The future of online shopping seems bright. With the higher cost of living in Malaysia, people are looking for a cheaper way for shopping. This includes reducing fuel consumption, expenses and time consumption. According to Ipay88, about 70% of Malaysian online shoppers shop during working hours. According to McKinsey, Japanese consumers are shifting towards online shopping and increasingly resemble their Western peers.
The recent announcement by Adidas that it will be closing several of its stores to focus more on its online sales. According to the CEO of Adidas, the in-store sales are failing due to a growing number of retailers shifting their focus to e-commerce. Furthermore, Rorsted mentioned that Adidas website is the most important store it has in the world.
It is not compulsory for every business to advertise using a website. But, a website is a very effective medium to represent a company, business and, brand online, and as a communication tool. According to statistics, 89% of the customers expect a business to have a website. So, it is a matter of trust and reputation. A website for your business gives you credibility and can boost your sales using reviews.
Last but not least, prepare your business towards what analysts are calling as “retail apocalypse,” where in-store sales are failing while the e-commerce is growing.