Question

How are online stores going to change the age of shopping in-store?

Many people don't have time to go shopping anymore so online stores are very convenient to shop. More and more stores are closing there store front and just becoming a online business. Is this a smart route to go

Answer 1

At the outset, there can be different conclusions for such topics. I will present some probable effects, and a conclusion of my own.

Changes that would happen:

1. Not every business can confine to the online route:
   • Some businesses, usually dealing with expensive items, such as cars cannot be done online for most people. Even the price is by itself a sufficient reason.
   • Some businesses need to physically showcase their goods. Car dealership is an example in this point as well. They need to make test-run facilities. They cannot confine to the online route alone - and this point alone can be a sufficient reason.
   • Little chance that most real estate businesses will use online route other than for advertisements.
2. Now, other businesses, if they choose to do business online, they won't have to pay rents in a very costly location.
   • This reduces the costs of starting up and running businesses. That can lead to economic growth because the entrepreneurs will have more surplus which they can use to provide better services and grow.
   • This also motivates potential entrepreneurs to start new businesses.
   • And because the demand for costly locations will fall, so will the rent in such places - thus giving more surplus to the big businesses (and the ones mentioned in point (1) above. Although this will be a bad blow on the real estate sector, the growth in other sectors will outweigh this. Additionally, the real estate businesses of less costly locations can pick up too, although the blow on real estate as a whole will be harder than the growth in that sector.

Conclusion: The financial aspect of such a shift looks promising as a whole. However we must note that it can adversely affect people's people skills. The experience and knowledge we acquire from going to the physical stores, asking for storekeepers and sales persons for help, building a rapport with them, etc. are invaluable to our socio-psychologic development. We learn essential skills of bargaining, early spotting of cheating, etc. from such interpersonal communication. Needless to say, we can reasonably assume that we all will need and most likely have a cool drinks vendor on a hot day at the heart of the city, a footwears dealer for that day when our shoes may tear, or a tire-shop when we get a flat tire after another.