The battle between online stores and retail stores has been going on for a long time since the e-commerce sector has set its foot in the business world. With the popularity of the online shopping portals, the percentage of online shoppers is a bit more that of the retail ones. Retail stores are limited to the people surrounding it. But online stores are easily accessible and are more convenient as people don’t have to visit the stores physically. The consumers these days, don’t have enough time to visit the retail stores and do their shopping. When it comes to online shopping websites, you can buy anything and everything you want online and that too with the additional advantage of door-step delivery.
Every coin has two sides and this coin also has two sides, one is online stores and other is retail stores. Both of them have their own point of views, pros as well as cons.
So, let’s analyse and see which one is winning.
Cost Of Setting Up
The basic cost to set-up an online store is much less as compared to a physical retail store. For setting up a retail store, you need a space which is located in an area which is populated and has a maximum number of your target audience. Since its a retail store, you will have to shell out a good amount of money to work on the interiors and furnishing according to the need of your brand. You don’t have to keep products on display physically. Whereas an e-commerce store will just take a few hours to set up if you are using a SaaS-based platform of BuildaBazaar.com. BuildaBazaar will help you create your online store from a scratch right from setting up your store to designing to customer service.
Products On Display
In this matter, retail store gains an additional point. Time and again it has been proven that when it comes to costly items such as antiques, jewelry, and cars, a retail store will appeal more to customers and there are chances that they will generate a higher profit margin on individual items. An online store will work better for products like shoes, apparels, bags, cosmetics etc. These days people rarely buy such products from the retail shop. When it comes to BuildaBazaar, you will have a lot of options for themes and modifications according to your product and choice.
Competition They Face
The amount of competition they face and the way they face it is very different. The retail stores have to compete with the stores which are in their surrounding areas. Whereas the online stores have the entire web to compete with them. For an e-commerce store, every other e-commerce store present on the web and those who cater to the exact same audience as them are a competition.
An e-commerce store will help you to click with your target audience. They require less investment, unlike a retail store. You can always open your retail store once you earn your money through e-store. So, yes. E-stores are a bit more preferred by people over retail stores. But The truth is that both are equally important. It just depends on what you prefer and your choices.