Loom more into retail store and online banking. Not to mention that some companies are only online, where older generations might not even know about them at all. I knew that online shopping was becoming more common in these days, especially because it's so convenient, but I never imagined just how many jobs are lost because of it. As a person who shops a lot online and in stores, this has surprised me since I really didn't know that online shopping has basically taken off shopping in stores. The COVID-19 global pandemic is having a profound impact on consumers’ lives. As stay-at-home orders and country-wide lockdowns start to be eased, consumer behavior continues to be driven by new personal circumstances, such as changes in discretionary income and spare time, and reconsidered values and priorities. I never think about the people who run online servers, package products, produce products, and how they are employed BECAUSE of the boost in online sales. Moreover, these types of jobs would likely be distributed a bit more evenly across the country. Online shopping is growing and will continue to grow. This study finds a positive relation between the online shopping stimulators and shopping behaviors of respondents. I wonder if the future is completely online or will retail stores gain traction with new marketing and products? Something really sad that I found in your article, is how many physical and in-store jobs have been taken away in only the past few years. Retail stores use a sort or stock market method while online banking and shopping use more of a trade and go method. Many points--both positive and negative--were made and are absolutely true. Thus it has a large economic impact. Online sales have surged in recent years, but employment by online sellers has not equalled the displacement of workers from physical stores. People are saying that they just find it easier to sit at home or even work and buy what they need right there. I think that your topic is extremely important today and is something that is making a huge impact on the economy. As a person who thoroughly enjoys shopping, especially from the comfort of my own home, it was really surprising to see just how much online retail has affected physical stores. They are often considered as secondary but will be key in the growing competition to differentiate the partners: Lastly, considering European Commission figures, Individuals Having Received Wrong or Damaged Goods or Services when making Online Purchases in the EU28 increased from 5% to 6%. Personally, I think that the reason physical stores are starting to fail is because of the cost and different discounts. Whilst growing rapidly, it should come as no surprise that the online shopping industry will also have to cope with side-effects such as damaged goods, delivery time and costs, and online fraud. Online shopping is something people do constantly but never really think of the effects that it may have on others. [Show full abstract] impact of motivational factors on online shopping. If people are online shopping at these certain stores such as Sears they would still be in business. I learned a lot from reading this, like how unemployment rates are growing because of the online shopping. The fact that 200,000 people have been unemployed and 80,000 jobs have been eliminated all together was a consequence of online shopping that I never even thought might result. Online storefronts require fewer employers to operate them. Online shopping doesn't give you those little reminders because you are just pushing a button. The same goes for online retail employment--will that continue to increase, as well? I agree with what you have written. I would be interested to know if the decrease in department stores affected the other branches that you mentioned were NOT affected, in a sort of chain of events manner. Yes, department stores have failed to make their business successful but that is not from online shopping. I just click a button on my cellular device and watch as the prizes decrease as more people are buying. Impact of the online channel 4.2.1. Among the most appreciated advantages of online shopping there is certainly savings, both in terms of time and money. I personally online shop a lot. 4.2. I also enjoy shopping at the physical store rather than online because of those same reasons. In the first two months of 2017, China’s online sales dramatically reached US… Though online shopping is boosting the US economy, I think that this increase in online shopping and decrease in shopping in-store has more of a negative affect than a positive affect because of the loss of thousands of job positions and the lack of interaction that continues to increase with people today. However, I think this makes it much easier to spend more money than you plan to. However, the most interesting part of this article is the number of jobs being created. However, I would be interested to see how the increase of online shopping effects online customer service reps that you may talk to when you are having trouble purchasing something. The main cause of this chasm is the emissions produced from the customer driving to the store. part of the economic and social fabric of their communities. While the online shopping industry has caused some people to lose their jobs, it also has created jobs because when the websites crash, there needs to be people to help bring the website back up. The price which the online shopping sites fix are very low. I am definitely not surprised that having online shopping boosts the economy, because as I said, it is much more convenient for many people. The main reason that I find online shopping so great is because it is so convenient, which you mentioned in your article. Online Shopping and It's affects on the Economy: Many people argue that online shopping is hurting the economy, but from my research I can say that online commerce is boosting the economy during this economic downturn. Additionally, I agree that online shopping will continue to increase based on the positive outcome for costumers. It is too much work to order something and not having it fit so you have you have to send it back then again wait for the right size to be delivered to you when you can just walk out of a