How the Internet Affects the Development of Retail Industry

Abstract

Over the past decade, the Internet has had an important impact on the retail industry. The purpose of this paper is to study the impact and current situation of Internet on the development of retail industry. This paper mainly uses the method of literature reading and material analysis. It is found that in recent years, with the help of the Internet, e-commerce has attracted a large number of customers with lower prices and richer commodity categories, which has largely encroached on the offline retail market. The new retail model impacts the traditional retail model, making up for the traditional retail industry information asymmetry, subject to spatial constraints and other characteristics. But at the same time, offline real retail industry will not be completely replaced due to its own characteristics. Because online shopping has gradually failed to meet people’s growing demand for personalized, experiential and quality consumption. Therefore, the retail industry needs to make use of the Internet, combine the advantages of online retail and offline retail, carry out precise production and marketing, and provide better services for consumers.