Malls, shopping centers, and retail outlets thrive from consumer spending. However, where is the majority of this spending taking place, in-store or online.
Are brick and mortar stores going the way of the dodo?
In short, no. However, within certain areas there is simply no reason to leave the comfort of your home to do your shopping. Today, one can even go grocery shopping online. There are some serious advantages and disadvantages to shopping online.
- Lower price points
- Vast selections
- Possibility of lost shipments
- Waiting on shipping
When you shop online for certain types of items, the savings will be significant; however, there are times at which the shipping charges would suggest you just drive to your nearest location. In addition, humans love the fact that going to a store gives them instant gratification instead of waiting on a delivery. On the other hand, there isn’t just one place you can shop from online, there are literally hundreds of thousands so the selection is endless. No Macy’s in your city? No problem, just head to the retail website and you can go from shopping to shopped in minutes! As with any good thing there has to be downsides. For example, you just ordered a brand-new graphics card online and you wait for it for weeks only to realize that the parcel service lost your shipment; it can happen. Lastly, what about groceries? Food is something that we all need to survive. Yet, I just don’t see grocery stores going anywhere anytime soon.
Bottom line: Technology and e-commerce have virtually eradicated the need for so many physical stores to be built when so many commodities can be found online for a reasonably low price.
Online marketplaces that offer savings: