5 Reasons Why Online Retailers are Crushing Brick-and-Mortar Merchants

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Introduction: The Future of Shopping is Online

Shopping is a pastime that has been around for centuries. But with the rise of the internet, people are now more likely to go online to make their purchases. This has lead to a paradigm shift in how we shop and what we buy.

It’s not surprising that online retailers like Amazon and Walmart have become some of the world’s most valuable companies. The future of shopping is online and it’s only going to get bigger.

Online shopping is a trend that has been growing for the last decade. It’s not just because of the convenience and time-saving aspect, but also because of the incredible variety of products available online.

The future of shopping is online and in the last few years, we have seen a significant shift in the way people shop. More and more people are opting to shop online and this trend is only going to continue.

Online Shopping Experience

Online shopping has been on the rise for years now. A recent study found that 80% of shoppers prefer to shop online instead of in-store. The demand for online shopping is only going to increase as more people become comfortable with it and find it more convenient.

The future of shopping is online and it will continue to grow as a trend in the years to come.

Online shopping is becoming more popular due to the convenience it offers. It is easier for people to find what they are looking for and buy products without having to go anywhere.

Some people prefer online shopping because it is more convenient than in-store shopping. You can shop at any time of the day or night, regardless of how busy you are. With online shopping, you can also browse through different stores at once and compare prices before making a purchase.

online retailers

 

Why Online Retailers are Dominating in Nigeria

Online retail is growing exponentially in Nigeria. According to the World Bank, Nigeria’s ecommerce market is projected to reach $4 billion by 2020.

Sales per year for online retailers in Nigeria are expected to be $1.5 billion by 2020, a jump from the $600 million recorded in 2016. The growth of this sector is attributed to many factors such as increased internet penetration and mobile phone usage, improved customer experience on the website and apps, more investment from international players and increased trust from customers.

With the rise of online shopping, Nigeria is experiencing a shift in how people buy goods and services. Online retailers are dominating in Nigeria with an increase of more than $3 billion in sales each year.

Online retailers are dominating Nigeria as it is the fastest growing market for ecommerce. The country has seen a growth of more than $3 billion per year in sales through online retailers.

The demand for online retail is also increasing as the population continues to grow and internet access becomes more readily available.

Nigeria has experienced a shift from offline retailing to online retailing as this new channel has become increasingly popular and accessible to consumers.

Ecommerce Stats Prove that Brick-and-Mortar Stores are on the Decline

The ecommerce industry is one of the fastest growing industries in the world. It is estimated to grow at a compound annual growth rate of 17% from 2016-2020. The global ecommerce market was valued at $1.5 trillion in 2017 and it’s expected to grow to $4.5 trillion by 2021, representing a five-year CAGR of 18%.

In the past 10 years, ecommerce sales have been on the rise. In 2017, global ecommerce sales reached $2.3 trillion and in Nigeria, online shoppers make up more than 50% of the population.

This is a trend that is not going to stop anytime soon. As more people start shopping online and become comfortable with it, brick-and-mortar stores will continue to decline.

Statistics show that ecommerce sales are growing steadily and brick-and-mortar stores are on the decline. Online shopping is now the norm and Nigerians are among the most frequent online shoppers in Africa.

In this post, we will explore the reason behind the decline of brick-and-mortar stores and how ecommerce is not just a trend but a real threat to traditional retail.

We will also look into some of the statistics that show the impact of ecommerce on Nigeria’s economy.

Ecommerce Vs Brick-and-Mortar Stores

The internet has changed the way we shop. People are now more inclined to shop online because they can compare prices in a matter of seconds and they don’t have to leave their homes.

The convenience of shopping online is so attractive that many people are now making the switch. The number of brick-and-mortar stores in Nigeria has decreased by 3% per year, while ecommerce sales have increased by 6% per year. This statistic proves that brick-and-mortar stores are on the decline.

Online shopping is becoming the norm for many Nigerians. Retailers have been trying to combat this by investing in brick-and-mortar stores. However, a new study has found that these stores are not as successful as they hoped to be.

The study found that more than 60% of Nigerians shop online per day and the number is increasing by the year. This means that retailers will need to find a way to get back some of their customers who have been lost to ecommerce sites.

The Results of the 2021 National Retail Survey Show that More than 80% of Consumers Shop Online

The survey results show that more than 80% of consumers shop online. This means that brick and mortar stores are not as popular as they used to be.

This is a result of the convenience and lower prices of shopping online. It is also because many people find the idea of going to a store overwhelming or don’t have time to go to stores.

The results of the 2021 National Retail Survey show that more than 80% of consumers shop online. This is because there are many benefits to shopping online such as convenience, low prices, and a wide variety of products. This is why brick and mortar stores are struggling to keep up with the competition.

According to recent studies, only 18% of consumers say they prefer in-store shopping over online shopping. The remaining 82% prefer to shop online for their needs and wants. Not only do they find it more convenient, but they also feel like it’s a better option because you can find anything you want in one place without having to go from store to store looking for items.

Conclusion: It’s Time to Embrace the Ecommerce Revolution and Give Up on Traditional Shopping Methods

Ecommerce is transforming the world of retail by making shopping more convenient than ever before, but it is also changing our lifestyles, social interactions, and shopping habits in ways that many may not have expected.

It is time to embrace the ecommerce revolution and give up on traditional shopping methods!!

This article starts off with a brief history of retail, which includes how it has evolved over the years. It also discusses the pros and cons of ecommerce in comparison to traditional retail. The article then talks about how online retailers are adapting to the new digital era by using technology for their stores. The article ends with a conclusion that it is time for people to embrace ecommerce because it offers many benefits in comparison to traditional shopping methods.

 

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