Now a virtual storefront cost a mere fraction of the real thing. Anyone with internet access and a little help can sell their goods. Even the large retail stores in the malls are popping up online. Every well known chain has its online store, listing weekly sale advertisements, special online pricing, and all or more of the products they offer at their chains. What used to be 1-800 numbers at the bottom of an advertisement is now a... ... middle of paper ... ...buying, an educated and cautious buyer has no reason to research and buy goods from outside the comforts of their own home.
The Internet Revolution Now, with the click of a button, consumers are buying just about anything imaginable, and all from the convenience of the internet. People no longer have to leave their homes, work or where ever there is internet access to make important purchases. Technology has advanced so that companies are conducting business around the world with out ever meeting. No longer do consumers or businessmen have to shake to complete a deal or a sale, but merely click down on the mouse and the numbers change. Some internet companies have never seen their customers and yet some traditional retailers have not yet acknowledged the internet.
It has, in my opinion, changed the way individuals, institutions, corporations, and governments conduct day-to-day business/operations. One can surmise that the Internet has contributed considerably to the globalization of the world's economy. The Internet has provided a medium for thousands of companies and millions of individuals to join the global market place. Amazon.com and EBay.com are just a couple of the companies that were born from the development of the Internet. Amazon.com conducts business all over the world, selling millions of books each year without having one single retail store.
Even though it has been around so long it has begun to grow rapidly in the last 5 years and is just expecting to keep growing. EDI or Electronic Data Interchange started the whole movement out with it replaced traditional mailing and faxing of documents with a digital transfer of data from one computer to another. A man by the name of Michael Aldrich an English inventor is credited to be the inventor of online shopping. It is said that the idea actually came from a day out of shopping with his wife at the supermarket. In the year of 1979 Aldrich connected a television set to a processing computer with a telephone line and created what he coined, “Teleshopping” which means shopping at a distance.
There seems to be no comparable other way to develop and exploit global markets. The internet is more and more used as a fast, innovative and cost-saving tool to gain and serve customers where they feel most comfortable and relaxed, namely right in their office or at home (Jonscher, 1999, p.204). In the following there are just three examples of companies, which base a significant fraction of their business on the web. Like most of the fashion retailers in the early nineties J.Crew used to have most of its revenue from customers shopping directly in the shops usually located in malls. In order to address potential customers at home J.Crewsent catalogues to selected households and provided the customers with the possibility of shopping from home via phone.
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.
As you find ... ... middle of paper ... ...rs services for the sake of credit card security, www.paypal.com, does not include credit card transactions at all. Instead, money is transferred electronically. Another thing you could do is to make sure that your credit card company has a liability policy. According to most credit card companies you are only liable to the first $50 a fraudster spends. With the everlasting technological advances that are being brought out daily the Internet will become a second world for people everywhere, if not already.
I can find many products that I wouldn't be able to find locally and purchase, have them shipped, and pay for them through a third party, all without ever leaving my home. I am also able to sell goods that I no longer need or cannot use. I often will sell tickets on eBay to people from all over the Northeast and sometimes throughout the U.S. There is also Priceline.com, the reverse auction site for travelers. Instead of the consumer bidding on a trip, the consumer enters the price they want to pay and companies can accept the offer in exchange for the accommodations the customer is looking for.
Then there is the issue of carrying out the merchandise. This whole shopping process can take hours (Kessler, 2009)! Many people avoid all this hassle nowadays by shopping online in the comfort of their own home. According to a study (Entrepreneur, 2003) 72% of online shoppers chose convenience over privacy. In addition, consumers can shop without time limitation with 24 hour access at because the World Wid... ... middle of paper ... ...le PDFCite ArticleFavorite GlobalSchoolnet.org.
Out of the Americans with internet access, 29% will make a purchase during the month (Voglestein 1c). Holiday shopping has extenuated this increase. Goldman Sachs and Nielsen/Net Ratings reported that shoppers spend 17.5% of holiday money on the internet in 2002. Also, on Black Friday (the major shopping day after Thanksgi... ... middle of paper ... ... (Puente 2E). Puente also said the Internet?s trend will increase over 50% a year, and in a short while, Internet shopping will reach half of the shopping population (2E).