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Impact of the Internet on shopping
Relationship between online shopping and traditional shopping in the near future
Impact of the Internet on shopping
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In recent years, Internet has becomes one of the best tools in the modern society covering a wide range of areas such as business, military, communication and information exchange. It is not only limited to web browsing or sending / receiving emails only. People could even purchase tickets of the movie or concert tickets, download any favourite songs or movies and to buy things in foreign countries via the Internet without leaving the house (Pakhare, 2010). Internet is a common term in the 21st century. It is now relatively easier and lower cost to develop an e-commerce business than it was 10 years ago, therefore more individuals have bloomed up to entering into the world of Internet business. At the same time, failure cases are still rising.
E-commerce has not been cooled down by the “Dot com bubble”, but it has caused e-commerce to become more flourished than before (Census and Statistics Department, 2010). It is due to the fact that Internet services are begin provided in 24 x 7 x 365 basis such as service is available all year round. Consumers could gain any marketing information and to gather other consumers’ experiences in a borderless fashion via the Internet (Backer, 2005). Thousands of forums, blogs, news-groups and social utilities are famous channels in distributing consumer to consumer (C2C) information and business to consumer (B2C) information, otherwise known as the “word of mouth”. Based on the Internet, both good and bad comments of the products could be obtained in a more effective and efficient.
Reports from the Hong Kong government were available which provided an overview on the usage of Internet by Hong Kong resident. On “Usage of personal computers and internet services by Hong Kong Residents, 2000 to 2009” report (Census and Statistics Department, 2010), it showed that there was an increase in the number of families with Personal Computer (PC) connected to the internet during the years 2000 to 2009. The numbers have increased from 770 thousands families (36.4%) in the year 2000 to 1.6 million families (73.3%) in the year 2009. In 2009, there were approximately 620 thousands families (26.7%) without Internet connection. The people among the top usage of the Internet were mainly from 10 to 34 years old with more than 95% of the people in this age group with Internet connection in 2009. The number of people above the age of 45 with internet usage have also increased by nearly 10 times, during the years from around 129 thousands (5.
1 (2008): 1-3. Prevalence and Correlates of Excessive Internet Use among Youth in Singapore and China. Annals, Jan. 2008. Web. Feb. 2010. http://www.annals.edu.sg/PDF/37VolNo1Jan2008/V37N1p9.pdf [8]
Prendergast, G., Ko, D., & Siu Yin V., Y. (2010). Online word of mouth and consumer purchase intentions. International Journal Of Advertising, 29(5), 687-708
In India there are many small entrepreneurs setting up an e-commerce model for their businesses. Ecommerce can be fruitful for an organization over the web only if there is a solution to an existing customer problem. This paper aims at introducing basic e-commerce concepts to entrepreneurs who wish to set up an online model (Internet).
In article “The influence of e-word-of-mouth on travel decision-making: Consumer profiles”, it says that the presence of e-WOM brings more choices and information to tourism from a wide range of users (Hernández-Méndez, Sánchez-Fernández & Muñoz-Leiva 2015). Another advantage is social media tools are considered a more credible source of information because those who generate the content have no vested interest in the companies. According to Wu and Wang, “if users trust the comments and opinions of others in the online environment, it will positively affect their trust and attitude towards the brand and their purchase intent.” (as cited in The influence of e-word-of-mouth on travel decision-making: Consumer profiles
The e-commerce dollar volume of business conducted over the Internet in 2000 and 2001 was reported to be 354.9 billion and $615.3 billion respectively, with these figures forecast to reach between $4,600 and $9,240 billion by 2005, depending on which analyst’s figures are used. Whether it’s the conservative or the optimistic, the growth projections of 747% to 1502% are indicative of the enormous opportunities for e-commerce and the business world of the future (Plante 13/11/03). Opportunities Over the past few years, the Internet “is fundamentally changing the way companies operate,” creating additional revenue streams and refining 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 their business “will be destroyed by competitors who are leveraging the power of the Internet” (Ecommerce). This new way of doing business through e-commerce allows companies to revise their internal operations to improve efficiency and reduce costs significantly while taking customer service to a new level (ecommerce)....
