Twenty-five years ago, the internet has played a leading role in people’s lives and countries’ economies. The number of people who use the internet has increased dramatically over time. In addition, they use it in every parts in their daily life. In the past, when people think about the internet, they often think about information. These days, more people think about shopping. Online shopping, which lets customers buy products from a seller through the internet by using web sites, which is one type of electronic commerce. Nowadays, online shopping has become widespread for people and retailers. Retailers have realized that they should move with the times. Therefore, retailers have changed to keep up with this development. Also, they know that E-commerce will push local economies into a booming future. E-commerce gives local businesses new potential for growth unlike traditional retail which does not have the …show more content…
Online shopping will be more popular than traditional shopping which means a growing economy due to the increasing of E-commerce and online sales. Elaine Giles says that people are realizing that the number of internet sites for shopping will increase (Daily Telegraph Reporter 2009). According to Forrester Research, online sales will double from $16.9 billion in 2009 to 33.3 billion in 2015. Online selling is rising by 10% yearly. The big retailers, who want to change overseas GST, have developed their own online sales strategies (Apostolou 2011, p.32). They know that economies will be positively affected by online shopping. Deloitte Touche Tohmatsu partner assurance and advisory Andrew Griffiths CA says that the retail sector has developed quickly in every segment (Apostolou 2011, p.35). Indeed, a report shows that online retail increased by 12% compared to the last year (Bainbridge 2013). Thus, traditional retail will suffer if they do not develop because of the spread of online
When choosing to shop online or at a brick and mortar store, start by weighing the pros and cons of each established method of shopping. When shopping online a consumer is are able to browse multiple stores while sitting in their pajamas, no driving from store to store, and there is no need to deal with overcrowded stores. Time is not an issue, browsing online for a pair of shoes might start at three in the morning or five at night. Online shopping brings the global market place directly to a shopper’s front door. Under normal circumstances, the common person would not be able to browse and purchase from stores far away like China.
It is larger than the e-commerce market that commands powerful investment due to the rising numbers of internet users and computer access in the country. If one wants to establish a firm connect between e-commerce and the retail market, then we can say that the retail market is here to stay. As disagreeing with the retail market, e-commerce’s potential landscape is at only about $15 billion now. According to current statistics there are 14 million retail outlets in India, which suggest a demographic distribution of an average of 1000 shops for 11 users. Therefore it is clear and pressing need to build a bridge between the e-commerce and retail section. Latest statistics reveal there are 14 million retail outlets in India, which implies a demographic distribution of an average of 1,000 shops for 11 users. There, therefore, is a clear and pressing need to build a bridge between the e-commerce and retail
Based on these concerns, retailers in the international marketplace have their work cut out for them. But through proper education of consumers, and the ever-expanding growth of the infrastructure in many countries, the future seems to be leaning heavily towards using the Internet for many needs.
Over the past few years, the Internet “is fundamentally changing the way companies operate,” to create additional revenue streams and refine the way they do business with existing customers (Ecommerce). E-commerce is crucial to the future success of companies, and those that do not embrace the Internet to conduct its business “will be destroyed by competitors who are leveraging the power of the Internet” (Ecommerce).
Amazon.com operates in the Online Retail Industry. The sector is one of the fastest growing globally and is outperforming the ordinary retail marketplace. It was created after 1995 and it was only the Internet that made it possible for such an industry not only to be established but to become one of the most flourishing sectors in the business environment. What is interesting is that Amazon.com, together with eBay is the pioneer in the field. Both companies were launched in 1995 and are still extremely successful. The creation of e-mail in 1996 had a huge impact on the development of online retail by introducing a fast and easy way to communicate with customers. For this two-year period Internet usage doubled annually, thus, allowing for the expansion of the industry. Google is launched a year later, in 1998, only to become the most used search engine in the world and an essential partner for the online retailers by helping them tailor their websites to customer’s personal preferences and by advertising. After that, more and more people see the opportunity in the growing industry and enter it. By 2001 there are more than 513 million Internet users globally, which calls for action in terms of creating regulations and laws to protect the users and personal property. In 2003, Apple launches iTunes, and provides a platform for low-cost digital downloads. Another major change is the appearance of social media from 2004, which is one of the biggest influencer on the state of the industry. With the launch of iPhone in 2007, this trend strengthens as people get to enjoy the Internet anywhere they want to. From then on, technological advancements have made it extremely easy and fun to shop online, making it ...
