Benefits of Online Shopping
Online shopping is expanding at an astonishing rate. One advantage is the easy access to market. For example entrepreneurs can access online marketplaces like Amazon and eBay to sell their products within a short time (Goodman, 2019). Moreover, online shopping reduces overhead costs because the seller does not rent retailing premises, and they also avoid the costs of customer-facing retailers. Online shopping allows entrepreneurs to accesses a wider market because they can sell locally and internationally without moving.
The Drawbacks of Online Shopping
Online retailing is subject to cybercrimes in today’s globalization. This issue could damage the reputation of a business if the owner does not invest in the latest security systems to protect the business. Additionally, lack of face-to-face interaction with buyers could compromise the customers’ trust on products (Al-Debei, Akroush, & Ashori, 2015). For this reason, entrepreneurs ought to establish a good customer service system among their online offerings. Online advertising is costly especially when competing for popular keywords in a crowded sector (Goodman, 2019). For example, using pay-per-click, or paid search advertising could be more expensive than other forms of advertising. Similarly, the legal systems could attach online businesses with customer rights which might be difficult to comply with.
The Future of Online Shopping
Personalized experience will play a vital role in the future of online shopping. There will be multiple shopping channels, such that customers will peruse through different channels before making a purchasing decision (Goyal, 2015). Additionally, customer service will be automated in the future. Artificial intelligence will handle more customer questions on live chats as the customer support services will be integrated with virtual assistance. Similarly, people will use crypto-currencies as payment methods because they carry low transaction fees.
Al-Debei, M. M., Akroush, M. N., & Ashori, M. I. (2015). Consumer attitudes towards online shopping : the effects of trust, perceived benefits, and perceived web quality. Internet Research, 25(5), 707-733.
Goodman, P. (2019). Advantages and disadvantages of shopping online. Retrieved from https://toughnickel.com/frugal-living/advantages-and-disadvantages-of-shopping-online
Goyal, A. (2015). Risisng Trends of Online Shopping in India. Biz and Bytes, 6(2), 125131.