Online sales are now the fourth largest sector overall, bringing in about $59.8 billion in adjusted sales for February.
With the rise of technology and social media over the years, online shopping has increased, causing about 68 retail stores in malls to go bankrupt and shut down dozens of their locations. The biggest craze of online shopping recently has been Amazon, while stores such as Forever 21 and Charlotte Russe have been going out of business.
Charlotte Russe announced its bankruptcy back in February after announcing the closing of 100 retail stores due to a decrease in sales and in-store customers. However, in April, they announced that they’re re-opening all closed stores and updating their e-commerce sites for better online purchasing under a new owner.
In an article by Digital Commerce 360, millennials make up 60 percent of online purchases. Now that retail stores have mobile apps and can be accessed on laptops, 36 percent of purchases are made on a phone, 26 percent are on a laptop and 40 percent are in-store purchases.
These percentages have increased in 2019 compared to 2017 where 16 percent of purchases are on the phone, 31 percent is on a laptop and 53 percent in-stores. This article has also mentioned that Amazon has been one of the largest used sites among millennials to make online purchases, such as books, clothes, phone cases, etc. due to its convenience and one-day shipping with Amazon Prime.
Although there has been a rise in online shopping, many people still resort to in-store shopping because they find it easier to try on the clothes right then and there. It is more of a headache for people to order an item online then go back to the store to return it or exchange it.
Pros and Cons of Online Shopping
There are a few advantages and disadvantages when it comes to online shopping. Many customers lean towards online shopping because of the convenience and the easiness of it. However, online shopping limits people from communicating and socializing with other people. Prices and sales differ from online shopping than in-store shopping.
“Online shopping is an easier way to shop and I can see all the different options right in front of me,” Samar Dahleh, junior political science and philosophy major, said.
The main disadvantage that steer people away from online shopping is the shipping and handling fees that they are charged on top of the price of the clothes that they are already paying for. Sometimes customers are charged return shipping fees if they cannot access the retail store.
On the other hand, a few pros to online shopping includes sales, more item options and easier to shop during holidays and bad weather. The major online spending customers is during Cyber Monday when people cannot get what they wanted from Black Friday and without the whole chaos of Black Friday.
Another advantage to online shopping is the ability to be on the store’s site at whatever time of day you prefer because the site is up and running 24/7. Also, customers use online shopping for reviews and recommendations of an item.
“People are getting more busy and can’t really make time to visit the mall so they rely on online shopping,” Giovanni Peralta, senior human resources management major, said.
Pros and Cons of Mall Shopping
Many people still use shopping malls as both a form of entertainment and to do their everyday shopping. Malls are used as entertainment for millennials and older customers because some malls have food courts and cinemas, as well as a place to get out and shop.
One advantage of shopping malls for customers is that they are able to try on their clothes before purchasing it and they can get their item that same day without the trouble of shipping fees and business days.
However, a disadvantage of shopping malls, especially during holidays, are the long lines, parking situations and overcrowding.
Megan Marley, sophomore early and special education major, said a con about mall shopping is, “the limited sizes, item is sold out in store and prices are high.”
Although both mall shopping and online shopping have their advantages and disadvantages, customers still tend to both to purchase their items, with online shopping having a higher percentage of customers.