Examining the Impact of E-Commerce on the Retail Industry: A Comparative Study of Shopping Malls and Independent Retail Stores

Abstract

The emergence of e-commerce has significantly impacted the retail sector. The popularity of online shopping has led to a decrease in foot traffic at conventional brick-and-mortar establishments, such as shopping malls and independent retail stores. Decreased foot traffic brought on by the expansion of e-commerce has reduced sales for many mall-based stores. This has led to the closure or partial vacancy of some malls, which has diminished investor interest and caused a reduction in property values. To draw customers, some malls have modified the designs by adding more immersive features like dining options and entertainment centers. Others have adopted e-commerce themselves, developing online markets that provide a greater selection of goods and services. Customers can now purchase goods from big merchants more easily and frequently at lower prices than small enterprises can. Independent retailers are under pressure because of this to change and stand out from more established rivals. Some people have started e-commerce businesses to access markets outside of the immediate area. Others have concentrated on offering distinctive products and individualized customer service that are unavailable at bigger businesses. The retail industry has been significantly impacted by e-commerce overall. To stay relevant in a market that is changing quickly, it has required established merchants to innovate and adapt. Some merchants have found it difficult to keep up with the changes, while others have succeeded by embracing e-commerce and incorporating it into their business plans. The study had considered sample of 211 respondents (owners of shopping malls and independent retail store) to compare and examine the impact of e-commerce on the retail industry and concludes that there is a significant impact of e-commerce on the retail industry.