University Retail Store Analysis: Future of Retail Stores

This report analyzes the evolving landscape of retail stores, highlighting the shift towards online operations and the increasing influence of digital marketing and smartphones. It discusses the benefits of online stores, such as competitive pricing, social interaction, and global reach, while also addressing the challenge of product transportation. The report emphasizes the importance of retailers adapting to technological advancements to ensure customer accessibility and convenience. It recommends that retail stores prioritize their online presence to facilitate easy product access, viewing, and price comparison. The report concludes by emphasizing the role of technology in shaping the future of retail, where online purchasing and distribution will become increasingly prevalent, as supported by the references provided.

The Future of Retail Store
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A retail store is a small business store which can handle a small volume of goods. This kind
of store is rapidly growing everywhere. Since the retail stores are situated in most places,
they are known to attract many customers and could be considered the backbone of the
business economy (Loudenback & Kelley, 2013). The retail store usually deals with purchase
and distribution of products to the customers. Business analysts believe that internet options
will enable retail businesses to reach many customers. This is possible with online operations
where customers can access the stores online and do their purchases in the same manner. The
future of retail stores is therefore seen to be inclining towards online operations (Jain & Jain,
2012). It is estimated that in few years to come, online selling and buying will become a
normal activity that would be practiced by many people. The operation of an online store is
simple, safe, safe and affordable because one does not need a complicated physical store that
would be visited by the customers. However, the main challenge is transporting the product
to the physical location of the customer.
Benefits of operating an online store
 It is believed that this kind of digitizing business provides competitive and
convenience pricing of goods.
 Online shopping also provides a chance to interact socially with other sellers and
buyers online. In this way, many people come together through a platform that brings
a huge number of people together. Although the capacity of retail shops is minimal,
online shopping would publish their existence to the whole world (Jenster & Hover,
2014).
 It also provides the opportunity to conduct online marketing which is somehow less
expensive as compared to the other form of marketing that requires the physical

appearance of marketers. It is considered a less expensive form of marketing that only
requires one to engage the customers online.
A study by researchers indicates that the future of retail shops is rapidly changing because of
the existence of smart phones in the market. People can easily order for goods at their
convenience by a click of a button, similarly, one can view varieties of products available in
the shops away from the physical location of that shop. Therefore, the availability of devices
like smartphones and computers has made it easy to carry out marketing of products
(Hopkins, 2013).
Recommendations
 It is important to advise the retailers that having their businesses done online is much
better and effective than physical visits to the shops by the customers. In future,
production, purchase, and distribution of products would be done online.
 The retail stores should, however, put their online business in order to ensure that
their customers can access easily their products, view them, and do a comparison of
prices before they decide whether to purchase or not.
The future of businesses is expected to be well orchestrated by the advances in technology.
This is seen in the manner many people are currently buying from online stores around the
world. These stores can be accessed through applications that use the internet, but they have
to deliver the products in a specified period.

References
Hopkins, D. (2013). New emphases in online business stores. Entrepreneurship studies,
6(6), 410-419. http://dx.doi.org/10.1016/0019-8501(77)90003-7
Jain, S., & Jain, S. (2012). Retail enterprises. South Melbourne, Victoria:
Cengage Learning Australia.
Jenster, P., & Hover, D. (2014). How to focus idea on online business to serve strategy.
Planning Review, 20(4), 32-36. http://dx.doi.org/10.1108/eb054365
Loudenback, L., & Kelley, E. (2013). Online Business idea development.
Journal Of Entrepreneurship, 36(4), 113. http://dx.doi.org/10.2307/1250442