk away with the items they want to purchase right away. However, the latter requires walking into a physical store to make purchases with a debit or credit card.
There also exist tools that can help with categorization- organizing products into relevant categories, making it easier for customers to find what they’re looking for. Offering personalized product recommendations is another innovation that has transformed the way the industry operates.