New technologies and ways of buying and selling are transforming the lives of consumers. To what extent do you agree or disagree with this opinion? v.2

In today’s technologically advanced world, where revolutionary advancements in the field of E-commerce has drastically changed the shopping habits of the people. Leading to, enhancing the lifestyle of the society. However, such a development has resulted in certain social issues related to health and psychology. In my opinion, although technology have had positive impact on the consumer, it also have produced few negative trends. Firstly, one of the most significant developments in the last couple of decades is that of E-commerce medium of shopping, in which customers can purchase anything from anywhere using websites such as Amazon and Alibaba. Such a phenomenon made peoples’ life way easier than it was a couple of decades ago. For example, in previous times to purchase a watch, an individual had to physically visit various shops to find and negotiate a best price. Whereas, today, watches can be purchased that too by comparing and finding best prices. Secondly, with the transforming technology, the citizenry is using digital currencies such as Visa, Master cards, and PayPal etc. Whereas, in the past, people used to rely solely on hard paper money. Such a drastic development has made it possible for the government and the banks to server customers in much more efficient and seamless manner. Thirdly, technology has made it possible for people to do international shopping through online channels which was not possible earlier. Furthermore, customers can today share gifts with their loved ones from around any corner of the globe through best-in-class technologically driven cargo services. On the other hand, with the rapid transformations in the technology, consumers purchasing habits have increased to unprecedented levels. As a result, they indulge themselves in frequent and over-shopping. As a result leading to financial breakdown and psychological impact. For example, people shop using credit cards way more than their purchasing power leading to later financial concerns. To conclude, it is undeniable fact that technology in the form of internet has become primary source of consumers purchases and has a vital role in the way the life of people has evolved in both positive as well as in negative means.