store with the item in hand. It is something I like to do when I am bored and it is a fun way to find clothes without doing anything really. Consumers no longer hold the same mentality as before. … Create your own unique website with customizable templates. We have to wonder though will the market ever change after everything goes online? And finally, the trend toward online shopping may enable small manufacturers to flourish pretty much anywhere: given the ability to deal directly with customers, they would no longer need to develop distribution networks or build large inventories. So, there are both pros and cons to online shopping and how it impacts the economy. This was very interesting to read and learn about. The energy used to power a retail outlet also has an impact on the sustainability of physical shopping. It was very interesting to see what statistics there are about something as simple as online shopping. Overall, very intriguing. I do however agree how online shopping is very convenient, because when you don’t feel like going out you can just order what you need online with having the benefit of not needing to waste gas. Although, I never would have thought about it from an economic standpoint. Are you wondering why? Ecommerce offers shoppers lower prices and a social shopping experience, which can be leverage to accelerate growth, even during difficult economic times. While the advancements in technology will most likely continue to eliminate some of the jobs currently available in our society, my hope would be that people will also continue to realize the advantages of services and products provided by physical, attainable people and places. The GDP and E-Commerce Data Year GDP (hundred million Domain Number(Ten thousand) Number of Internet users(Ten thousand) Number of e-Commerce businesses(Ten thousand) Number of online shopping user(Ten thousand) e-Commerce Additionally, 36% of men, compared to 28% of women, reported it affecting how much they are spending on experiences (travel, restaurants, entertainment, etc. Could they find more sustainable, safe packaging? I personally will miss my late night Meijer runs with my mom one day. 80,000 jobs eliminated is a huge deal and can also greatly effect the economy with unemployment rates. Almost three-quarters of e-commerce companies have only three or four employees. Its definitely something interesting to think about but time can only tell. I am a huge online shopper and I didn’t realize how much I did it, until after reading this and realizing I don’t know the last time I went to an actual store. (KEVN) - The pandemic continues to impact small businesses, and with online shopping, some may wonder what this could mean for the local economy. I was aware that a lot of the large department stores are already going business as a result of the increasing popularity of online shopping, but I'd be curious to see how this trend might continue in the future. Black Friday is one of the most important shopping events around the world and this year, it is going to be bigger and better than ever. As you stated in the paper, the e-commerce industry helps the economy because it creates more competition and lower prices. This blog is very interesting in that it shows both the pros and the cons to online shopping, or rather, who it affects and who it does not. The jobs that are less available from department stores, I believe are just from them becoming bankrupt. These companies are not including the cost of manufacturing pollution, trash left over from packaging, and constant air pollution that is harming our public and environmental health. Purchasing products or services over the Internet, online shopping has attained immense popularity in recent mainly because people find it convenient and easy to shop from the comfort of their home or office and also eased from the trouble of moving from shop to shop in search of the good of choice. Online retail sales are set to rise 17% this year to 204 billion dollars (Watershed Publishing, 2010, Paragraph 1). Choosing the right product: Since you are planning to shop online, it would not be possible for you to try on the new blazer or the brand new jeans that you have set your heart on purchasing. Or, will there be something even more efficient and beneficial for the consumers? I personally enjoy shopping by going to the store and finding clothes that way. Something I haven't really noticed though is less people working in retail or department stores. There are many shopping sites where they connect to customers only through online shopping which is unfortunate because sometimes it's nice to actually go into a physical store and many times the store can go unnoticed because there isn't a physical store that people can go into. In order to verify the e-Commerce’s impact on China's economic growth, we collect data set as in table 1. Ecommerce is Good for the Planet and the Economy. Especially with websites like amazon, you can be looking at 10 times more the number of retailers than you would in a physical store. E-commerce and online shopping in India are achieving remarkable and remarkable growth as more and more Internet facilities, high educational standards, lifestyle change, and the country’s economic growth are being used more and more. It sounds almost fantasy, but it makes sense that companies as lucrative as Walmart and Target could be bought out by online companies. The blog really highlights how something so convenient can impact our community which I thought was intriguing. As a result, their economic well being is lower. This post is a very interesting and different one. As the amazon community continues to grow, economic benefits are sure to grow as well. One-third of men, compared to 25% of women, reported the pandemic affecting how much they spend on products. I also found this blog post quite interesting because it talks about something that the majority of people do monthly, sometimes even weekly. When I go to shop at places in the mall, I can definitely see a decrease in employees and I didn't really think much of it but after reading this post I understand the probable reasoning behind that. I always figured that online shopping was on the rise. 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