Online Shopping vs In Store Shopping – Infographics
Online shopping vs in store shopping is a debate that became prevalent over the past few years, mostly due to the advent of online stores. As a direct result of retail and e-commerce combining efficiently, online retailers grew in popularity all around the world.
It goes without saying that online shopping made life easier for all shoppers. Shopping online is one of those innovations that served to make life more comfortable and convenient. A good many of the tech innovations you enjoy today, including smartphones, planes, and the internet, all facilitate seamless, enjoyable shopping experience.
What Is Online Shopping?
Online shopping can be defined as a derivative of retail e-commerce where you can purchase from a retail e-commerce store on the Internet. It is rare to see a commodity that you cannot purchase online. From material goods such as gadgets and clothing down to consumables such as groceries and food, everything is available to you from the comfort of your couch.
With online shopping, you can buy various types of goods and services at different online retail stores and vendors. Even services such as IT, plumbing, indoor decorating, and others can be procured online. As long as you have internet access and a credit or debit card as the case may be, the world is your oyster.
In the past decade, online shopping has become a central part of the life of an average internet user.
Online Store vs In Store Shopping – Features Exclusive To An Online Store
Customers have the luxury of choosing to shop online or in a physical store. When it comes to features, online store vs in store shopping debate seems to lean heavily towards the online store. Online stores have a versatility and accessibility that you just can’t create in stores.
An online store allows you the opportunity to browse through a large selection of products. You can visit an unlimited amount of vendors in a day and compare prices and quality of products from different vendors.
Additionally, most online vendors have a specification and features section that you can use to make an informed decision whether to buy a product. In some cases, you can also talk to the manufacturers and inquire about the item or service you intend to purchase.
Online stores also allow you to read product reviews from people who have bought and used a product in the past. If you have shopped online consistently, you can attest to the positive impact that product reviews had on your shopping decisions.
Online Shopping vs In Store Shopping – The Financial Aspect
The choice of online shopping vs in store shopping might split opinions amongst most shoppers, but the truth is that both modes of shopping generate substantial revenues. It almost looks like they are complementing each other.
When it comes to online vs offline shopping, online sales have been growing at an astounding rate. However, there is a considerable number of shoppers that still prefer going to a physical store.
It would interest you to know that online shopping is growing at the rate that is 3 times faster than that of offline shopping. Despite this fact, when it comes to revenue, in store shopping has the edge in total sales.
In fact, in store shopping has online shopping firmly in its rearview mirror. At the end of the last financial year, in store shopping had total global sales 10 times that of online shopping.
In the US, online shopping has been calculated to be a 451 billion dollar industry, a 103% increase from 2016. Additionally, 51% of all Americans prefer to do their shopping online. The 67% of all American millennials also prefer online shopping.
This, however, doesn’t mean that offline shopping is not without its edges in the whole online shopping vs in store shopping battle. In fact, 64% of the total amount spent on shopping in the US is accounted for in store shopping.
Globally, especially in Africa and the Middle East, in store shopping is still winning the lion’s share of profits. While the average customer makes 22 online purchases per year in Asia, that figure is just 11 in Africa/the Middle East.
Ten years ago, in-store shopping had a big lead financially when it came to online shopping vs in store shopping. Today, that lead has reduced drastically. With more tweaks to the retail and e-commerce system taking place every day, it is entirely possible that online shopping might have the financial edge in the years to come.
An informative post and infographics below from Redbrain clearly shows online revenue has skyrocketed over the years, for many major U.S. companies.