Koreans who shop online are most likely to buy books, cosmetics, clothing/accessories/shoes and groceries via the Internet in the next six months. While connected Chinese also favor books and clothes, 40 percent plan to make an electronic purchase online. Web-savvy Malaysians like online shopping for booking travel, with airline tickets and hotel/tour reservations the top picks. More online Australians intend to purchase event tickets and non-downloadable videos/DVDs/games than any other in the region. And one-fifth of online Indian shoppers plan to buy non-downloadable music. Total online spending as a percentage of total monthly spending varies by country with Chinese and Korean online consumers allocating the most via the web than any other in the region. Online consumers in New Zealand, Australia, Malaysia and Hong Kong allocate the least. North America Half of online Americans favor sites for stores that can only be shopped online and the majority of Canadian web shoppers are split between a preference for online-only sites (31%) and those that have traditional physical stores (19%). The list of products and services that are favored by American and Canadian online shoppers is almost identical. Books, clothing and airline tickets are the items most likely tagged for online purchase in the next six months. One-third of online Canadians say they don’t plan on making an online purchase in the next six months, which is more than the one-fifth of connected Americans
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
Online commerce was introduced to consumers in the mid-1990’s, and in the years since, it has grown exponentially. It started out virtually nonexistent and has become a multi-billion dollar industry. Nearly every retail sector has entered online commerce; clothing, electronics, home, health and grooming items, even food and groceries are starting to gain traction online. Online commerce sites rival traditional brick and mortar stores such as Walmart and Target, as well as other big-box stores. As online retailers such as Amazon continue to expand, many brick and mortar stores have been making their way online, indicative of an increasing movement towards online commerce. With more than 80% of the online population having made an online
Consumers are making purchases daily. There are a number of occasions and reasons prompting people to shop. Special occasions such as birthdays, anniversaries, and holidays all contribute to retail sales. Sustaining one’s daily life through purchase of food, clothing, personal hygiene products and cleaning products also contributes to the economy through commerce. How do most people like to shop? In recent years a new alternative to the traditional brick-and-mortar shopping, online shopping, has increased in popularity. “U.S. e-commerce sales grew from 72 billion U.S. dollars in 2002 to 228 billion U.S. dollars in 2010.” (“Online shopping,” n.d.,
Many people are moving from physical stores to purchasing merchandise and services on the Internet. Today,
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
Social factors: People's lifestyle is changing. In recent years, more and more people prefer to shop online. Mintel (2015) demonstrated that approximately 70% of Americans would shop online regularly, especially in the 20-34 age group. In addition, recently,
According to the LA Times (2014), 3 billion people have access to the internet. Facebook reaches 250 million users and as I demonstrated in Chapter 5, 95 million people are shopping online in the USA alone. The most amazing thing is that these numbers will only get bigger because most of the world still has to get online. These figures only represent 60% of the world population who are using the internet. Still, the experts say that worldwide e-commerce sales are growing by 19% a year and will represent US$1.4 trillion by the end of 2015. In the USA those sales are increasing by 10% every year and this will be the trend as people understand what they save in effort, gas, and how there is more variety online than in the stores. Furthermore, it is true that more than 80% of the online population has used the internet to purchase something, and more than 50% of the online population has shopped online more than once. In every region of the world people are understanding how easy, fast and efficient it is to shop online and they like this convenience and the safety. There is no reason why part of this phenomenal growth should not be yours.
Online shopping has completely altered the way we experience the world around us today. Online shopping has transcended us from the physical world and led up into the virtual one. Not only can one buy something physical online
In conclusion, people habits have changed towards Internet and that’s why more and more customers enjoy buying on the Internet. In this context, it was a big success for Amazon to start with online books and rapidly extends to other electronics items, as well as in the United States and other countries than for China and India which are even bigger markets.
Lazar (2016) highlighted on online shopping as one of the most valuable industries nowadays. About nearly 80% of the entire US population has shopped online; 50% have made more than one purchase. This equated to 198 million US shoppers in 2014 or about 78% of the entire US population according to Business Insider. This can be explained due to oft-mentioned notions that online shopping is convenient and a time-saver to most Americans (Horrigan, 2008).
Internet usage has skyrocketed in the past few decades, along with this increase comes the increase in internet shopping by consumers. This research examines the behaviors, motivations, and attitudes of this new form of consumer entity. Online consumer behavior has been studied for over 20 years and will undoubtedly be the source of many future researches as internet consumerism expands. This paper will examine the following research questions: (1) How do factors previously researched affect the online purchasing behavior of consumers and (2) what are the significant consumer behaviors both
The traditional retail market has been transformed by technological advances. The internet today has allowed consumers to purchase various products from home ranging from apparel to groceries. The online shopping market has grown significantly within the past decade, leading to many online e-commerce startups such as Amazon, eBay, and mobile start-ups such as Instacart. While e-commerce provides convenience for shopping, it has created major disruption to the traditional shopping industries. Traditional retailers have since faced bankruptcy due to their inability to compete with such start-ups. The traditional American toy store, Toys R Us, announced its state of bankruptcy just last month due to a significant decline in sales. More and more consumers are turning to online giants such as Amazon to purchase daily items as a result of convenience. According to the Washington Post, Toys R Us is just one of more than 300 retailers to file for bankruptcy this year, as Americans ditch the shopping mall in favor of their laptops, smartphones, and tablets (Bhattarai, 2017). Shopping which used to require walking or a vehicle trip to stores is no longer required for consumers with online shopping. Online shopping has appealed to consumers worldwide by encompassing the business aspect of service convenience which constitute saving time and/or effort (Jiang, Yang, and Jun, 2012). For consumers whom have busy lives and those whom are physically disabled, online shopping is a positive
Buying is NOT Shopping. Buying whether at the checkout counter of a physical store or within a site / app is just purchasing a product. Shopping, on the other hand entails the full spectrum, an experience which encompasses discovery, curation, price comparison, price negotiation and after sales service. Shopping in India is poised to evolve to be multi-channel, anytime/anywhere and personalized for each user. Companies should aim to not only keep customers happy but to stay relevant. To achieve this, both brick-and-mortar as well as online brands need to evolve at a pace faster than their customers’
Online shopping has largely influenced consumers for over 30 years. However during its inception, many consumers still preferred to travel to a physical store location to purchase products as they were unsure about this new method of shopping but as time passed, more people jumped on the bandwagon and soon it became mainstream. The question now though, is that are the shopping fields for online and offline stores uneven? Which is more popular and why is it like that? This essay will argue that in today’s technologically evolved world,
In the perspective of developed markets, the percentage of online sales account for between 5-15% of total retail sales. The major developed markets for e-commerce are South Korea, United States, France, Germany and the UK. These markets all have a few things in common including: