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Online Vs Offline Store: Who Is Winning The Retail War? - Business - Nairaland

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Online Vs Offline Store: Who Is Winning The Retail War? by Opinionated: 1:17pm On Oct 11, 2018
Doing business in the present world has significantly being disrupted. Shoppers do not need to visit physical stores to do their shopping. They can do so from the comfort of their bedroom via a computer or an internet-savvy mobile phone.

With the geometric growth and proliferation of online retail businesses, you would think that the traditional brick and mortar businesses would have gone into extinction. Fortunately or unfortunately, this is not the case, it appears that offline stores still remain relevant and resilient.

Traditional Brick and Mortar Stores

To describe yourself as an entrepreneur in the past, you have to own a physical office or store where the customer walks in to purchase an item. But, there are quite a number of factors working against this. For example, in Lagos, many people are quite busy that they do not even have the time to visit these physical stores. You can add the Lagos traffic and also the time you spend scurrying from one shop to another to purchase all the items you want. Here, convenience is not the watchword.

The 21st Century shopper


Offline stores are now seriously under threat by online stores. The edge online stores have over the traditional store is convenience. It is very convenient to shop online. A platform like Jumia which pioneered ecommerce in Nigeria has shown that this is actually the case. The 21st-century shopper doesn't want to jump from one store to another to make their purchases.

Other reasons why online stores seem to be gaining momentum include (1) the possibility to reach more customers (2) You don't need to break the bank to own an online business (3) It offers more employment opportunities (4) You will get the best price i.e. it is affordable.

Are traditional stores under threat?

Undoubtedly, traditional stores are under threat because the competition to create value just keeps getting tougher. In fact, some offline companies have moved their entire businesses online while others have concocted or blended the two. They have both a thriving online and offline business. A good example of this is the print media. Many print organisations now have the print and online version of their newspapers. They have successfully transcended the challenge without necessarily shutting down their print version. Meanwhile, a good number of others have liquidated or folded up. Good examples of these are popular businesses such as Kingsway, UTC and Leventis

Furthermore, even if some offline stores are still alive, they have been forced to take some drastic decisions as well as innovate so that they can be in line with the 21st-century business trend. And of course, you cannot argue that the future of business is online as many branded names like Jumia, Amazon, and eBay among others are evolving their business to better serve their online customers.

Recently, Tantalizers presented its financial reports to the public which rendered the quick service delivery business unprofitable. According to the Chairman, Board of Directors of Tantalizers, Dr Jaiye Oyedotun, three major challenges rendered the company unprofitable at the end of 2017: (1) Reduction in credit opportunities. (2) Weak consumer demands. (3) Stiffer competition.

In an opinion piece titled Dear Quick Service Restaurants (QSR), Take Your Menu Online To Become A Sustainable Business by Olukayode Kolawole, he urged Tantalizers to signup to Jumia's food delivery services and watch how the business will grow in the next 12 months. This is one of the threats online stores are posing. It is either business shape in or shape out.

Can there be a meeting point between offline and online store?

Although an online business brings along with it affordability and convenience like Jumia is doing, we must not forget that there are a large number of Nigerians who are still offline. In other words, they do not have internet access and therefore, it is highly possible they will not perform their transactions online. This is backed by research as 53% of Nigerians do not have internet and most of them reside in rural areas.

Hence, the retail race, especially in emerging economies, cannot be won by online stores alone. There must be a synergy between an offline and offline to provide quality and sterling services to customers.

So who is winning the retail war?


Sorry to disappoint you, there is really no retail war. It is a matter of innovation. While online stores may appear to have the edge, offline stores are evolving because they do not want to vanish! Ultimately, if a business is offline, it is advisable to move online so that they will remain relevant, Not doing so could be catastrophic.


Source: Online Vs Offline Store: Who Is Winning The Retail War?

5 Likes 1 Share

Re: Online Vs Offline Store: Who Is Winning The Retail War? by dominique(f): 1:03pm On Oct 16, 2018
Offline in this part of the world

33 Likes 2 Shares

Re: Online Vs Offline Store: Who Is Winning The Retail War? by GrammarNazi1(m): 1:07pm On Oct 16, 2018
dominique:
Offline in this part of the world
Prank.




tongue

1 Like

Re: Online Vs Offline Store: Who Is Winning The Retail War? by GrammarNazi1(m): 1:08pm On Oct 16, 2018
Opinionated:
Doing business in the present world has significantly being disrupted. Shoppers do not need to visit physical stores to do their shopping. They can do so from the comfort of their bedroom via a computer or an internet-savvy mobile phone.

