How Online Shopping is Evolving
When it comes to the Internet, Millennials and Generation Z have it easy. With access to a vast array of information, content can be generated in less than a few seconds. As these technological advents continue, they are becoming almost commonplace despite the groundbreaking change they bring. We are reaching a time where it is easy to take what we have for granted. Right now, you could open up a new tab without taking your hands off the keyboard. Within a few minutes, you can drag and drop those shoes you’ve had your eye on for a few months because they just went on sale in your collection. No matter where you are, you can simply whip out your credit card and buy almost anything right from your phone, especially after receiving your Shopicks sales alert! Accessibility has never been easier, and it will only continue to evolve as we are now conditioned to expect.
Since the turn of the century, the percentage of Americans who have made an online purchase of any type has increased by roughly 57%. Although this number has increased dramatically, another survey discovered that the majority of individuals prefer shopping in an actual retail store. Fair, since the process is more tangible that way. The explosion of online shopping continues, however, because of the extensive available options, and most importantly, the price. Price makes or breaks a purchase for a consumer as fundamental economics would predict. The best part? Saving money has never been easier. Gone are the days of coupon clipping and store-hopping to compare deals.There are seemingly an endless amount of deals and no standstill lines to wait in that prevent you from taking advantage of them. Price and convenience will always win in the eyes of the consumer, which is why Shopicks gives you the sales notifications you are always looking for.
As a result of the rapid growth in e-commerce interest and usage, the market has responded in turn over the past decade. Jobs in this field are progressing at an exponential rate. Even when online purchases make up less than 10% of cumulative retail sales across the nation, employment at these e-commerce firms has surged by over 300% since 2000. This has progressed to a point where they have sufficiently outpaced the job growth in the retail industry. These firms can function with fewer employees who are afforded higher average wages because of their relatively high value to the company.
Although the progression of technology provides online shopping with the means to organically grow, the market would descend into chaos if other forms of retail had no response. Clearly, there is still a high interest in physical shopping, and if companies completely gave into e-commerce, there would be a gaping hole in the job market. Retailers inevitably have to respond, and there is evidence of this just within the past few weeks. Once rivals, the massive broadcasting network moguls QVC and HSN settled on a $2.1 billion merger to combat the explosive online market. Even Amazon, the largest online retailer in the nation, demonstrated the value of physical stores with its acquisition of Whole Foods. Yes, e-commerce is encroaching on a hallowed retail ground, but there will be a response. And there should be. We love online shopping, but there needs to be a balance between the two. There are advantages and disadvantages to each, but both provide value, and consumers will always appreciate options.