Over the past decade (or more), online stores have developed from something that only tech-savvy companies could create to something even a child can start. Thanks to out-of-the-box platforms such as WooCommerce and Shopify. Well, with e-commerce still going strong, the largest question is: “Will it last?”.
The internet itself will stay here and stand the test of time but e-commerce, is debatable. Ever since websites such as E-bay, Amazon, etc took the world by storm, online shopping has become popular for everybody who finds it easier to order pants from a computer than go to a store to buy them.
Right now, with the expansion, we are not really sure if it is going to stay, we can so far debate whether it might be a fad or trend. Will it last for a long time and develop into something else? Or will it be just these several years and suddenly lose popularity? Yes, I understand a fad is only for like, a year or so but for the sake of this opinion piece, we’ll just say a fad is for a shorter period of time.
First off, the number of online retailers is enormous and with easy to use platforms to create your own website to sell products and services such as Amazon, Alibaba, etc, it’s hard to say that convenient shopping will lose its audience.
But, like Converses, maybe physical stores might regain popularity among the future generations and adapt to become more online but still have the basic benefits of a physical store, such as trying on clothes or face to face customer service.
It will last!
Unlike the internet bubble, e-commerce is built to last. It has already developed to be very cool and with new payment processors, it is even more usable by regular people. It is still being developed and right now, many large companies are closing stores in favor of e-commerce. I’ve seen stores close and push onto online stores and even banking is being pushed online.
Banks such as Tangerine are being pushed online with cheaper banking since there is no physical location involved much and with a Scotiabank takeover, it’s even better.