What I'll Learn
- What is the difference between eCommerce vs retail shopping?
- Ecommerce vs Retail Shopping
- Conclusion: Online Business vs Offline Business
Who doesn’t love shopping? But usually, for people, it is fun and peaceful to give you a new look or to give you the necessities to make your life better and easy. The methods and variations have greatly changed over time with the advancement of technology in the race of online business vs offlines business. Now you can buy anything you want while sitting in your home with just on a mobile phone and internet connection and let the product come to your home on your doorstep in a few clicks.
If you have an online business or offline business and you are thinking about how you can grow your monthly sales and expand your business either if it is online or in-store shopping then you definitely landed at the right place.
Over the last few years, e-commerce sales vs retail sales grown drastically according to Statista in 2019 10.92 billion people purchased goods and services online, and later at the end of the year resulting in 3.5 trillion USD.
What is the difference between eCommerce vs retail shopping?
Retail: It’s the shopping experience physically through shops, person to person and retail sales
E-commerce: It is e-commerce sales focusing on online internet shops for people to buy through credit cards or other payment gateways.
Ecommerce vs Retail Shopping
Journey and Experience:
The journey and experience of e-commerce vs retail business are quite different for customers.
In online shopping, we don’t see goods or products physically but through videos and images. Whereas in retail or in-store shopping there is product interaction we see the product and decide at that moment to buy or not.
Another difference in e-commerce vs retail is in Retail shopping we obtain products immediately, but in e-commerce, the products take a few days to arrive usually.
Retail stores do usually have timings to open their shops and sell their goods, but in e-commerce, the shop is based on the internet online stores open 24/7 for you to buy from them.
In offline business people comes to the shop and directly ask the shopkeeper about the requirements or features of that particular product.
As for in online business people chat through the online chatbot for basic questions or customer service representatives when it’s available.
E-commerce store owners and brands face global challenges and competition so it’s difficult to stand out. In retail stores, there is local competition.
In offline business, there are no shipping costs as they are providing you the products hand to hand but in online shopping, there is usually have high shipping costs to ship the products to the customer’s doorstep.
Payment Options and Flexibility:
As in E-commerce, the shop is based online so there are a number of payment gateways usually available for customers to provide flexibility in online shopping for customers to make their customer journey easier through Paypal, Google Pay, Apple pay, stripe, Credit/Debit/Visa/ Master cards, etc.
In retail, there is mainly a cash option available for customers to buy the product.
Conclusion: Online Business vs Offline Business
E-commerce refers to commercial transactions carried out through an electronic network such as the internet whereby businesses and online store owners list their products on an online platform or website. Consumers then view the product descriptions, prices, and images and purchase the product. Customers visit the physical stores where they can touch, feel, and also read product descriptions of items on display before ordering, after which they purchase the product.
How Do I Start A Retail Business?
1. Generate a unique idea and business plan and how you will execute it.
2. Choose a name for your retail store.
3. Cover your legal basics.
4. Find the right location.
5. Create a personalized experience.
6. Build vendor relationships.
7. Explore marketing opportunities.
8. Plan for a grand opening.
How do I start the Ecommerce Store or an Online Business?
1. Research the e-commerce space and find your niche.
2. Select your business name and choose a legal structure.
3. Choose your e-commerce platform and create your website.
4. Source or develop (and list) your products.
5. Titles description branding
6. Develop a Marketing Strategy.
Is it hard to start an Online store business?
The future of e-commerce is incredibly bright. But, starting an online business is hard work, consistency belief, and trust in yourself and requires many steps and decisions that need to come together at the right time.
Also Read: Top 5 Benefits of having your own Business