Once Amazon announced that it would purchase grocery retailer Whole Foods, many people speculated that e-commerce was starting to dominate brick and mortar stores. But is that true?
With the increasing popularity of online buying and selling, brick and mortar stores might like their days are numbered, but this might not be the case. In the U.S., in-store sales remain around 10 times more common than online transactions. On the other hand, online shopping has grown around three times faster, so traditional stores might fall behind in a short time.
But should physical storefronts start to worry? Stats show that slightly more than half of Americans prefer shopping online rather than in-store, and 67 percent of millennials and 56 percent of Gen Xers would rather shop online than in-store.
But could we really shop for everything online? Personally, I don’t think I could buy a car without seeing it in person! People like shopping in-store mainly because they can see and touch items first, while some items lend themselves better to e-commerce.
The takeaway from this infographic? Brick and mortar stores aren’t necessarily doomed, people would rather try things on and see them in person before purchasing, and the convenience of 24/7 shopping isn’t relevant when it’s time to make a big purchase you need to see in person.