The growth of online shopping will one day lead to all shops in towns and cities closing. Do you agree or disagree?

The growth in e-commerce activities has been somewhat high in recent times, and
this
is expected to grow at a faster pace in the coming years due to the increase in internet penetration and a high number of mobile phone users across the globe. Will
this
new shopping trend lead to the total closure of brick and mortar stores? I disagree to an extent. With the introduction of online payment systems, individuals are increasingly purchasing food and other household
items
online rather than buying them at physical stores primarily due to the relative ease and convenience associated with
this
method of shopping. These online platforms have
also
been able to build trust and brand loyalty over time which is helping them to acquire a growing number of new customers.
However
, as human beings are social animals, I believe there will always be a segment of consumers who would prefer to buy
items
offline as it can be difficult to replicate the actual experience of visiting a mall.
Also
, not all consumers will be tech-savvy and some
items
like cars, houses, and many personal
items
are best purchased physically. Certainly, we are beginning to experience the impact of online shopping as demand is shifting away for out-of-town mega malls which will lead to the closure of some of them. Despite
this
, I believe that there will always be a need for physical stores largely due to the experiential element that I mentioned earlier.
This
would be a trend that investors in retail outlets would have to watch closely but I envisage that the split between online and offline retail activities will be around 50:50 in the long-term.
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Topic Vocabulary:
  • e-commerce
  • brick-and-mortar
  • physical stores
  • online retailers
  • retail apocalypse
  • digital economy
  • consumer behavior
  • sustainability
  • commercial landscape
  • high-street
  • consumer trends
  • augmented reality
  • showrooms
  • carbon footprint
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