The technology has given us new tool to rule “Internet” the most remarkable and significant invention being made in the mankind. Today life and business both cannot be imagine without it. The internet has added a new dimension to the traditional nature of retail business called “ONLINE RETAILING” means buying and selling through virtual presence.
Online retailing:- Online selling, online buying, e-commerce whatever call it by any name. It became the new way of doing business and a new way of experiencing shopping. In this fast paced scenario, online retailing provides masses an easy way to carry out its business. It comes up with many advantages like convenient shopping, large variety of virtual products existence, save time,energy,money etc that‘s why it is continuing to beat the geographical - demographical restriction and taking off the retailing business globally.
Information technology and the internet both together made the online retailing possible. It is a way of doing business through fully automated system connected with the web at all the time.Its daily activities are managed by complete automated process, no manual operation required. From billing to check inventory from purchasing to selling everything is automated. They focus entirely on customer services, so tried hard in making customer happy and satisfy by the service offered.
But does it mean that now brick and mortar store is at the edge of shutting ? No, exactly not The online retailing became relevant just few years before while traditional way of retailing existed since the existence of mankind. There are certain things in brick and mortar stores with which online retailer could never compete and would always remain devoid of these.
These are the main reason that’s why every big brand, every online retailer wants to have it physical store where there would be direct interaction between customers possible.
Then question arises why traditional retailing lagging behind despite of having advantage over online retailer and struggling hard to survive. Reasons:
How to win the Retail war:- In the current retail environment of rapid technological and cultural change, retailer who thrives will be those who are able to experiment their ways of success- innovating, testing, discarding the failure and implementing them at speed and scale. Things need to be done:
In this digital world of retailing, how far it is correct to keep manual cash register when technology has given us an electronic scanning POS system, how far it is good to manage inventory manually when technology has already provide us an easier and effective solution, how far it is good for business that retailer fails in anticipating today’s or future demand when we have technology to do so.
This is the core area where traditional retailers have to work. They have to understand that technology is meant for adding more efficiency and effectiveness to the task. By uniting traditional retail adavantage with the today‘s technology , brick and mortar retailer have the opportunity to offer consumer an experience surpassing that of online retailers.
Traditional retailing always have an edge over online retailing, it is just with time it has to re-invent and rejuvenate itself for the digital age. It has to use an integrated e-commerce, online marketing approach within the storefront architecture so that all shoppers will get the “best of all worlds”.