The scenario of how commerce is changing is clear to all of us, and it’s impossible that will go unnoticed.
Customers shopping behavior have changed and its also changing how the bran meet those customers needs.
Even in the e-commerce world where innovation and extra edge has always been a given, there are some changes going on, like the introduction of some added tools to further enhance the consumer experience, to match what yesterday could only be experienced in a physical store, like linking online and offline experiences or introducing the capability of ordering using the voice.
The world of retail is becoming a storefront as brands now virtually sell through media that were unthinkable before.
With new websites platforms that can be updated easily linking front and back end, and the use of web applications meaning also maximizing the contribution of the teams allocated to the maintenance of a web store.
Some forms of brick and mortar business have died and are reborn online, and what was born online is increasingly crossing over to the physical world once again in a never ending process.
Digital commerce is playing a key role in different areas and we’re seeing some impact for all the stakeholders involved : Brands, Customers and related operations like supply and distribution chains.
Niche brands and small private labels are selling directly to consumers creating unique experiences accelerating sales exponentially.
The weight of e-commerce sales is now an important part of established companies all over the world and in different markets, studies have shown that an average of 15% of total revenues stream comes from online business.
Operations from suppliers to logistics have become involved in a change and optimization process to meet the demand of these evolving channel whilst trying to contain costs.
Customers are now being targeted by marketers associated to digital business in new and disruptive way also across devices, buying online is no longer done just in front of a pc.
Between physical and digital commerce there’s now a line that’s blurred, and while e-commerce is growing much faster than retail, it’s still a relatively small piece of the pie.
Some e-commerce “numbers” to have a better understanding of the digital scenario.
• 67 percent of millennials prefer to shop online
• 56 percent of gen-xers prefer to shop online
• 41 percent of baby boomers prefer online shopping
• 28 percent of seniors prefer online shopping
Nowadays many purchases involve both digital and physical browsing of goods,quite often a purchase begins with online research followed by a visit to the store to make a purchase, or vice-versa a purchase may start with a consumer examining the product in-store but making the purchase online.
And with the help of mobile devices, customers can perform their online research and price comparisons directly while in the store, doing what’s is known as “showrooming”
Why Customers Purchase Online
Besides the ability to compare products and browse reviews, online shopping has other advantages:
• Ability to Shop 365-24-7
• On-line shopping allows to compare pricing and find the best deals saving money.
• Saving time,in-store shopping can be time consuming.
• Overall Convenience.
• Availability – hard to find items are much easier to source online.
• Free shipping is common available from online vendors.
On the other hand let’s look at why some customers prefer Brick-and-Mortar shopping
• Being able to physically interact with an item before buying.
• Goods can be obtained immediately rather than waiting for shipping the so called “instant gratification”
• Customer service – the ability to speak directly to a sales representative
• Avoiding shipping costs in some cases.
• Avoiding the hassle of returning unwanted items
• Much faster and easier to return a defective or unwanted product in-store.
• The experience of “going out”.