The turn of the 21st century has bought a significant boost in technology, with substantial businesses going online to save a lot of money on factors like storage units, working staff, electricity, and other utility bills. Earlier commodities sold online were restricted to a few; however, one can get almost anything online from bicycles to cosmetics to food items and more. Not only are online shops cheap, but they’re also immensely accessible. For ex, if one wants to buy a bike online, they can google the phrase online bike shop near me, and they would have the results in an instant.
How online businesses have affected traditional methods of selling
Today’s world is dominated by online websites Like Amazon, Flipkart, etc. These serve as stores for various things like online bike shop, online grocery stores, only clothing stores, etc., and that too all in one place. The consumer can shop hassle-free without ever leaving the comfort of their homes. As mentioned above, the technological era has made it immensely easy for both sellers and consumers; however, what is perceived as a blessing by many is also perceived as a curse by few. Online businesses have forced small-time sellers or technologically handicapped sellers to go out of business. Primarily they cannot compete with prices of online goods because they either do not have the resources or their cost of production is higher. It has also forced small-time sellers like tea stalls near shops to find other means of livelihood. Statistics suggest that traditional business has been reduced to 1/4th of what it used to be in today’s times, and the competition has increased even more in an already cut-throat world.
Consumers and buyers today are spoilt for choice. They wish to have the most top-notch quality served, and in an immensely affordable price range, sellers can no longer sell what they feel like and get away with it. They are required to put thought and effort into their selling strategy. If they let down the consumer, they can simply choose to go and buy from numerous other options, selling the same thing and at a better price.
