Online Retailing Impact On Physical Stores â€Myassignmenthelp.Com

Question: Discuss About The Online Retailing Impact On Physical Stores? Answer: Introduction Online retailing is the latest trend in the market and it almost shut down all the physical retail stores. The physical retails all over the world are suffering from this issue. The report will show light on the online retailing and its impact on the physical stores and the recommendations have been made to revive back the glory of the physical stores. Benefits of online retailing The customers do not have to go outside and travel for shopping, they can get the advantage of shopping from anywhere anytime (Fisher, Gallino and Li 2017). The customers have the luxury to shop online via various shopping web sites, can check and compare the prices of the products they want to buy. They can even buy the products ranging from books, clothes to household appliances at affordable prices. Also, the online retail stores offer the best deals and offer discounts (Rafiq, Fulford and Lu 2013). Online shopping is beneficial for them who hate crowds. With the advent of the smartphone and advanced internet connectivity, the trend of online retailing is increasing day by day. The customers are not preferring to go to physical stores and those stores are shutting down. The e-commerce is dominating at all sections ranging from books, electronic goods, clothes to household appliances and also food products. Amazon is the dominant player of this e-commerce (Acimovic and Graves 2017). There the people can compare prices of various products, based on the ratings and feedbacks they can choose the best products. Even via ratings and feedbacks, one can choose the best trustworthy seller of a particular product. There they also provide best deals online time to time hence attract customers to shop from the site. They have an excellent return policy as well. Many physical retails have opened online websites to sell their products both online and at physical stores. However, they are facing hard times competing with Amazon (Nguyen, Leeuw and D ullaert 2016). Recommendations to revive back the glory of physical retail store According to Doug, the physical retail store is not dead yet. He stated that the physical retail stores need innovation. They must collide digital with physical as this combination can give customers a whole new shopping experience and can also attract customers. The future retail concept can include the following- the video screens where the details of the products will be demonstrated, the customers must be given the opportunity to view the product in a 360 degree angle, must also give the facilities to share Twitter reviews live, also give the facility to try the products there at the physical stores. Conclusion It can be concluded from the above discourse that the physical stores are not dead yet, with the smart move by combing digital with physical and providing customers a lot of conveniences the retail stores can bounce back and get back their lost position. The report highlighted the benefits that online retailing stores offer, the report also showcases the impacts of online retailing on physical stores and finally, recommendations have been made to revive back the physical retail stores glory. References Acimovic, J. and Graves, S.C., 2017. Mitigating spillover in online retailing via replenishment.Manufacturing Service Operations Management,19(3), pp.419-436. Fisher, M., Gallino, S. and Li, J., 2017. Competition-based dynamic pricing in online retailing: A methodology validated with field experiments.Management Science. Nguyen, D.H., Leeuw, S. and Dullaert, W.E., 2016. Consumer Behaviour and Order Fulfilment in Online Retailing: A Systematic Review.International Journal of Management Reviews. Rafiq, M., Fulford, H. and Lu, X., 2013. Building customer loyalty in online retailing: The role of relationship quality.Journal of Marketing Management,29(3-4), pp.494-517.