Are you shopping online?
All of the headlines in the retail industry over the last few weeks have centred upon the latest retail craze which has seen online shopping expenditure balloon over the last few weeks. Indeed many sales are announced online before they are announced off-line with many bargains are appearing on a daily basis. But have you caught the online shopping bug?
While there is no doubt the online shopping is set to overtake off-line shopping in due course, there are still millions of people in the UK who have yet to taste this particular delicacy. Due to a mixture of limited Internet access, concerns about security and loyalty to their favourite shops, more and more people are missing out on more and more bargains. A number of online companies are also offering free postage for those acquiring products online, something which is also starting to appeal to more and more people. Would you prefer to shop from the comfort of your sitting room?
In simple terms, the cost base for online retailers has been severely stripped back when compared to those encountered by off-line retailers, allowing them to cut their prices while retaining a similar or better profit margin than their off-line competitors. This is the key to the success of the online industry and one which off-line retailers are unlikely to break.
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