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Definition: Online shopping- The act of purchasing products or services over the Internet. Online shopping has grown in popularity over the years, mainly.

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Presentation on theme: "Definition: Online shopping- The act of purchasing products or services over the Internet. Online shopping has grown in popularity over the years, mainly."— Presentation transcript:

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2 Definition: Online shopping- The act of purchasing products or services over the Internet. Online shopping has grown in popularity over the years, mainly because people find it convenient and easy to bargain shop from the comfort of their home or office. One of the most enticing factor about online shopping, particularly during a holiday season, is it alleviates the need to wait in long lines or search from store to store for a particular item. Business Dictionary

3  Quick and easy to get going  Cheap to setup  There is no loss to theft  24 hour sales  National and international reach (Edwards, 2012) (Housley, 2011)

4  Stock more items  More flexibility  Environmental factors don’t effect the internet  Customers can promote your products much more easily (Edwards, 2012) (Housley, 2011)

5  Marketplaces take a cut  More competition  Less customer contact  No touch or feel  No passing foot traffic (Housley, 2011)

6  Online marketplaces have less trust than a physical store.  There is uncertainty and lack of control because:  Required to share personal and financial details  Risk of products and services not matching descriptions  Trust is the most frequently cited reason for consumers not willing to buy online (Housley, 2011) (Tang & Chi, 2000)

7  Four simple questions  People shop online  Popular sites are eBay, Amazon and Ryanair  Unexpected result from survey only online shop once a year  Reasons for not shopping online is Less trust and online scams SurveyMonkey

8  Business Dictionary (n.d.). What is online shopping? definition and meaning. InBusinessDictionary.com - Online Business Dictionary. Retrieved December 24, 2012, from http://www.businessdictionary.com/definition/online-shopping.html  EDWARDS, P. (2012, June 3). The pros and cons of online retail | Brightpearl. Brightpearl | Business management software for growing retailers - 30 day FREE trial. Retrieved December 23, 2012, from http://www.brightpearl.com/blog/2012/06/29/the- pros-and-cons-of-online-retail  Edwards, P. (2012, June 28). Online Versus Offline: The Pros and Cons of Online Retail | Business 2 Community. Business 2 Community - Building Deeper Business Relationships Through Engaging Communities. Retrieved December 23, 2012, from http://www.business2community.com/consumer-marketing/online-versus-offline-the- pros-and-cons-of-online-retail-0205608  Housley, S. (2011, July). Online Shopping’s Pros and Cons. Translation portal: translation jobs, translation agencies, freelance translators and much more. Retrieved December 23, 2012, from http://www.translationdirectory.com/articles/article2329.php  Koufaris, M. (2002). Applying the Technology Acceptance Model and Flow Theory to Online Consumer Behavior. Information Systems Research, 13(2), 207 - 212. Retrieved from https://vle.iadt.ie/bbcswebdav/pid-36870-dt-content-rid- 58941_1/courses/DL245_COMM_H2002/Consumer%20behaviour%20on%20the%20web% 281%29.pdf.  Tang, T. W., & Chi, W. H. (2000). The Role of Trust in Customer Online Shopping Behavior: Perspective of Technology Acceptance Model. 0-1. Retrieved from http://www.casos.cs.cmu.edu/events/conferences/2005/2005_proceedings/Tang.pdf.

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