E-RETAILING AND ITS IMPACT IN THE GLOBAL MARKET AND SOCIETY AS A WHOLE

Abstract

Up until about 25 years ago, it took 15-30 days to reach an order from business to consumers if the business trade was made within the country. And if it was an international sale of products then it could take months to reach the customers. Back in the days the transportation facilities weren’t that much good and these detainments happened substantially due to poor transportation system. It also happened due to stock deficiencies, lost orders or wrong shipments. But in today’s e-retailing market a consumers have to wait only 1-7 days to receive an order which was placed within the same country. And all the credit can be given to the internet, IT workers and fast transportation system. This implies that in the present times the supply chain to deliver the products has been improved tremendously through the introduction of various shipment businesses and also good road communication system. And this is the main reason that consumers are getting their desired products in stipulated amount of time. Simply, e-retailing or online retailing means the selling of goods and services through the medium of internet. E-retailing consists of Business to Business that is B2B transactions and also Business to Consumer that is B2C transactions of various ranges goods and services. This type of retailing or we can say merchandising substantially depends upon the internet and transportation services. Nowadays, after the pandemic especially the shift of consumers towards the online retailing has sky-rocketed. In the time of Covid-19 Pandemic people could not go out from their homes and for that reason people trusted e-retailing for their day-to-day purchases. Today we can see that in almost every possible scenario we use some form of e-retailing due to its convenience.

However, while e-retailing has its benefits, it also presents some challenges for the society. The increase of e-retailing has led to concerns about losing jobs in traditional retail sectors, which can have some serious implications for local economies and cultural diversity.