Are we becoming a Buyers’ Market ?

Thanks to Corona. People had lost access to real markets and had to depend upon contact-less virtual market for their needs, even durables and luxury items. Amazon, Flipkart and several such platforms have attracted customers all over the world.

Now Corona has receded. But the craze of customers to buy online is increasing day in and day out. Real markets are facing tough competition from these new outfits, hitherto not patronised by customers who preferred to inspect the items physically before buying.

In the initial stages, customers were worried. What if the article is not the same they wanted ? does not suite them ? Inferior in quality ? Just does not fit them? myriads of ifs and buts. The on-line-sellers did smell these concerns and went out of their way to remove all these reservations of customers by very generous policy of returns and transparent honesty in their dealings with customers.

Let me give a few examples. I read at night in bed. My son bought from Amazon a bed-side lamp which would focus directly on page I read. After a few days the bulbs were loose from the holder. My son returned it. Only condition of accepting the return is to preserve the original package. I kept both the package and the lamp for six months. Amazon promptly retuned the money. But did not send anyone to take back the lamp. I was about to throw it away. Then I consulted my electrician who repaired it in no time. I am still using it.

Another example. I wanted to buy sports shoes. I just told my granddaughter to come with me to select. She said why go to shop ? We will buy online. I was dumbfounded. How can one buy shoes online, without seeing them, wearing them and waking a little to ensure that they fit well and are comfortable? She asked me my number and showed me several brands, types, the photos, videos I was amazed at the unlimited options which you can never have in a real shop. She ordered the shoes of my number. Lo! They fitted well, are comfortable and I use them for my daily walk.

One can go on and on. But it’s not necessary. On-Line-platforms have made a niche in the psyche of customers. Seniors prefer this form of buying as it relieves them from the stress of buying in the physical market without limiting their choice-range.

Impact of this development on the physical markets is unimaginable.

Earlier, when you returned something, you bought, the dealer would ask for the bill. If you go as the shop has just opened, he won’t like, If you have opened the package, he won’t take back. Now their attitude has undergone sea-change.

Let me give a few instances.

Sometime back, my daughter-in-law bought a costly saree for my wife. My wife opened the saree and found that it was damaged at one place. My daughter-in-law wanted to return the saree but was worried that the dealer (a very reputed shop) may refuse to take it back. So, she requested me to accompany her. I agreed on two conditions (1) that we go in the evening when there is heavy rush and (2) that I will seat in a corner and take over the moment he refuses to take back and that she will not interfere. As soon as she returned the saree, he did not even open it to check. Just said : “બહેન બીજી સાડી લઇ લો” I was amazed at the total change of attitude in one of the oldest and most popular shops in Baroda.

Take another instance. I bought a magnifying glass from a big shop, used it for about fifteen days and went to return it because it did not suit me. He just took it back and showed me some other varieties and helped me select another with pleasure.

I was convinced that now customer is the king. Sellers’ Market has now metamorphosed into a Buyers’ Market. We must buy online.

But wait. I went to buy Apple Watch in a local shop. The salesman showed me all models, fully explained all technical details of each model, replied to all my queries about each model, advised me which one should I buy and why, explained how to operate the watch and utilise myriads of services and optional usages offered by the watch.

Could I have bought it online. Certainly not. Unless I understand and appreciate the technical niceties of the watch by personal interaction with the expert salesman, I cannot take a decision. It is as simple as that.

In the fast-changing technological environment we must be aware of the limitations of digital market.

I have other apprehensions also. Once the digital markets are established, hackers may find it easy to have a platform to cheat the vulnerable customers, No, in fact, it has already started. Let me give an example. I wanted to buy adhesive hooks. I searched the digital platform Amazon. I was shown number of varieties with photos, videos, uses and what not ? I succumbed to the aggressive marketing, ignoring a small note in small fonts that photos may not exactly show the physical product. Hooks were bogus. I had to throw them away, because I did not preserve the package and had to cut the package to take out the so-called-hooks. In Gujarati, there is a proverb : “ચોરનારની ચાર ને જોનારની બે”

My only advice is :”Do not lower your guard”