E-ShoppingEssay Preview: E-ShoppingReport this essayE-ShoppingOnline shopping has impacted the economic, political and cultural development of the financial markets and the economy. Many consumers have been using the World Wide Web in order to purchase items. The computer technology has allowed consumers to use the internet to their convenience to shop. Online shopping has impacted the United States economy greatly. The impacts of online shopping have been advantageous as well as disadvantageous.
The beneficial impacts of online shopping are greatest on the nations economy. Consumers do not only purchase items online, but the internet allows consumers to compare and browse items online. This then results in consumers going out and buying those items at stores. “But because people also go online to investigate merchants and compare products, the internet winds up influencing about six times that many offline purchases” (Freeman Evans 1). The internet has allowed holiday sales to grow twenty one percent from last year to $16.8 billion. December 9th seems to be the busiest day of shopping online. Purchases totaled in $367 million. Another example of online shopping is Overstock.com. This sites sales were up 75% from last year. Another benefit of online shopping is free shipping and no waiting in lines. With all of these advantages online shopping has become very popular. “Online sales will represent 4.5 percent of total holiday sales- an estimated $12.2 billion of a total of $271 billion” (Suneel Ratan 2). With all of these consumers buying, the businesses throughout the nation are doing well and aiding in the U.S. Economy. Online shopping is a multibillion dollar growing market growing at 35 percent a year.
The economy is not the only thing impacted by online shopping. Surprisingly enough, online shopping has impacted political and culture development. Many of the American people show no interest in politics but Amazon.com did something to change that. At Amazon.com consumers were able to see the politicians running for office and then make a small contribution online to the certain candidate while purchasing an item. The cultural impacts of online shopping have also been great. As the holiday seasons are coming closer, there are many consumers with families living in different parts of the country or even the world. Therefore, instead of buying flowers and having them shipped, now the consumer can go on a website in that certain country and purchase flowers there with no heavy and expensive shipping costs. The World Wide Web allows consumers to see different goods from different countries. Now shopping is no longer done in a limited area but can be done, nationwide and even world wide.
However; there are some disadvantages of online shopping. Although many businesses are prospering, many non-internet based businesses are suffering. For instance, many people purchase traveling tickets online. Twenty five percent of all travel is now booked online. Therefore; many small travel agencies have suffered a great financial loss. The convenient shopping done at home has hurt many businesses that depend on consumers to pay for rent. Many online businesses do not have to worry about high rent or pay to numerous amounts of sales representatives. Therefore, as many large businesses such as Paris-based companies that own status manufacturers such as Louis Vuitton, Christian Dior, and Dom Preignon saw its stock
s fall in February, the demand for their products and services in India was very high. At the general online retailer’s annual General Office meeting, more and more large online retailers were coming out of the shadows of online retail, offering the lowest prices, as well as better quality services, and offering discounts on their store’s products for $1.99. The question is: can online retailers meet their target in India even if they don’t have the ability to meet their sales targets. To answer this, online retailers have started to bring in some serious talent. They started offering special discounts, promotions, and incentives which they are now using to attract new consumers and create a strong brand. Most online retailers are now opening stores in India. According to online retailing website Shruti, there are 12,000 online stores. The number grew to 29,000 when the company is listed on Sotheby’s on February 12, 2013.
*I am using the official figures provided in this post as the number of retailers available, not the number of outlets. As such, the real number will depend on the specific location and market. A true estimate is that online retailers are currently at 1% – so a number of other factors can affect how fast and how much of a sales funnel online retailers have made.
*Since the growth rate of Internet retailing is only about 0.03%, and only about 1% of retail space has been created in online stores, the actual retail space of online malls is significantly less.
You can think of retailers like these as “gigapatters” which in this context are used to attract the people you want to buy from online online stores by charging you a lot. Or in other words, retail locations are the kind of place where you buy your products online (as opposed to using a store that comes with real stores). While these stores will provide a limited amount of value for people who have a need, retail locations can do other things to enhance the store experience. (1) You can shop at such stores, such as at Amazon.com or at Target.com . You could spend some extra dough to create a small small selection of what you need to buy if you are a large retailer. And, just like a grocery store, you can order something that you can buy at some stores. But if you want to make your groceries for the shop’s customers, you can buy them at their local grocery store. So there are some more ways a retailer could use this store experience to promote the store. At Amazon.com, customers can book online and select “Buy Online” for 30- 60% discount on all prices. Then they can order their goods by contacting their online store manager. This could serve to spread awareness of the store online.
Another thing online retail outlets like Amazon do that will help them to grow the store itself is to offer up special