Wednesday, January 11, 2012

Physical store vs Online store what’s the difference?

I have compiled list of difference between physical store and online store, this decade most of the conventional stores in India will move into an e-store model. Please include if I missed any…


Attribute
Physical store
e-store
Relationship with customers
No or very little relationship
Close relationship
Shopping time
10 to 12 hours
24 hours
Crowd
Heavy, extremely high at seasonal times
No crowd
Initial Setup cost
Very high
low
Maintenance cost
High
Average
Stock
High number of items should be in stock
Very low stock
Running cost
High
Low
Number of stores
Each location requires physical stores
One application
Scope
One store visible to Within a city/district
One application can serve all over world
Growth rate
Very slow, typically takes decades to become established business
Fast. Typically takes few years to become established business
Customer’s Community
No
Yes
Feedback
Little
High
Information update
(Price, new product etc.)
Typically takes week or month or customers next visit
Immediately available to customers
Travel cost
Travel cost involved
No travel cost
Travel time
Travel time involved
No Travel time involved
Fun
More shopping fun
Less shopping fun
Price
Higher price
Lower price
Delivery
No Waiting time in delivery
There is a waiting time for delivery
Number of employees
Needs in thousands/lakhs depends on size of the business
Needs in hundreds
Customer experience
Customers can physically touch the product prior to purchasing
Customers cannot physically touch the product prior to purchasing
Choices
Limited products
Unlimited products available to purchase
Deals
Low number of deals
High
Price comparison
Few shops
Can compare many shops at a time

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