Impact of online shopping
Write a Literature review on Online shopping.
The impact of the internet has been increasing in the daily lives of the human being all over the world. The use of IT has been expanding in all aspects of daily life. The internet has entered into the shopping process of the market. Various e-commerce companies are targeting online customers over the internet. Therefore, online shopping has been capturing the market share at a high seed.
This report discusses about the political and public view on the concept of the inline shopping. The advantages and disadvantages of the online shopping have been discussed in the report. This report outlines about success stories and unsuccessful stories of the ecommerce website in the market.
The online shopping in the UK has been increasing at a rapid speed. The UK has the third largest e-commerce market in the world. The UK government has been focusing in the development of the online market in the country. An estimated, online sales of the product has been 533 billion pounds. The estimated value of online sales in the UK at 60 billion euros in 2016. However, e-commerce has been accounting 19 % share of the total business turnover in the UK (Al-Debei, Akroush and Ashouri 2015). However, in 2015, 80 % of the UK internet users are shopping online. Therefore, the online business has been in reading and capturing the maximum market of the UK (Pappas et al. 2016). The traditional offline shopping has been becoming obsolete from the market.
The political view on the nine shopping has been positive. The UK government has been promoting the online business and ecommerce websites in the market. The benefits if the ecommerce market has been understood the government. There are various policies and laws are implemented in the e-commerce business that have helped in providing a better opportunity for online businesses (Chen, Yan, Fan and Gordon 2015). Most of the political players have been providing opportunities for the online businesses in the market that have been maintaining the use of online marketing schemes in the market. The online market has been developing all over the world as Maximum number if customers are available online.
As per public opinion, online shopping has helped in replacing the boredom of offline shopping. Most of the customers are preferring home delivery of products, replacing the offline shopping by going to shops to shops in the market. Due to this, online market of various companies have been running in profit (Wu et al. 2014). On behalf of the public point of view, the online shopping has been creating an important place in the market. The use of online marketing of products and services has been initiated in the market with various business models. These business models have been helping in maintaining and providing various opportunities to the businesses (Lian and Yen 2014). The digital media environment in the market has been supporting the use of social media as the marketing tool for the inline business organization. These business organization has been targeting the social media platform for promoting their products and services online.
Advantages of online shopping
Online shopping has been providing various benefits to the customers in the market. Some if the benefits have been mentioned below:
Convenience: It is one if the biggest benefits of the online shopping for the customers in the market. Online stores are opened 24 hours in a day. Therefore can order and purchase any type of products during any time in a day. This provided a great convenience to the customers in the market.
Selection: Online shopping provides a lot of varieties of products to the customers. This helps in providing variety of execution methods for the customers in the market. Therefore, the selection of same kind of products increased with variety and color and type of material (Hsu, Chuang and Hsu 2014). Therefore, online shopping is preferred by the customers in the market. The price of each product has been written along with the product that helps in understanding the budget of the customers during purchase.
Information: Online shops used to provide total information about the products and services provided by the company. Product description helps in providing a proper approach to the purchasing behavior of the customers. Quality products help in maintaining the sales of the company over the internet.
Price: The price of products in the online stores are less than that of the offline stress in the market. Online stores do not have to pay rent for any house for store. Therefore, all the hidden charges in the products have been minimized and neglected by the company (Lissitsa and Kol 2016). Therefore, the price of the products and services provided by the online shopping company become less than that of an offline product.
Shipping: Various large ecommerce companies are providing free shipping to the customers, but some of them are charging the minimum price for the transportation charges. The home delivery service of products costs extra charges for the transportation of product from the retailers to the house of customers. However, these charges are minimum that does not affect the budget of the customers. Although, customers are also happy with the home delivery of the products as they does not have to go to anywhere to collect their product from the market.
Along with the advantages of the online shopping, there are some disadvantages of online shopping in the market. Some of the limitations of online shopping have been mentioned below:
Hands-on Inspection: Online stores cannot replace the experience of touching the products and checking the quality. Therefore, this create a big disadvantage of the online shopping. Customers are not able to touch and check the quality of the product (Dai, Forsythe and Kwon 2014).
Disadvantages of online shopping
Wait Time: Waiting for the products to deliver to the customer is the waiting time for the customers. Sometimes due to some complexity, the waiting time for the customers might get increased and delay. This create chaos in among customers. They became worry as their products might not come after one week or more than that till purchasing date (Lian and Yen 2014).
Privacy: During online purchase, customer has to providing various personal details including their address. Therefore, there might be a possibility of misuse of their address. This create problems for the customers in future purchase.
There are various successful and unsuccessful stories of the ecommerce websites. Amazon.com has been the largest online ecommerce company in the world. The company has been rising in the market in a rapid speed. The business model of the company has been very strong and simple that have helped in maintaining a strong approach in the market. The customer base of the company has been very large in the market (Lian and Yen 2014).
Pets.com was launched in in 1998, which focuses on selling pet accessories. However, it survived for 9 months only in the market. After that, the shares of the company get sold in the market as it was running in loss. In 2000, the company officially announced that they were going to sell their assets, icon and content of the company in the market. Therefore, on 9th November 2000, Pets.com was closed completely (Lian and Yen 2014).
Conclusion
It can be concluded that the use of the online shopping has been a great approach by the business organization. There are various benefits of the online shopping in the market that have been discussed in the report. The disadvantages of the online shopping has been explained in the report. The case studies of successful and unsuccessful stories of ecommerce business organization has been provided in the report.
References
Al-Debei, M.M., Akroush, M.N. and Ashouri, M.I., 2015. Consumer attitudes towards online shopping: the effects of trust, perceived benefits, and perceived web quality. Internet Research, 25(5), pp.707-733.
Chen, Y., Yan, X., Fan, W. and Gordon, M., 2015. The joint moderating role of trust propensity and gender on consumers’ online shopping behavior. Computers in Human Behavior, 43, pp.272-283.
Dai, B., Forsythe, S. and Kwon, W.S., 2014. The impact of online shopping experience on risk perceptions and online purchase intentions: Does product category matter?. Journal of Electronic Commerce Research, 15(1), p.13.
Hsu, M.H., Chuang, L.W. and Hsu, C.S., 2014. Understanding online shopping intention: the roles of four types of trust and their antecedents. Internet Research, 24(3), pp.332-352.
Lian, J.W. and Yen, D.C., 2014. Online shopping drivers and barriers for older adults: Age and gender differences. Computers in Human Behavior, 37, pp.133-143.
Lissitsa, S. and Kol, O., 2016. Generation X vs. Generation Y–A decade of online shopping. Journal of Retailing and Consumer Services, 31, pp.304-312.
Pappas, I.O., Kourouthanassis, P.E., Giannakos, M.N. and Chrissikopoulos, V., 2016. Explaining online shopping behavior with fsQCA: The role of cognitive and affective perceptions. Journal of Business Research, 69(2), pp.794-803.
Wu, L.Y., Chen, K.Y., Chen, P.Y. and Cheng, S.L., 2014. Perceived value, transaction cost, and repurchase-intention in online shopping: A relational exchange perspective. Journal of Business Research, 67(1), pp.2768-2776.
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