The concept of the online shopping was unaccepted for many years. Consumers used to mistrust the online shopping. They were confused about electronic transactions, the quality and shipping. But in this days customers became avid on the online shopping. Suddenly, they became looking for the online button. Customers use the online shopping progressively for everything even if they want to order a
Electronic commerce (ecommerce) refers to a type of business, or commercial transaction, that engages the transfer of information through the Internet (Boltzan, P. 2008). In other words, it is the buying and selling of goods and services including the transferring of data and funds over an electronic network, predominantly the Internet. The leading benefits of ecommerce include twenty-four seven access, and availability, international scope, larger range of goods and services and the speed of accessibility. Ecommerce utilises a variety of functionalities such as email, Web Services, Fax, Shopping Carts and Online catalogues. After a somewhat slow start ecommerce has developed into the largest retail growth area in the world (Kearney, A.T.
E-retailing presents a new way to shop. The store is open 24 hours a day. With a few clicks of the mouse, consumers can compare prices easily. The key rule for purchasing online is the same as for traditional purchases. That is, the best consumer is the best-informed consumer.
A number of consumers strongly advocate the use of online shopping system brings convenient to purchase products. Fabiola (2006) notes that, “the Internet is open 24 hours a day, 365 days a year”. As customers could surf the Internet every moment and everywhere, they could shop in the time which is the most suitable for them. Therefore, the development of online shopping system helps people who need to work until very late at night and when a large amount of shops are closed already. Besides, consumers are likely to buy products that are unsold in Hong Kong. Diamond and Pintel (2008) illustrate that due to buyers can surf some overseas stores website, they may gain those products’ information and buy them. Moreover, air transportation and transshipment are supporting logistics: products can be transport to Hong Kong from far away easily. Thus, Internet solve the limitations on shopping time and place, consumers might purchase more convenient.
Technological advancements have taken the world by storm. The daily chronicles have a different story to tell with every dawn of a new day about a technological invention and/or innovation. Doing business has become competitive more than ever. This phenomenon has created a business environment that follows the cliché, the survival of the fittest. It is in this spirit that businesses have adopted technology to survive and remain relevant in the dynamic consumer environment. This is especially so because the world has become a global village where information, ideas and products flow between different continents have become seamless. The internet has made it easier and cheap for manufacturers, wholesalers, and retailers to transact their businesses in a variety of markets in a faster manner. Consumers are also able to access a wide range of goods and services anytime they feel like. This study discusses the development of e-commerce and its future prospects.
In Australia the economy is growing very fast and the buying pattern of the consumer has been changed. The people of Australia are now using internet for their economic transaction and this tendency is growing very fast. Internet based shopping is growing very fast throughout the world. In 2012, US retail sale is $320 billion, increased by 18 per cent from previous year and internet now influences 27 per cent of the total retail sales. By 2014, it ...
Electronic Commerce as popularly as E-commerce has become a big deal in our growing economy due to the increase use of online systems. E-commerce now of the fastest growing business in the world. The technology has change the way of business. Business that have physical location have now made it an effort to focus their online business. It is the new sort of business platform where you can make use of different technologies like electronic data interchange or transfer document electronically. Online business is an effective of sales.
In today’s era “INTERNET” is playing a significant role in our daily life. People can walk through the internet to one who is actually living on the different side of the planet, can send mails round the clock, search information & even buy things online. With this invention of internet there is a shift in traditional way of shopping. Now there is no need to open a physical store. One can be active at any time and place and purchase products and services. The number of users of internet is increasing day by day which means that online shopping is increasing. Various characteristics of online shopping is making it more convenient for the customers, as compared to traditional way of shopping such as the ability to view and purchase goods and
The Information revolution is changing our daily lives. With the rapid development of computer and internet, online commerce become quite common and plays an important role in the modern world. The online business has booming development in these few years. US online retail sales raised an average of 11% in the first three months of 2009 (“US Online Sales Up,” 2009). The growth of online sales may due to the growing number of consumers who shop online. In the case of Asia, survey reported 77.6% of Internet users have online shopping experiences in 2003 (as cited in To, Liao & Lin, 2007). Online shopping is very different from traditional shopping. Consumers cannot touch and check the product before purchasing it, which means they are at higher risk of fraud than traditional shopping. Consumers also have other concerns such as credit cards security of online shopping. Then questions should be raised: what is the advantage of online shopping? Why people shop online? In following paragraphs, the advantage of online shopping for the consumer and consumer’s motivation to shop online will be reviewed and discussed.
Due to the rapid growth of Internet and globalization of market, the retail sector has become an increasingly competitive and vigorous business environment. Business and marketing activities are influenced by the changes in Internet technologies