With the geometric growth and proliferation of online retail businesses, you would think that the traditional brick and mortar businesses would have gone into extinction. Fortunately or unfortunately, this is not the case, it appears that offline stores still remain relevant and resilient.

Traditional Brick and Mortar Stores

To describe yourself as an entrepreneur in the past, you have to own a physical office or store where the customer walks in to purchase an item. But, there are quite a number of factors working against this. For example, in Lagos, many people are quite busy that they do not even have the time to visit these physical stores. You can add the Lagos traffic and also the time you spend scurrying from one shop to another to purchase all the items you want. Here, convenience is not the watchword.

The 21st Century shopper


Offline stores are now seriously under threat by online stores. The edge online stores have over the traditional store is convenience. It is very convenient to shop online. A platform like Jumia which pioneered ecommerce in Nigeria has shown that this is actually the case. The 21st-century shopper doesn't want to jump from one store to another to make their purchases.

Other reasons why online stores seem to be gaining momentum include (1) the possibility to reach more customers (2) You don't need to break the bank to own an online business (3) It offers more employment opportunities (4) You will get the best price i.e. it is affordable.

Are traditional stores under threat?

Undoubtedly, traditional stores are under threat because the competition to create value just keeps getting tougher. In fact, some offline companies have moved their entire businesses online while others have concocted or blended the two. They have both a thriving online and offline business. A good example of this is the print media. Many print organisations now have the print and online version of their newspapers. They have successfully transcended the challenge without necessarily shutting down their print version. Meanwhile, a good number of others have liquidated or folded up. Good examples of these are popular businesses such as Kingsway, UTC and Leventis

Furthermore, even if some offline stores are still alive, they have been forced to take some drastic decisions as well as innovate so that they can be in line with the 21st-century business trend. And of course, you cannot argue that the future of business is online as many branded names like Jumia, Amazon, and eBay among others are evolving their business to better serve their online customers.

Recently, Tantalizers presented its financial reports to the public which rendered the quick service delivery business unprofitable. According to the Chairman, Board of Directors of Tantalizers, Dr Jaiye Oyedotun, three major challenges rendered the company unprofitable at the end of 2017: (1) Reduction in credit opportunities. (2) Weak consumer demands. (3) Stiffer competition.

In an opinion piece titled Dear Quick Service Restaurants (QSR), Take Your Menu Online To Become A Sustainable Business by Olukayode Kolawole, he urged Tantalizers to signup to Jumia's food delivery services and watch how the business will grow in the next 12 months. This is one of the threats online stores are posing. It is either business shape in or shape out.

Can there be a meeting point between offline and online store?

Although an online business brings along with it affordability and convenience like Jumia is doing, we must not forget that there are a large number of Nigerians who are still offline. In other words, they do not have internet access and therefore, it is highly possible they will not perform their transactions online. This is backed by research as 53% of Nigerians do not have internet and most of them reside in rural areas.

Hence, the retail race, especially in emerging economies, cannot be won by online stores alone. There must be a synergy between an offline and offline to provide quality and sterling services to customers.

So who is winning the retail war?


Sorry to disappoint you, there is really no retail war. It is a matter of innovation. While online stores may appear to have the edge, offline stores are evolving because they do not want to vanish! Ultimately, if a business is offline, it is advisable to move online so that they will remain relevant, Not doing so could be catastrophic.


Source: Online Vs Offline Store: Who Is Winning The Retail War?

cc: lalasticlala mynd44
...has significantly been...

5 Likes 3 Shares

Re: Online Vs Offline Store: Who Is Winning The Retail War? by Benscolari: 1:14pm On Oct 16, 2018
GrammarNazi1:

...has significantly been...
#what is this stupid anomaly for?
You've been going to every section to correct peoples tenses and all what not.
Does English look like our native bilingual language?
Is this how jobless you are?
You'd better channel your energy into doing something productive, than partake in nefarious and meaningless grammar check.
Grammar check my black as$ angry

57 Likes 3 Shares

Re: Online Vs Offline Store: Who Is Winning The Retail War? by akeentech(m): 1:14pm On Oct 16, 2018
If you are not online you are nowhere to be found.

