Question

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NEED ANSWER ASAP / ANSWER NEVER USED BEFORE

Business has moved very quickly from bricks and mortar to clicks and bricks. What is the next innovation for this environment? Can the Internet of things (IOT) bring about a massive change, or will this idea be a stepping stone to something bigger and better?

ANSWER THROUGHLY 1-2 pages

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NEEDS TO BE AN ORIGINAL SOURCE ANSWER NEVER USED BEFORE

*****NEEDS TO BE A ORIGINAL SOURCE****

Answer 1

Earlier times, whenever any item was required, we would go to the nearmost grocery store or vegetable market, or any other market to purchase the product. Usually the quantity would be less and extended to two-three products only. The shopkeeper would sell the product on MRP. The frequency of the visit to the store would range from daily to alternate days. Thus, though the number of items purchased would be less per visit, the number of visits to the stores would be high. Also, not all items would be found in one store. Groceries would be in grocery store, stationary items in stationary store, vegetables in vegetable market, and so on.

Later, came an era of going shopping to a mall or a supermarket on a weekly or bi-weekly basis in order to obtain household goods. The supermarkets had all the required options - variety of products, variety of brands, availability of groceries, vegetables, household items, daily necessities, apparels, etc. all in one place. This facilitated families to spend time with each other and collectively shop for the necessities. The supermarkets offered attractive discounts and offers to attract customers. Also, due to discounts, customers tend to save money and thus began preferring supermarket - the bricks and mortar stores to the near-most stores.

However, this too had it's own disadvantages. The supermarkets attracted customers to make huge purchases. This resulted in customers having to carry heavy loads from stores/malls to cars or homes. Also, customers began purchasing items which they didn't even need. This meant they started spending their money on unnecessary items. Therefore financial strain increased. In addition to this, the store timings are fixed, and owing to the increasing number of working professionals, the customers were not able to make purchases during the weekdays. They had to storm the malls during weekends and face long waiting queues and heavy crowded stores. Thus shopping became an extensively tiresome process.

These all factors gave rise to the recently developed online retail stores such as Amazon.com, Flipkart.com, and many more. People can order required items online. There is option available to pay online via debit or credit card or cash on delivery. Secondly, the deliveries are scheduled to suit our availability. One can place order at any time of day or night. Also, customers don't need to physically carry the items home, they are packed and delivered home, often free of charge. In addition to this online retailers provide more lucrative discounts and offers owing to the benefits of the supply chain management. Internet has been most instrumental for this change. Thus, increasing number of customers are preferring to purchase goods from online retailers in comparison to brick and motar shops which are becoming less popular day-by-day.