The 21st century has seen a dramatic increase in the amount of shopping that is done online. In 2000, only 22% of Americans shopped online. By 2017, that number had increased to 79%. This increase in online shopping has been driven by a number of factors, including the increasing availability of high-speed internet, the proliferation of mobile devices, and the ease and convenience of online shopping.
The increase in online shopping has had a number of impacts on the retail sector. Perhaps the most obvious impact is the increase in competition that online shopping has brought about. With more and more consumers shopping online, brick-and-mortar retailers are feeling the pressure to keep up. This has led to a number of changes in the retail sector, such as the rise of omnichannel retailing (a strategy that combines online and offline shopping experiences) and the increase in store closings and bankruptcies.
Another impact of online shopping is the increase in package deliveries. In 2017, UPS delivered 7.4 billion packages, a 26% increase from 2016. This increase in package deliveries is largely due to the growth of e-commerce, as more and more consumers are shopping online and having their purchases shipped to their homes. This increase in package deliveries has led to a number of challenges for retailers, including an increase in package theft and a need for more efficient delivery methods.
Overall, the increase in online shopping has had a major impact on the retail sector. Brick-and-mortar retailers are feeling the pressure to keep up with the competition, and the increase in package deliveries has led to a number of challenges. Despite these challenges, however, online shopping is only likely to continue to grow in the years to come.
The benefits of online shopping
It’s no secret that online shopping has become increasingly popular in recent years. In fact, according to a report by Statista, online sales are projected to reach $4.8 trillion by 2021! That’s a lot of shopping!
There are many reasons why people love to shop online. For one, it’s convenient. You can shop from the comfort of your own home, without having to deal with the crowds at the mall. You can also take your time to find the best deals and compare prices from different retailers.
Another great benefit of online shopping is that you can find items that are not available in your local stores. For example, if you’re looking for a rare book or an obscure gadget, you’re more likely to find it online than you are at your local bookstore or electronics store.
Finally, online shopping is often cheaper than traditional shopping. Retailers can offer lower prices because they don’t have the overhead costs of running a physical store. And, thanks to competition among online retailers, prices are always coming down.
So, if you’re looking for the best deals on the latest products, there’s no better place to shop than online.
The drawbacks of online shopping
Though online shopping has many benefits, there are also some drawbacks associated with it. The following are some of the most common drawbacks of online shopping:
1. Lack of tangibility: When you shop online, you can’t see or touch the products you’re interested in purchasing.
2. Limited customer service: When you shop online, you typically have to rely on the customer service provided by the retailer or website. This can be frustrating if you have questions or concerns about a product, as you may not be able to speak to a live person.
3. Shipping costs: Depending on the retailer, you may have to pay shipping costs for your purchase. This can add to the overall cost of the product and maybe a deterrent for some shoppers.
4. Risk of fraud: When you provide your personal and financial information to a website, there is always a risk that it could be compromised. This could lead to identity theft or other forms of fraud.
5. Inconvenient returns: If you’re not satisfied with a purchase, you may have to go through the hassle of returning it by mail. This can be time-consuming and costly, depending on the retailer’s return policy.
The future of online shopping
As the online shopping landscape continues to evolve, we can expect to see even more innovation and growth in the sector. Here are a few trends that we think will shape the future of online shopping:
1. Mobile shopping will continue to grow in popularity
Mobile devices are becoming increasingly popular as a means of shopping online. In fact, according to a recent report from eMarketer, nearly 60% of digital shoppers in the US now use their smartphones to make purchases. This trend is being driven by the increasing number of consumers who own smartphones, as well as the growing number of retailers who are offering mobile-friendly shopping experiences.
2. Social media will play a bigger role in online shopping
media platforms like Facebook, Twitter, and Instagram are playing an increasingly important role in the world of online shopping. Social media platforms are being used by retailers to promote their products and services, and by consumers to research and compare products. In addition, social media is being used by a growing number of shoppers to make purchases directly from platforms like Facebook and Instagram.
3. Augmented reality will become more common
Augmented reality (AR) is a technology that overlays digital information on the real world. AR is already being used by some retailers to provide shoppers with a more immersive and interactive shopping experience. For example, Ikea has developed an app that allows users to see how furniture would look in their homes before they buy it. As AR technology becomes more sophisticated, we can expect to see more retailers using it to enhance the online shopping experience.
4. Personalization will be key
As online shopping becomes more prevalent, retailers are increasingly looking for ways to personalize the shopping experience for their customers. This can be done in a number of ways, such as by recommending products based on previous purchases, or by