The future of retail store Essay Example

  • Category:
    Business
  • Document type:
    Assignment
  • Level:
    Undergraduate
  • Page:
    1
  • Words:
    612

4Commerce

The Future of Retail Store

The Future of Retail Store

According to the article, physical interactions between sellers and buyers are slowly dying. As such, physical stores, perceivably, are believed to be undergoing extinction. Doug, the Chief Executive Officer at Retail Prophet, believes that there will be immense competition between online retail stores and brick and mortar businesses in the foreseeable future (Digital Business, 2013, n.p.).

Online communication and reciprocal action are powerful and can be influential facilitators of shopping at any one given time, and this is exceptionally accurate for online shopping. Online retail businesses are gaining a lot of motivation today. The Internet is increasingly being adopted as a platform in almost all areas of shopping with an exemption of certain products where customers have to view the products physically before they can buy them. From the article, Doug alludes to the fact that people camp outside Apple stores when purchasing Apple products like iPads and iPhones. Other than satisfying their deep needs for interaction in their social dealings, it also corroborates the belief that they want to check and verify the details of the product physically before buying it (Digital Business, 2013, n.p.)

The growth of online retailing can also be attributed to the fact that it provides a proper balance between work and other pursuits either at work or at home. This is normally with regard to the fact that it saves on time walking to shopping centers and minimizes the expenses associated with brick and mortar shopping where one has to move from on point to another using a means of transport. Therefore, online shopping saves shoppers a lot of time and money. Anyone can do it from any remote location.

Doug’s assertion that the evolution in the retail industry has been accelerated mobile telephony is indeed true. This is because the use of smartphones has been snowballing, and this gives consumers unlimited access to consumer products and information about them. From their smartphones, shoppers can enter into contracts when they get anything they have been looking for (Digital Business, 2013, n.p.).

It should not be a debate that online shopping and retailing is now real time, however, the changeover from being an old-fashioned retailer to a facilitator of online shopping experiences has, indeed, been challenging. Many retailers are still developing the necessary technological and internet landscape to be able to adequately meet and address these changes and challenges. In addition, it will also be quintessential if retailers study web-based interaction processes from the perspective of interactive communication so that they can provide prospective online buyers with deeper insights and descriptions into the uniqueness of online products. I agree with Doug that the retail market is tending towards full digitization where retailers will have to provide remarkable experiences to their shoppers so that their products can be purchased by their customers as and when they want. To achieve this, they must adopt or use modern technologies to be able to meet the needs and expectations of the current shoppers (Digital Business, 2013, n.p.).

It is indeed true that bricks and mortar will still be in existence, but will be serving a completely different purpose. As claimed by Doug, physical stores will be converted to distribution channels for products that have been purchased on an online platform. Online retail continues to provide impressive sales statics thus stores should provide a number of channels from which consumers can buy high quality products at reasonable prices.

References

Digital Business, 2013 September. The future of the retail store: what does online mean for

bricks and mortar? Australian Government Department of Communications. Online

Business. Retrieved 8, June, 2014, from,

http://www.digitalbusiness.gov.au/2013/09/24/the-future-of-the-retail-store-what-does-online-mean-for-bricks-and-mortar/