Flourishing E-Commerce Stores: A blessing or a Curse to Brick and Mortar Retailers? 

The history tells us about the first ever online legal transaction that happened of a compact disc on August 11, 1994. The buyers and sellers did not have any idea of this massive transition from a conventional market to e-commerce stores of that time. But, that first online purchase paved the way for global e-commerce sales that projected to reach $8trillion and account for 23.6%of all retail activity by 2026. Today, e-commerce stores are the new reality with the involvement of ecosystem technologies, digital platforms, website builders, payment gateways and social media sales channels. Today, the question arises that whether the flourishing e-commerce stores are becoming a blessing or a Curse for Brick and Mortar Retailers. The answer lies in the explosion of e-commerce stores that followed in the year 1998 through giants like Amazon, eBay and PayPal that revolutionized the businesses and democratized the e-commerce industry

Defining E-Commerce Stores 

E-commerce Stores refers to when individuals or companies buy and sell goods or services online. The means to e-commerce stores include smartphone app or online stores, social media platforms, or an online marketplace. All one needs is an internet connection to get hold of the e-commerce stores. The key features of e-commerce stores include online shopping, electronic payments, online auctions and internal banking, social commerce and mobile wallets.

Defining Brick and Mortar Retailers 

The physical stores are called Brick and Mortar Retailers. Reports claim that 90% of the sales of retail items in South Asian countries are being done by physical stores. The buyers adore the idea of touching the product and even trying it before buying. The conventional market retailers have a high infrastructure and heavy capital investment to attract the targeted audience. But, the sharp penetration of the internet has opened new ways for retailers and to remain effective and efficient, the people need to embrace technology because the 21st century is all about growth in digital marketing.

Flourishing e-Commerce Stores: a Curse for Brick and Mortar Retailers 

The flourishing e-commerce Stores are a Curse for Brick and Mortar Retailers because in this rapid digital transformation, the local retailers stand at the intersection of age-old traditions and innovative technology, steering a path reshaped by the influence of online platforms. The flourishing e-commerce stores have challenged the adaptability of the local retailers and have left them with no options but to accept the new market dynamics and change the traditional business approaches.

Flourishing e-commerce Stores: a Blessing for Brick and Mortar Retailers 

The statistics show that 25% of the world’s population that is around 1.92 billion people is expected to shop online in 2019. The numbers are increasing with each passing year and this trend is expected to continue. By, 2012, 2.14 billion individuals are expected to shop online. Seeing the statistics, one must think that physical stores might leave their relevance in coming times but that’s not the case. The availability of e-commerce stores are contributing to the success of the Bricks and Mortar Retailers. Let us examine how the flourishing e-commerce stores are becoming a blessing rather than a curse for physical stores: 

Omni channel Retail Strategy 

The e-commerce stores are a blessing for Brick and Mortar Retailers because of the prevalent Omni channel Retail Strategy that provides strong marketplaces for businesses. Global e-market places like Ali Baba, Amazon, and eBay have broadened the horizons of shopping of the physical stores. They create an easy-to-use platform for customers to browse through their favorite brands. They are essentially an online shopping Mall that is beneficial for out space competition, brand legitimacy, new customers and brand recognition. Therefore, the flourishing e-commerce stores are a blessing for the Brick and Mortar Retailers because of these new ventures offered by digital marketing strategies.

Click and Collect Sales Strategy 

Mortar Retailers have regained their footings in their fight against delivery giants like Amazon because of their click and collect sales strategy. The strategy provides a two way communication of a client with the business. You have an option to pick and choose online at your preferred hours in the comforts of your home and later on you can just visit physical stores for your delivery. Therefore, the Bricks and Mortar Retailers are gaining more profit by providing this facility to customers in this era of digital advancement and e-commerce stores are adding more value to physical stores by opening new ventures of digital marketing. Hence, the flourishing e-commerce stores are a blessing for Brick and Mortar Retailers rather than a curse.  

Catalyst for Positive Change 

The flourishing e-commerce stores are a blessing for Brick and Mortar Retailers because of the social impact of the digital revolution. The fusion of e-commerce with retail landscape has become a symbol of hope for many small businesses and big firms. The e-commerce is promoting digital inclusivity and empowering diverse communities in the Retail markets. E-commerce stores are allowing more people to participate in the digital economy by removing all the barriers that brick and mortar retailers could have encountered. Therefore, e-commerce stores are a catalyst for Positive change for the physical stores as well in the era of digital marketing. 

Inclusive Commercial Ventures for people 

From providing job opportunities to people in fields like delivery services and digital marketing, the brick and mortal retailers are also being provided with customer base, sales hike, expansion of reach and instant transactions by glaring opportunities of e-commerce stores. Along with that, it has become a changing point for many young entrepreneurs to create a mark in the business world through the fusion of online and offline platforms.  Therefore, the flourishing e-commerce stores are a blessing for Brick and Mortar Retailers rather than a Curse. 

Conclusion

When the e-commerce stores are intertwined with the perks and privileges of Brick and Mortar Retailers, the e-commerce stores become a real blessing for the physical stores. The personalized shopping experiences, streamlining the supply chains, add glory to the overall experience of buyers and provide a win-win situation for the retailers. Hence, the flourishing e-commerce stores are a blessing for Brick and Mortar Retailers rather than a Curse in this contemporary transnational world of digital marketing.