Is the rise of online shopping driving most small and medium business stores out of business?

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Ecommerce has transformed the purchasing behaviour of the people. Consumers can easily look at wide variety of products at their convenience, compare the features and prices and buy them at any time. With rise of online shopping, most small and medium business stores are facing survival challenges. With rise in operational costs, it is often difficult for many physical stores to survive even for a year. I have personally seen many outlets closed in malls. For other physical stores, I have not been able to figure how they are able to survive. One guess is probably they too would have become part of ecommerce ecosystem and getting some sales using the hybrid model. Unless these stores are having a niche market and having a solid and good personalized customer service and unique products, I do not see how these stores can survive. So, do you feel with rise of online shopping driving most small and medium business stores out of business?