Technology has impacted every aspect of human life and shopping is no exception. The explosive growth of the internet and social media has led to the phenomenon of online shopping and tech savvy consumers are now fulfilling their needs through online shopping. Online shopping affects companies and consumers favourably and has various drawbacks as well.
There are various benefits of online shopping for both buyer and seller. First and foremost is the convenience for the buyer A part from that, online business is also beneficial for the seller as it helps increase his sales and is also cost effective as there are no cost for operating the store and hiring staff. For instance, anyone can book an order online from the comforts of their living room without commuting to the store and waiting in long queues for payments. Moreover, the seller will enjoy more sales as he is operating 24 hours a day and 7 days a week and increased profits due to reduced operating cost.
On the other hand, there are certain pitfalls of e commerce. There is always a risk of fraud which is a cause of concern for both the company and individual. For example, there are various cases of hacking, identity theft, phishing, counterfeit products and other scams that are quite common. Moreover, shipping problems and delays are also a challenge. For instance, a buyer might receive a damaged product or an order might be delivered to a wrong address.
In a nutshell, there are various positive attributes of e commerce such as ease and convenience, cost effectiveness, profitability. On the flip side, it also comes with some downsides. However, the pace with which technology is making progress, it seems like online shopping would be more effective and advanced in the years to come.
Technology has impacted every aspect of human life and
shopping
is no exception. The explosive growth of the internet and social media has led to the phenomenon of
online
shopping
and
tech savvy
consumers are
now
fulfilling their needs through
online
shopping
.
Online
shopping
affects
companies
and consumers
favourably
and has
various
drawbacks
as well
.
There are
various
benefits of
online
shopping
for both buyer and seller.
First
and foremost is the convenience for the buyer A part from that,
online
business is
also
beneficial for the seller as it
helps
increase his sales and is
also
cost effective as there are no cost for operating the store and hiring staff.
For instance
, anyone can book an order
online
from the comforts of their living room without commuting to the store and waiting in long queues for payments.
Moreover
, the seller will enjoy more sales as he is operating 24 hours a day and 7 days a week and increased profits due to
reduced
operating cost.
On the other hand
, there are certain pitfalls of
e commerce
. There is always a
risk
of fraud which is a cause of concern for both the
company
and individual.
For example
, there are
various
cases of hacking, identity theft, phishing, counterfeit products and other scams that are quite common.
Moreover
, shipping problems and delays are
also
a challenge.
For instance
, a buyer might receive a damaged product or an order might
be delivered
to a
wrong
address.
In a nutshell, there are
various
positive
attributes of
e commerce
such as
ease
and convenience,
cost effectiveness
, profitability. On the flip side, it
also
comes
with
some
downsides.
However
, the pace with which technology is making progress, it seems like
online
shopping
would be more effective and advanced in the years to
come
.