Thursday, November 15, 2018

E-Commerce Vs Traditional Business

More than 1.8 billion websites and only a minimal number of them are in real business. Then, why people invest in their online presence, when they still find their traditional way of doing business comfortable and making profits. Being online is like a pretty significant fashion, and every company does it. They don't think of converting the traffic coming to their website into profits. The problem is their fear towards technology, which is creating friction in adopting new business solutions. Still, they are not able to realize the value of an online business. Their optimization efforts are devoted to the business place where they provide the face-to-face buying experience to the customers. They might be doing good, but how long? The way the online business is capturing the market segment, for sure, they are going to pose a massive competition to shopkeepers.

A shopkeeper has to think of all the costing including maintenance of business place, but online retailer has once setup the online-shop, only pays the web space and domain renewal cost, which is hundred-thousand times less than that what paid for the physical place. The consumers are becoming digital but the traditional marketers due to unless reasons and frictions, still wish to continue with the same old way. 

The comfort and features, which online business is providing for sure would overtake the traditional companies, and customers would abandon going physically to marketplaces for shopping. Then why so much construction work is going on, big malls are built, getting so much rush, but sales is very less. The big malls are becoming places of travel, and enjoyment. But the way discounts, promotions, and low-price offered by online companies have affected the buyer's experience. It is the also the reason, why companies like Amazon, Flipkart have grown. A shopkeeper may get tired of showing the product, but on the online sites, people are browsing endless products. Before purchasing, check its all the minute details, which sometimes, the shopkeeper may fail to provide. With such easy navigation, from landing pages to home page and searches, people love to navigate, but physically, if you walk in the market the shopping becoming a tedious job.

The scenario is changing, the business has adopted the hybrid mode, in which with the physical shop, they are selling it online also. But, questions come in mind, whether the prices and quality are same. If discounts are available online, why then people would go physically to purchase. Well, if a traditional business exists, there are traditional buying habits also. Some people don't buy, till they feel it physically. Therefore, for such customers, the businessman has employed salespeople. So both ways the business sales funnel is available and has shown conversion significantly. 

1 comment:

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