You Thought Retail Was Dying? Think Again…

NEWS BTC

Bitcoin / NEWS BTC 11 Views 0

Over the past decade, e-commerce sales have soared. Many people are claiming that e-commerce will be the end of retail stores.

However, recent figures have shown that the truth is definitely very different from what we were expecting.

Will E-commerce Really Replace Retail?

There isn't a doubt that e-commerce has transformed the best way we shop – especially with the recent rise of buy online, pick up in-store trend that was recently introduced by Amazon.

retail
Image Credit: Depositphotos

In fact, everyone has heard of the e-commerce giants like Amazon and eBay. But what number of other e-commerce-only stores can you name off the highest of your head? The likely answer is: not that many. Actually, all but one of the top 10 US retailers are physical stores.

The truth is, despite the various stories of retail stores being forced to shut down and liquidate, there have actually been a lot of cases when it’s gone the opposite way around. This may be seen as recently as this year when Walmart bought up several of its online competitors.

Why is Retail Still So Popular?

But shopping online is a lot easier. It’s fast, it’s convenient, and we don’t even should get off the sofa…right?

 The reality is, despite what we tell ourselves, the world loves to buy. It satisfies a few of our most primitive hunter-gatherer instincts and has cemented itself as one among our on a regular basis habits.

Despite the rapid rise in technology over the past decade, there's still something inherently satisfying about walking into a store and picking up a physical product.

Often, we don’t just shop because we need to buy things. For a lot of, it's a fun social experience, a option to chill out and unwind, or just an enjoyable strategy to pass time.

Combining E-commerce and Retail Shopping

Retail shopping is here to remain for the foreseeable future. However, mobile technology has undoubtedly changed our shopping habits irreversibly.

There was a recent influx of retail apps over the past few years. The 7-Eleven app, for example, sends coupons to your phone that you could redeem in store.

It also has a member barcode that permits users to earn free drinks, a store locator, a feedback system, and a ‘7Rewards’ feature that provides users points for each dollar they spend in store to encourage users to download it.

retail
Image Credit: Starbucks

The Starbucks app has also been an enormous success. It allows users to pay and collect loyalty points without the effort of an additional physical card.

The app was released back in Spring 2009. By October 2013, more than 11% of Starbucks’ sales volume came through its mobile wallet.

But what if there was a approach to combine the convenience of e-commerce with the joys of shopping in a retail store?

retail

Shping is one new blockchain startup working on bringing ecommerce along with retail. It's designed to make retail shopping smarter – and it even directly rewards its users for his or her engagement within the process.

The best way the platform works is straightforward. Users simply scan any product barcode using the app. From this, they will learn what is in it, where it's from, and whether or not it's certified. They may even have access to reviews from other users, which they will use to decide about whether or to not purchase the product.

Essentially, it provides the fun of retail shopping, while still allowing users to make a fully informed decision in the identical way as they might when shopping online.

In return for scanning barcodes, uploading product photos, and writing their very own reviews for products they have purchased, users also can earn Shping coins.

Large media giants like Facebook are currently making billions every year because of advertising to their 2 billion-strong user-base.

However, decentralized blockchain platforms will enable brands to channel their budgets to reward customers for his or her engagement, as an alternative of funneling billions into faceless, third-party media companies.

Changing Advertising As We Know It

The method of mixing e-commerce with retail could completely transform the advertising landscape as we now have come to know it.

As an alternative of companies having no other option than to shove advertisements in our face while we’re watching cat videos on YouTube or trying to talk to our friends on Facebook, they are going to be given the unique opportunity to hook up with us right in the mean time it's most appropriate – once we’re inside the shop, ready to purchase their product.

These unique features provided to us by the decentralization of advertising will undoubtedly allow brands to attach with their customers like never before.

Rewarding customers for loyalty will only strengthen the connection between brands and users.

As an alternative of feeling like a commodity being marketed to and spammed with advertisements for products they don’t want, users will grow to be a valuable a part of the method.

The entire landscape of shopping and advertising could possibly be about to shift in front of our eyes.

Comments