According to MarketLine, the world online retail market expanded by almost 18% in 2010 and is predicted to reach close to $435 billion in sales. The market is expected to reach a 90% growth by 2015 and exceed $827 billion in sales. Listed in an article “Ecommerce Growth Statistics”, the average amount spent by each consumer is expected to rise from $1,207 per year to $1,738 per person by 2016. That is a significant increase. That shows that people prefer to shop online than going to the actual store in today’s society. Shoppers will spend on an average of $327 billion online shopping in 2016, which is about 45% from $226 billion in 2012. It is very evident that consumers will drive ecommerce into the future; especially e-retail. In just a few years, purchases online will be more profitable than ever, with others products and services available to purchase such as mobile and social allowing consumers to shop to their convenience. For retailers and
The definition of E-Commerce or E-Tailing is replacing the traditional relationship of buying and selling in person or the phone with the use of the Internet, Smart Phones and networking. The more people that use the Internet regularly, the more Internet commerce increases. This causes a continual loop of improvements and innovations of which businesses must be aware. Most economists see e-commerce as a market segment that leads to intensive price competition and consumers armed with greater knowledge. E-commerce has changed business models globally, and allows customers to engage in the process of shopping either online or to a destination. Brick and mortar stores do have a conundrum do you want traffic into the store, or do you want the sale based on ease of shopping and/or convenience? (Eisingerich).
The Internet has changed the way we do virtually everything, including the way we shop. However, shopping is not the only thing that has changed. In the last decade we have changed the way, we apply for loans, study, and even plan a vacation. Doing any of these things would have been impossible a few decades ago. At present, online banking, paying bills, ordering new services, and shopping online have become part of our daily lives. Traditional brick-and-mortar stores have been around much longer than online stores, but we cannot deny that online shopping is giving the traditional stores competition. Many consumers still choose to shop at regular brick-and-mortar stores because they like to see and
Abstract: Rapid transformation in communication has been witnessed in this century. One of the radical changes is internet. The facility of internet has gained world-wide attention. Everyone is trying to make maximum use of this. Marketers are using internet to do the business all over the world under the guise of online shopping. Online shopping has changed the business scenario for the marketers as well as consumers. Through internet marketers reach has increased to the far flung areas as well as consumers can buy a product from the overseas market at the click of a button. Internet helps the marketers in reducing their marketing costs resulting in reduced product cost implying benefit to the consumers. Consumers now can easily get information about any product features, price, can easily find out the availability of substitute goods and can compare their prices. Though it has many benefits but still the hindrances are there in the mind set of consumers regarding the security, personal touch and warmth while buying from local retailers. This paper focuses on factors like convenience, time saving, website design/ features and security and privacy aspects of online shopping. Consumers’ attitudes towards these four factors influence the consumers overall attitude towards online shopping.
Shopping has become easier to do now that almost everything is electronic. When it’s time to go back to school shopping, all you have to do is hop on the computer and find what you need, and have it delivered to your home. This makes it easier for parents with small children or even parents who live in Weatherford away from major shopping centers. Brick and mortar shopping took place in a storefront only; so, if you were looking for something specific and they didn’t have it, you would have to order it online and ship it to the store anyway. Now that stores have decided to utilize the internet people can do the ordering from the comfort of their own homes. My hypothesis is that online shopping will make brick and mortar shopping obsolete. While there are benefits to shopping online, there are also many downsides which will be discussed later on.
In this assignments I will discuss internet customer expectation and how much they differ from high street customers, the potential impact of ecommerce applications and planning and managing an ecommerce strategy.
Online shopping is slowly but surely dismantling the way Americans have shopped for decades. Ease of use, lack of annoying salesmen and a lower price point are all reasons consumers are shifting from the other mediums of shopping. Online shopping, over wise known as E-Commerce is when shoppers search the internet for the best prices or stores that offer the best online shopping experience and have the items they want shipped directly to their front doors. Some strengths and weaknesses include:
Since there is an amassing number and variety of business that exploit the opportunities presented by e-commerce, consumer attitude should be taken into account. The e-commerce market has grown in several courses, from the emergence of search engines and Internet-based business portals, it flourished into cater two different directions. Business to Customer (B2C) and Business to Business (B2B) e-commerce segments have emerged (Mahadevan, 2000 as cited in Han Wu, 2010). Organizations that began to operate in the Internet market platforms became interrelated similarly and were able to created valuable and unique propositions to drive the market forward.
The electronic shopping industry is developing with great interest due to technological advances as business develop new ways to attract and retain consumers on their platforms
Increasing number of online shoppers causes worries to the other competitors that do not provide online service. Online shopping appears to be more attractive as they provide cheaper goods and almost the same quality as those who own the shops. Marketers who do not
So in this paper, we will discuss online retail and e-commerce as a whole. We will look at it’s history and current impact. Then we will make some
This research project was carried out to identify the reason for popularity of online shopping, to describe why eBay and Amazon became successful without having a High Street store, to compare eBay and Amazon in terms of revenues and customer’s opinions and to develop ideas on how they could improve their performance in future.
Of course consumers’ concern toward e-shopping is not only about time and cost. Some psychological aspects, such as information uncertainty and transaction security, have been playing an important role in dominating consumers’ e-shopping behavior, and have been even more widely discussed in the literature. However, ecommerce continues to advance, in speed and security in particular, it is generally believed that online information will be to a great extent improving both in quantity and quality in the near future. By that time, consumers’ negative perceptions towards e-shopping, such as information uncertainty and transaction security, may fade away. If this is going to be true, then consumers’ psychological concern over e-shopping may gradually be disappearing in the future.