Is Digital Media Killing Traditional Retail?

Is Digital Media Killing Traditional Retail?

The world has become a global village thanks to the internet. You can, without any problems, buy anything you need in the comfort of your home. There is no need or push to go to a local shop to buy the same item. With the inception of the internet came digital media, a safer and faster way to get things done.

Digital media is information sharing through a digital screen or device. The world is experiencing technological advancements every day, making life better. The days when people had to go to their local shops to buy an item are long gone.

You can buy the same products with a laptop, Android phone, or any digital device. Getting it delivered to you is a matter of minutes or days. With these developments, is there a risk of traditional retail dying a slow death? All signs point toward this happening, though it may take time. 

Brick and mortar stores still command a huge number of shoppers. However, the speed at which online shopping is picking up poses a threat to traditional retail. Perhaps these reasons may explain why digital media may eventually kill traditional retail as we know it.

  1. Easy Information Sharing and Modification

Digital media has made it possible for marketers to keep changing their messages. They can pull down their ads with mistakes or tailor them to fit customer needs. E-commerce marketing agencies like Evestar take charge of such roles.

A traditional retail shop does not have the luxury of making any changes as it may desire. Digital media permits sharing, access, and modification of information. The result is greater control over marketing efforts by companies.

  1. Facilitation of Social Interaction

Retail shops may also support this. However, people must be physically present for it to be effective. Digital media only needs good devices and a stable internet connection to pull it off. Distance is not an issue between people. Friendships develop beyond borders and different time zones.

When it comes to selling or buying a product, marketers and buyers rely on those relationships. It is easy to send a package from the supplier to the buyer without any hitches. Traditional retail may have a lot of limitations. There are challenges with creating healthy relations beyond borders and time zones. It may prove an uphill task to deliver a package to the other party as well.

  1. Enhances Brand Awareness

A traditional retailer may find it challenging to advertise what they offer. They lack the media coverage to reach many people beyond their localities. When they manage to do that, the cost is steep and ends up affecting their profit margins. They rely on people visiting the retail stores, or they may print ads so that potential clients can see the product or service.

The ease of using digital media has changed a lot of things, on the other hand. It has made it easier for companies to manage their daily responsibilities. They can also market their products and services with ease, reaching a wider audience.

When a new product is available, the brand can draft a unique ad and place it on various digital platforms. The ad reaches many people in a short time, triggering a possible purchase in return. Such firms experience sales/revenue increases and reduced marketing costs.

  1. Convenient and Cost-effective

It is convenient for people to buy by clicking a button instead of going to a brick-and-mortar store. The process of journeying to the shop is time-consuming and still a struggle to locate what you need. Sometimes, work schedules do not give you room to go looking for something in the stores.

With digital media, you may only visit a company’s website, select what you need, pay, and wait for its delivery. The process does not require you to move around shopping. You do everything from where you are and as comfortably as possible.

Online items tend to be less expensive, mainly because sellers save on other costs. They may not incur rent on premises, or they don’t have staff to pay salaries to. Consumers enjoy those saving benefits passed on to them by the seller. In essence, you save as a consumer as well.

Since retail shops still have to pay these overhead costs, they don’t have the luxury of lowering product prices. You have to buy their products at a slightly higher price than when you shop online.

  1. Understanding and Tracking the Target Market

Have you ever found an ad about a product you purchased before the next day? If so, it is because digital media allows tracking of consumer behavior. There is a lot of information you leave behind, whether knowingly or not.

Digital marketers use the information to tailor products to your needs. They can also address your pain points with ease. In fact, there is no need to call you to ask questions; your trail offers a lot for them to work with.

Traditional retail shops don’t have this luxury. They have to put in more effort to know you and provide what you need. Sometimes it is hard for them to provide the products and services needed. The suppliers may not understand what clients need and how they need it produced.

  1. Eliminates Physical Store Limitations

Retail shops limit sellers to customers within their locality. Digital media broadens that coverage. When you run a physical store, you have limited operating hours. Online stores can run for 24 hours every day.

Digital media increases the possibility of selling more and allows customers to shop whenever they want. Online retailers are thus competitive against traditional retailers.

Final Remarks

When all is said and done, digital media still has a long way to go to catch up with traditional retail. It is, however, moving at a faster speed, and in no time, it may be at par. What is not clear, though, is if it can entirely kill traditional retail.

A lot has to happen for digital media to take over. Some places around the world lack the important infrastructure that supports digital media. In those places, the best services come through traditional retail.

Answering the question: “Is digital media killing traditional retail?” It is not, though it may do it in the future. Regardless of what happens, traditional retail may never be shut out totally. It may face stiff competition from digital media, but the competition may not be enough to kill it.