Till now most of us have been assuming that online shopping or e-commerce business is giving a tough competition to the brick and mortar store. But it is not so. The fact is that e-commerce businesses complement the retail business/ brick-mortar business.
Well, it is quite known to people how e-commerce has transformed the ways of shopping and how there has been a great impact on the sales of retails stores. Since the last decade, e-commerce sales were increasing exponentially whereas the sales of retail stores were not able to achieve the benchmark. Looking at the number, many of the retail business houses decided to shut down. When such things happen, it is quite obvious to assume that brick and mortar business is doomed.
Another reason for the backslash of brick and mortar is that e-commerce businesses or giants have created a high standard for the customers with regards to customer experience. Customers find online shopping appealing as they get
- Convenience to order everything by sitting in their comfort zone,
- People can have a look at the live inventory, they can look at as many products as they do not have to depend on any salesperson to show them the right product.
- Online shops can be accessible at any time – 24/7 services provided.
- Customers get to look at the products reviews and then make the right decision
It became difficult for in-store businesses to achieve these high standards. But whenever you look at the statistics, you would come to know that millennials or youngsters generally prefer to shop online, but there are many people who still prefer brick and mortar shopping over online shopping.
By now you know that it is not just about the e-commerce business or brick and mortar business, but a right blend of both. E-commerce and Brick-and-mortar do not compete with each other but complement each other. This means that both the different businesses go hand in hand.
#1 When E-commerce And In-Store Blend Together They Can Engage Audience Of All Generation
If you look at the analytics of e-commerce stores and retails stores, you would get to know that different generations have different and unique shopping habits, different preferences, and also customer behavior. You could see that people belonging to the age group 30 to 40 are more drawn towards online shops, whereas people belonging to the age group of 50 – 60 years would still prefer retail stores. The most surprising fact is that generation Z (21st-century people) are open to both online shops as well as retails.
So by strengthening their online presence, the physical stores can cater to a large audience. This means they can specifically address the generational consumer shopping behavior and reach them on the right channel. This means if brick-and-mortar businesses have an online presence, they can reach the right people at the right time through the right channel.
#2 Customers Get Multisensory Experience
In a world, where more and more people turn in toward online buying there are people who claim that nothing can beat holding the product in hand. It gives customers a chance to have a look at the product inside out, going through the minute details before making the final decision. Customers get to interact with a wide range of products and help in making an informed decision.
So while online shopping provides you access to live inventory and a huge collection of products, brick-and-mortar gives an advantage of getting a closer look at each product! Online stores help in making the in-store experience more efficient.
#3 E-commerce Stores Helps Brick-and-Mortar Business In Building A Loyal Customer Base At A Faster Speed
If online stores and physical stores work separately, they would require time to attract the right customers and then formulate strategies to turn them into loyal customers. But when these platforms work together they can achieve everything at a faster pace. It would be best for the business to grow sales through online stores as well as retail stores. Combining the marketing strategies of both, businesses can accelerate the decision-making process and turn prospects into the loyalty loop.
#4 Provide Your Target Audience With Unified Customer Experience
It is best for the customer who can choose online stores to verify the product reviews and check out why people prefer a specific product and get a closer look at the product through retail shops. The right blend can help businesses to provide the best experience to the customers. The brick-and-mortar and e-commerce platforms complement each other by offering a unified customer experience. You could see that with consistent cross-channel brand representation in-store, through e-commerce websites, mobile app, and social media enables retailers to speak to their audience in one voice.
Although we might feel that technology has become ingrained in our lives, there is still a voice that encourages us to interact with things and be a part of engaging experiences. It is true for the shopping experience as well. Even today, when the internet is flooded with innumerable online stores there are people who look forward to brick-and-mortar stores. But considering the positive aspect, brick and mortar must create their online presence through e-commerce stores to cater to a wide range of customers, and not just a few.