Get your business online today contact me for that.

If it's Akeentech it's 100% legit

3 Likes

Re: Online Vs Offline Store: Who Is Winning The Retail War? by kirkwood: 1:15pm On Oct 16, 2018
Offline is the best. I can remember buying online from Chicken Republic and they cheated the hell out me.

10 Likes

Re: Online Vs Offline Store: Who Is Winning The Retail War? by gabzymedia: 1:15pm On Oct 16, 2018
Rightfully said there's really no war as a physical store owner can also have the online version

2 Likes

Re: Online Vs Offline Store: Who Is Winning The Retail War? by itiswellandwell: 1:15pm On Oct 16, 2018
Hmmm
Re: Online Vs Offline Store: Who Is Winning The Retail War? by Hopium: 1:15pm On Oct 16, 2018
Wo, look here, if your business is not online or you are not marketing your business online, you are on a long thing. You are losing exposure, revenue, and huge client base.

In this time and era, I don't want to visit the market before knowing where and who is selling what I need; when you can easily "market" your contact to me on Twitter, IG, or Nairaland self. I can simply get the contact, head over WhatsApp to chat with you, see what you offer in images, make enquires, negotiate deals, book appointment. All these while I may be at the office, at home, at the airport, eatery, anywhere.

It's magic; businesses and potential clients are somewhat connected 24/7. Though simple but not easy, the result beats doing business offline hands down.

Just imagine: I wanted contacts of male fashion stores for designers suits, clothing, shoes, and accessories in Ilorin. I couldn't find a single direct contact on Google and Nairaland. I needed to see the caliber of goods the store has before traveling there to purchase. I can't imagine toiling in the sun in the name of looking for a store to make purchases when no be say I wan buy ata rodo for market. The same thing happened with finding a male fashion designer there.

Compared to Lagos and some other cities, I could easily get a handful of contacts on IG and strike a deal instata.

If you are a business person, no matter how small the business may be, just try and get your business online. It a no- brainer! You go just see say as you dey chop or phuck kpetus, business deals go dey enter. I experience this a lot. Sometimes, before waking up in the morning, business opportunities already arrived through a midnight message (this is no stranger if you are freelancer and you have clients all over the world).

Online marketing if done well is a perfect case of "Na them dey rush us"

12 Likes 2 Shares

Re: Online Vs Offline Store: Who Is Winning The Retail War? by Abbeyme: 1:16pm On Oct 16, 2018
Here is it!

Click LIKE for Online.

Click SHARE for offline.

Let the WAR start!

18 Likes 31 Shares

Re: Online Vs Offline Store: Who Is Winning The Retail War? by omomummy13: 1:17pm On Oct 16, 2018
In Nigeria, OFFLINE STORE.....

You can take that to the Bank.

4 Likes

Re: Online Vs Offline Store: Who Is Winning The Retail War? by BruncleZuma: 1:17pm On Oct 16, 2018
Ask Amazon and Alibaba

8 Likes

Re: Online Vs Offline Store: Who Is Winning The Retail War? by Nobody: 1:18pm On Oct 16, 2018
Even retailers are going online.
Re: Online Vs Offline Store: Who Is Winning The Retail War? by Nobody: 1:19pm On Oct 16, 2018
To me both of them combined is preferable.

imagine if jumia have like a mall where you can easily go pick stuffs up after checking them up on their website, their sales will increase

because customers will be very confident to buy with them because not all people have the mind to pay for something online and wait for the seller to deliver them just like its done on aliexpress and amazon especially in a 3rd world country

8 Likes

Re: Online Vs Offline Store: Who Is Winning The Retail War? by Adakintroy: 1:19pm On Oct 16, 2018
Online ke...what you will see you will not be able to talk sometimes.

3 Likes

Re: Online Vs Offline Store: Who Is Winning The Retail War? by Josh44s(m): 1:19pm On Oct 16, 2018
akeentech:
If you are not online you are nowhere to be found.

Get your business online today contact me for that.

