Nov
10
eCommerce vs. Retail: Pros, Cons, and Key Differences
In recent years, the way companies started conducting business has experienced a profound shift mainly driven by the advancements in technology and changing customer preferences. The eCommerce and retail business models have been bumping heads more than ever, putting potential entrepreneurs in a tough decision - should you go online or stick to a physical store?
Even though eCommerce is clearly on the rise, it does not mean that brick-and-mortar shops will subside for good. The traditional shopping experience and retail are likely here to stay in the future as well. Both shopping channels together are predicted to earn 7.43 trillion USD in sales in 2024.
© Statista 2023
So, the main question is - what's the better choice, eCommerce or retail?
In this article, we reveal the differences between eCommerce and retail, discuss the pros and cons, and take a look at the future of online and offline shopping.
So, keep on reading to learn what will shape the shopping experience of tomorrow and discover how businesses are adapting to thrive in this new digital age.