Some might find it very painful and others might rejoice at the instant of hearing this but in the next decade e-commerce is bound to get such prominence in the market that it might become the only way of shopping in the future.
But… does that mean that physical shops as in retail stores will die out? Well, it can be hard to digest but that scenario is somewhat inevitable and can occur in the near future.
Physical markets are losing their valuation day by day with the emergence and establishment of e-commerce platforms in each and every market scenario be it books, groceries, medicines or furniture.
Trade experts and market analyst already deem the current age as the pre-death era of physical retail.
They are stating that in the future will barely have a choice than to subside in e-commerce platforms for their everyday essentials as well as their one-time buys.
It is just the way forward, as simple as that.
Was e-Commerce so prominent since its beginning?
No, it has to be accepted that digital retail or e-commerce has had a shaky beginning.
Not many people trusted the online platforms to deliver quality products and a large group of people hesitated in making online payments. But those days are well behind us and the current age has seen people gladly accepting all kinds of products from online stores.
They hardly hesitate in making online payments from third-party merchant sites and moreover, they eagerly accept all the extra benefits e-commerce offers to the regular customers.
Not at once. Maybe not in the next ten years but according to expert reports and market trends within the next 50 years physical retail stores might become extinct.
People may not further buy their products from physical shops.
The reason is the convenience customers get when they make online transactions.
The only problem e-commerce faces right now is that it cannot yet provide when customers require a last-minute product.
But that problem will be solved in a matter of years. Ten, maybe twenty but sooner or later e-commerce will take up the whole consumer markets thereby leading to the slow demise of physical shops.