The economy primarily depends on consumerism, which has been undergoing drastic changes in the past few years. Virtual shops are mushrooming while physical ones are evaporating. This trend both transforms the landscape of commerce for better and for worse.
The first noticeable difference is the number of new businesses. Opponents of e-commerce would argue that this new model promotes shops to be more competitive. While this may be true to some extent, it also means that there are more chances for entrepreneurs of small and mid-sized businesses to thrive. This is feasible as they can save money on rent and invest in product research and development as well as marketing campaigns, which leads to brand awareness and eventually robust sales. It should also be noted that the internet opens doors to a larger audience while conventional shops are restricted to the locals.
This brings me to my second point. Defenders of online shopping often argue that they provide more choices of products for consumers to choose from, which is undoubtedly true. However, this does not guarantee the quality of the goods. Fast fashion is the prime example of these platforms. It is fueled by dropshipping, where a plethora of online stores carry the same product, and is directly linked to overconsumption. Consequently, shoppers, who can effortlessly make a purchase of the latest fad, often dispose of their barely touched possessions, contributing to pollution.
All in all, the economy has experienced a paradigm shift due to internet access with an ever-increasing number of businesses and an unfortunate plummet in the condition of their merchandise. I believe that if individuals as consumers pressured the industries to manufacture better quality products, there would be benefits of online shopping without its disadvantages.