December 17, 2010
Seems the way we are shopping is starting to change. No longer are shoppers only using brick and mortar stores for their shopping needs. Consumers are now able to access prices on mobile devices such as smartphones, this allows them the ability to comparison shop. Stores are no longer able to just bring in a consumer with the hopes of finding the customer leaving with more than they planned on taking home in the first place. The economic down fall is this is making the market once mildly competitive now highly competitive. Consumers are able to go to a store start up an app such as The Find and comparison shop with other retailers that have the same product almost instantly. What does this spell for the small stores well there is no longer going to be as many small Ma and Pa stores unless they can separate themselves from the others. There are things such as warranties and personally service which can still draw a loyal customer but will it be enough. When those who used the apps available were surveyed, most stated they were used for big ticket items. Will this mean that there will be less employees at the Best Buy when you visit to buy a Blu-ray who knows but it is something to consider. The market is becoming very hard to enter knowing that the prices that are low are from big suppliers such as Amazon who can allow for competitive pricing. Will we be able to see a lowering of the use of apps to shop with; no as technology advances so does how we manage our finances. Penny saved is a penny earned and this will allow those who do comparison shop to feel less guilty, though in the long run they might be aiding in the loss of some employees lively-hood their job.