Introduction to traditional and modern retail

Traditional retail is also known as numerous small family owned businesses. They are basically an unorganized form of market. Through centuries people have referred to local kirana stores over any other form of shopping before digitalization and the advent of new technology. Even though it is preferred today as well, but people are going contact free shopping. Which has given rise to what we call modern retail. The word itself suggests the basic idea behind it. People are adapting to modern ways of living. For example 24×7, if you see it is the modern form of retail as it is available to the customers whenever they are in need of it.
Let’s talk about everything in a little depth.

Advantages of traditional retailing in the growing world of digitalization

If we talk about the advantages of traditional retail the first and the foremost benefit is of the loan also known as “Udhaar” system.
People usually prefer buying items from a kirana store because you can give back the money later on as you are well known to the store manager. Since it is run by the local family owned person so you have that comfort zone too. We start to make a bond with that person by frequently buying it from there. In India you get to see that alot, the bond between the consumer and the store person develops fast.

But let’s say if you talk in terms of a shopping experience you see that you can touch and see if the product is good or not for example if you talk about the clothes you shop online you cannot see if the product quality is good or not good but whereas in offline shopping from a store you can then and there choose another one.
Also another thing about offline shopping is that you can get discounts or let me put it another way you can bargain or ask for discounts, whereas in online shopping people usually shop when there is a sale going on.
One of the best examples of offline shopping is Sarojini market in Delhi.

Advantages of modern retailing

Now if we talk about modern retail the first thing that comes up is also important in traditional retail is customer experience. As technology is expanding over the years so will the modern trends and new ways of shopping. Online payment is becoming so convenient and common among everyone that is why people are preferring online shopping too. Since the coming of pandemic people are anyways preferring contactless shopping and are avoiding long queues. So in this situation online shopping is a go to. It is the safest option to go with. Especially when it comes to grocery shopping people find this is as the easiest route.When feeling lethargic the go to apps such as amazon, flipkart, bigbasket, instamart, zepto are the best option.

Has modern retail taken over traditional ?

No, not really. People have started preferring modern ways of life but that doesn’t mean that we let go of our old habits. There are certain things we would still prefer buying from a local store nearby. Traditional retail would never grow old it will still have its place. Every where there are kirana store nowadays. So if we need something immediately you will definitely shop from there rather than finding an actual 24×7 store. Milk for instance if you see people buy it from a local kirana store mostly which is near to their place. There is a huge competition among markets out there and since the digitalization and modernisation it has grown more. Traditional markets can always compete with the new technologies.