Online and Offline Shopping A Comparative Study Assignment

Assignment Task

Description

The invention of internet has revolutionized the society we live in. People from across the world are connected through the click of buttons. Online stores are more accessible and tend to gain more followers (Grewal et al., 2011). The offline retail market is slowly losing its impact as more people are embracing the changing technology. It is essential to be vigilant about the offline market and how it can be improved. The offline and online market should be harmoniously integrated to ensure balance and growth of the country’s economy.

Embracing product variety is one of the ways to help improve offline retail market. Product variety involves having an array of products or services to offer. This gives room to a myriad of clients that may seek services and products (Shen et al., 2016). For example, an offline store should sell an array of products to give a large choosing option for the consumers. This will place an offline store at a competitive position with the rising online stores. Therefore, product variety will help increase sales in offline through increasing consumer choice. Providing discounts on products is another way to gain competitive position for the offline markets. Many people are shifting to online markets because of the convenience that it offers. However, as the online market surges, the competition increases and so does the prices (Chiu et al., 2021). The discount offers in the retail outlet often help to increase the foot fall. Thus, the present study will explore the impact of product variety and discount offer on the sales performance of offline outlet in retail industry in India.

Research methodology

In the present study firstly in depth literature review will be conducted to get knowledge about how to measure the impact of product variety and discounts on the sales figures of the retail outlet. Later on the survey will be conducted to know the responses of customer about the offline strategy implement to attract them and improve footfall. Data will be collected and organized systematically to help understand the effectiveness of the project proposal.

Motivation

Improving the offline market through product variety and discount is the motivation of this project. The online purchases are increasing rapidly in tier 1 city in India, however, the situation of the tier 2 & 3 cities are quite different. There still scope to thrive the offline market and people from these cities enjoy shopping as an experience. This project aimed at improving the offline market through embracing product variety and discount on products and services. It seeks to achieve a balanced integration between online and offline market.

Implication

Improving the offline market will help improve the general economy. Online and offline markets play a significant role in the economy of India (Ganesha et al., 2020). The growth and progress of the country on these markets. However, the offline market is slowly declining, which can be detrimental to the economy. This project seeks to identify ways in which the offline market can improve its sales. Product variety will increase the consumer pool, necessary for economic growth. Walk-in clients to stalls will have a large choosing option for products and services. Providing discounts on products and services will increase the competition gradient and improve the offline market sales. This project aims to increase the sales of offline markets through product variety and discounts.

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