The World Goes Online
When Michael Aldrich invented online shopping in 1979, little did he know that the revolution he started would spread like a wildfire in just about two decades! When Einstein said that, “I fear the day that technology will surpass our human interaction, the world will have a generation of idiots”, little did he realize that the same technology will prove to be a boon for so many generations to come.
Today we are surrounded by the world of digitalization. Whether globalization is the root cause of all the technological advent or vice versa, is still a question worth pondering! While the competitive environs make it imperative for an individual to remain up-to-date about the latest trends, the fact that almost everything today is available at a click may it be groceries, toiletries, apparels, accessories, books, software or gadgets and so on and so forth can at times be very intimidating and unnerving.
While the Telegraph printed recently that, “Britain is the biggest online shopping nation in the developed world, with almost two-thirds of adults using the internet to buy goods or services” the Organization for Economic Co-operation and Development (OECD) showed that almost six out of ten British adults use the online shopping mode to buy products like food, clothing, music and book holidays. The revenue generated has been quoted to a whopping £68.2 billion on the internet last year, thus making it the highest valued and most convenient way in the modern world.
Gender-wise the female population seems to be more drawn towards this kind of shopping merely because of the kind of variety they can browse through. The men may want to ensure the best quality and price and hence would like to prefer e-shopping as their option. Most of the gadget shopping is preferred online because of the apt product specification and software related information. For hunting for things in stores one has to put all the energy into looking for the right thing, from shop to shop, counter to counter, picking and trying the same, standing in queues for payments and then carry whole loads of boxes and packs back home. Hence when the same things become available on a click at the doorstep, with almost fraction of energy spent, why wouldn’t human nature give preference to such luxury?
Apart from the handiness factor, the other factors that attract consumers to this kind of shopping are –
1) The reviews and ratings given by other users;
2) The trend wise bifurcation of goods on various websites;
3) The cash on delivery that majority of websites choose;
4) The shopping cart systems, where a person can easily keep adding products to the cart and pay at one go; and;
5) The various online deals offered to consumers in the form of coupons and voucher codes.
While e-commerce has brought in convenience and ease in the lives of people, the online websites have to ensure that they hold their competitive edge by giving their client base an end to end shopping experience. They have to hold on their brands as most of the online retailers have a multi-brand affiliation and they have to hold on their customer base by ensuring easy access to brands, faster home delivery options and instant payment facilities.
With all its advantages, this kind of shopping comes with its set of adversities as well. There is a huge security concern with the database systems no matter how highly encrypted they are. Hence the systems have to be highly secured and users have to ensure that they do not fall prey to hacking methods like phishing, skimming etc. The price disclosure and delivery can also be a major concern if the consumers do not review the site before placing their orders and sharing payment details.
Although there are a few disadvantages as quoted above, when one compares both the good and bad sides of this mode of buying, one clearly sees that the good overpowers the bad with a relatively higher margin. Statistically proven is the fact that the top retailers like ASOS.com are currently making business about double the profit margins than their physical counterparts. E-biz has undoubtedly changed the way most of us think and shop.
Enjoy click shopping!