15 years ago, I wouldn’t have ever imagined that there would be another way to buy something other than taking a day off and stepping out of your house. If given a choice, I would have definitely chosen Traditional commerce over E-commerce without even knowing the difference between the two. Why? Well, because of how technical E-commerce sounded back then. For those of you who are still confused, here are 5 differences between E-commerce and Traditional commerce.
Convenience
Need a new bag? But the store is too far away? Go on the internet and search from 100s and 1000s of bags available online without having to step out. If you are someone who likes to explore many options before making a purchase but doesn’t like the judgy eyes of the shopkeeper then E-commerce is the way to go. You can also check out reviews on the bags without actually talking to anyone which in the case of Traditional commerce is unlikely to happen. Sounds pretty convenient right?
Time accessibility
Another difference between E-commerce and Traditional commerce is that while stores have an opening and closing time, there is no such thing in E-commerce. You can purchase a product at any time according to your needs.
Trustworthiness
Traditional commerce has been here for a long time and E-commerce is relatively new. E-commerce is missing the human element that Traditional commerce has. Unlike Traditional commerce, It doesn’t allow physical inspection of goods. Although the trends are changing and there are services available to exchange or return the product. Delivery partners for E-commerce are playing a significant role in making this process smoother and gaining the trust of the consumers.
Variety of products
The other major difference between E-commerce and Traditional commerce is the variety of products they offer. E-commerce offers a wide range of products irrespective of brand. On the other hand, due to limited space, Traditional commerce has a fixed number of products.
Modes of payment
Mode of payment is a notable difference between E-commerce and Traditional commerce. Payment for traditional transactions is generally done by cash or credit cards. Whereas E-commerce transactions have a number of payment options.
The pandemic forced all of us to shift online and while it was challenging, the E-commerce industry paved the way for us. The dramatic rise in e-commerce amid movement restrictions induced by COVID-19 increased online retail sales’ share of total retail sales from 16% to 19% in 2020, according to estimates in a UNCTAD report published on 3 May. As consumer behavior is changing, businesses have started to shift online to cater to the needs of the consumers. The connectivity to the digital world is also increasing owing to the efforts made by the E-commerce industry.