Without customers continuing to purchase products from any company, there will not be any profit. For consumer needs, good communication habits are required so that his or her satisfaction is always priority. By consistently keeping an open means of communication with purchasers, there will be continued knowledge of how to keep them satisfied. Word of mouth can make or break a company (Richins, 2009). When consumers receive negative feedback about a product by someone they trust in their personal life, they are very likely to avoid purchasing that product.
The Internet and international business is an interesting topic- discussing an area of business that will probably be around for many years and possibly centuries to come. Since its earliest days, the Internet has been a means of communication, an essential tool in almost instant communication.
One of the fundamental factors that has affected the process of economic globalization is the improvements in the technology of transportation and communications. This has reduced the costs of transporting goods, services, and factors of production and of communicating economically useful knowledge and technology. There is no doubt that advances in information and communications technology are the most important technological advances of the past quarter century (Mussa, 2000). By far, the most important and business altering advancement is the internet. There is evidence everywhere that the internet has greatly affected international trade. The internet has opened up the world, and brought it right into everyone's home and business. In addition, technology and the internet have greatly reduced the costs of doing business. Even the smallest operation can now go global via the internet at almost no cost. However, there are still some problems that face these e-commerce activities. These problems are shot-term challenges and can be met. The key issues center around two areas:
Recently, the Internet has become the most significant technology in all over the world, which is not only used by the people to contact with each other but also utilized by the business organizations to become global (Taylor, Caeti, Loper, Fritsch & Liederbach, 2006). Computer and internet enable the business organizations to execute the Electronic commerce business model, which has become very popular. Computers and Internet are a powerful source in the success of globalization and international business. Computers are being used worldwide and due to this, cyber crimes are increasing continuously with a rapid growth (Cheeseman, 2006).
Word of mouth is one of the fastest sources of transmitting the information and the mechanism best referred to for the successful transmission is the availability of social media through which various interactions among people take place which shape up the loop of communication about our surroundings and help in creation, share, exchanging information and ideas in virtual communities and networks. The importance of word of mouth is seen from its large scale effect that it poses on the making of customer perceptions about brands and is affected very quickly by communication. If the communication is effective, the more easily the
Consumers pay millions of dollar for an advertisement campaigns, but word of mouth advertisement is absolutely free and reliable. This type of marketing spread quickly and effectively among consumers. (Jacques Bughin, 2010)
Human’s life has changed. Most of the people have come to cities instead of towns. Kids spend most of their time inside houses either watching TV or playing computer and maybe do their homework. Internet is one of the most recent changes in the last two decays. Not surprisingly, this new phenomenon is perhaps one of the greatest inventions of the last century, but unfortunately this occurrence has made some negative impact on our society and children.
The Internet has become a key ingredient of strenuous and busy lifestyle. ‘Internet’ has become the central-hub for communication, explorations, connecting with people or for official purposes. Resultantly, Internet growth has led to a plethora of new developments, such as decreased margins for companies as consumers turn more and more to the internet to buy goods and demand the best prices.
In the past 20 years, the world that we live in has evolved exponentially, technological breakthroughs have fuelled this evolution and are still continuously doing so. One such advent was the arrival of internet. Internet started its journey as a slow and unreliable tool mainly targeted at academicians for research purposes but since then it has grown in both size and services. Today it touches almost every aspect of our day to day lives. From medical field to military operations, from high speed communication to global navigation, its applications can be experienced everywhere. The internet has continuously contributed to the radical changes in many facets of human endeavours, including the commerce.
The high take-up of the Internet leads to variety of opportunities in front of companies. People are more online than ever. They spend many hours each day on Social Networks such as Facebook and Google+. It is no wonder that buying and selling can now be done in a more convenient way. Although traditional shopping is still thriving, online shopping can be an alternative for people wanting to save time and money. If a certain customer plan to go shopping, it could be stressful and also be time consuming. E-business has made shopping or any kind of transactions online much easier and convenient. It introduces new facilities, opportunities and way of shopping for both vendors and customers.