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Online Shopping

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Entrepreneurs saw the potential in online shopping and sprung at the chance to ... Risks & Disadvantages of Online Shopping. Fraud- Do you know the Company? ... – PowerPoint PPT presentation

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Date added: 11 July 2020
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Title: Online Shopping


1
Online Shopping
  • Group Members
  • George Harris
  • DaVid Robinson
  • Binh Dao
  • Kwadwo Kwakwa
  • Alex Covrljan
  • Tim Connolly

2
What is Online Shopping?
  • The online selling of or enabling
  • the sale of products or services to
  • consumers.

3
How did Online Shopping come about?
  • Online shopping emerged with the development of
    the internet.
  • Entrepreneurs saw the potential in online
    shopping and sprung at the chance to make virtual
    storefronts, so that consumers could shop without
    leaving their homes.

4
Growth of Online Shopping
  • There are over 70,000 new websites put on the
    internet every hour.
  • Internet traffic is doubling every three months.
  • Projected annual internet commerce revenue has
    grown from 35 billion in 1998 to 1.4 3.2
    trillion in 2003.
  • (Taken from CISCO Systems WEB Site)

5
Risks Disadvantages of Online Shopping
  • Fraud- Do you know the Company?
  • Security- Is your credit card safe?
  • Privacy- Is your information being sold?
  • Shipping- Are you getting the correct product at
    the requested time?
  • Difficulty- Do you know how to shop online?

6
Consumer Benefits
  • Convenience
  • -Geographic
  • -Store hours
  • -Ease of transaction
  • -Quick and efficient shopping process
  • Information
  • -Quick location of items
  • -Easy price/attribute comparisons

7
Firm Benefits
  • Less dependence on intermediaries
  • -Geographic distribution
  • -Holdup
  • -Time to delivery
  • Marketing
  • -Target marketing
  • -Direct customer relationships
  • -Customer service

8
Online Shopping VS. Traditional Shopping
  • Differences
  • -Cannot try or test product before purchase.
  • -Minimum human interaction if any.
  • -Cannot pay by cash.
  • -Shop anytime online.

9
Online Shopping VS. Traditional Shopping
  • Similarities
  • -Advertisement.
  • -Security.
  • -Convenience.

10
2005 expected pattern of electronic shopping users
11
Key Findings of Michael De Kare-Silver in e-shock
  • Already about 15-20 of consumers say theyd
    prefer to shop electronically rather than
    visiting the shops.
  • It only takes a drop of about 15 in store
    traffic to make many stores unprofitable.
  • This revolution will achieve critical mass as
    early as 2005.
  • Manufactures can seize the opportunity to decide
    whether to establish their own direct consumer
    distribution and bypass existing retail chains.
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