Yes, but online retailers that stay within the law are always going to be able to be more competitive than bricks and mortar shops, and still retain a higher margin. Local government have "robbed" shopkeeper's with high rates for years, and the staff to turnover ratio is much less for online sellers. In the rural towns close to where I live, the streets are full of empty shops.
£210 for a pair of boots from a local shop. £97 with free returns from an online retailer. Which would you choose ?
I would buy on-line with that price differential. With many items, the margins aren’t so great.
Recently I bought a new pair of running shoes. In the shop I received advice, tried the shoes on and ran for 15 minutes on a treadmill. They cost me £115, but I could have purchased them for £95 online.
I think there will always be some need for the high street shop for reasons such as the one above, but that kind of shopping will decline and possibly disappear. Maybe the big manufacturers need to subsidise certain reatailers, it could be in their interests to use them as showrooms for their goods.
I’ve also bought things from Banggood, Ali Express and the like, simply because much of the stuff isn’t available elsewhere.