If it's Akeentech it's 100% legit

Look at this f00l. Which online business? Online businesses is a sham in Nigeria due to highcost of internet access in Nigeria. Change the nature of your job my friend.

7 Likes 1 Share

Re: Online Vs Offline Store: Who Is Winning The Retail War? by Nobody: 1:19pm On Oct 16, 2018
The writer is clearly trying to market Jumia. Smart, Very smart

3 Likes

Re: Online Vs Offline Store: Who Is Winning The Retail War? by thunderbabs: 1:21pm On Oct 16, 2018
Offline oo..

That online na BiG ScAM

3 Likes

Re: Online Vs Offline Store: Who Is Winning The Retail War? by ednut1(m): 1:21pm On Oct 16, 2018
Offline

1 Like 1 Share

Re: Online Vs Offline Store: Who Is Winning The Retail War? by SoNature(m): 1:21pm On Oct 16, 2018
Please there is no English as Offline shop undecided

It's called brick-and-mortar store!

4 Likes 1 Share

Re: Online Vs Offline Store: Who Is Winning The Retail War? by wonlasewonimi: 1:21pm On Oct 16, 2018
Online is the way to go... Traditional brick and mortar stores will die naturally.

2 Likes 1 Share

Re: Online Vs Offline Store: Who Is Winning The Retail War? by Opinionated: 1:22pm On Oct 16, 2018

Re: Online Vs Offline Store: Who Is Winning The Retail War? by pinkApril: 1:22pm On Oct 16, 2018
well I dunno who is winning..... all I know is that I had to close my offline store to go into online business cos I could no longer afford the rent.
now I have 6 staffs I pay 30k monthly... no tax,no shop rent and I have enough time to spend with family and love ones....

3 Likes

Re: Online Vs Offline Store: Who Is Winning The Retail War? by OlujobaSamuel: 1:22pm On Oct 16, 2018
see and buy tinz for me ooo, online store wey no get protection for consumers in nigeria.
I only trade on online stores with offline presence, eg Slot, you cant package akara ewa for me as oyinbo akara and u begin dey yan me dust on why i no fit get my ego/kudi/owo back

1 Like

Re: Online Vs Offline Store: Who Is Winning The Retail War? by Darkseid(m): 1:23pm On Oct 16, 2018
In this part of the world there is no need for comparison. If you run an online only store, you'll still need to run around to distribute your products to customers; just imagine how much that would cost for transportation unlike an offline business owner who can simply advertise and have people coming to him instead.

Even as big as Jumia is, with all the money they spend on adverts, a high percentage of Nigerians still don't trust them let alone you that is just starting. The best way is to have an offline store with an online presence.

2 Likes 1 Share

Re: Online Vs Offline Store: Who Is Winning The Retail War? by troubleseller: 1:23pm On Oct 16, 2018
Benscolari:
#what is this stupid anomaly for?
You've been going to every section to correct peoples tenses and all what not.
Does English look like our native bilingual language?
Is this how jobless you are?
You'd better channel your energy into doing something productive, than partake in nefarious and meaningless grammar check.
Grammar check my black as$ angry
The guys' moniker is GrammarNazi1. What do you expect?

3 Likes

Re: Online Vs Offline Store: Who Is Winning The Retail War? by yesloaded: 1:25pm On Oct 16, 2018
Both help each other.

When you have offline store & online presence, it makes client have more trust in you(based on personal experience) although without offline store you can still makes good sales. I have clients of more than 3years that we've never met in person but we keep doing business without problem.
Re: Online Vs Offline Store: Who Is Winning The Retail War? by Nobody: 1:27pm On Oct 16, 2018
The only time I bought something online,was a solar charged power bank I ended up being cheated as the price and delivery cost was the more than the cost of buying offline plus it was fake as it doesn't charge in the sun undecided

1 Like

Re: Online Vs Offline Store: Who Is Winning The Retail War? by Nobody: 1:28pm On Oct 16, 2018
I'd go offline any day.

Online stores can be shady and you can buy stuff at double the price if you're not careful.

In offline stores you see first what you get but online, you get what you see good or bad!

1 Like

Re: Online Vs Offline Store: Who Is Winning The Retail War? by miqos02(m): 1:30pm On Oct 16, 2018
Poo

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