There is a drastic change in the decision making process of a buyer in recent years. They are conducting extensive research before even speaking to a salesman. Buyers are also buying more through there smartphones and laptops without even stepping a foot at a physical store.
To get a piece of it, physical stores need to step into the customer’s shoes and adapt as they are. Buyers are more happy to stay at home and do a research and do their purchase online as long as the barriers of shopping online has been taken care of like security risk, paying for shipping etc. Most of them do not want to wander in the city and look for the product they want to buy and speak to the cashier for completing their purchase. In fact according to a survey 60% of American people like to stay away from a crowded place and shop and 51% prefer to shop from home. Black Friday, perhaps the biggest shopping day of the year received about 6.5 million fewer shoppers than 2015 and 2016. This is a decline which is expected to continue in coming years.
People are not just shopping from home and they are making a purchase wherever they have WiFi or phone service.
If we consider a physical location, getting started online is more manageable and affordable with many vendors and distributors making it easier by including services like drop shipping until sales justify investing in having your own inventory and payment processors making it even easier to take payment with multiple options and lower fees.
The good news is that you don’t have to compete with Amazon or other retail giants. The internet has enabled small companies to sell online with the help of platforms like woocommerce , Magento and Php frameworks which are very user-friendly and affordable at the same time.
Source : business2community.com