New technologies and ways of buying and selling are transforming to the lives of consumers

The internet has undoubtedly changed the way people shop. In some countries, buying and selling products online has become commonplace. Enthusiasts claim that the internet offers consumers greater choice and flexibility. However, those who say that the internet is transforming the lives of consumers are going too far. Firstly, although online shopping appears to offer greater convenience, it is often rather risky and cumbersome in practice. Consumers can not evaluate the quality of online products by handing them directly. Instead, they must rely on sellers to describe goods accurately in word and/or pictures. Mistakes can easily be made, leading to the inconvenience of having to exchange goods or seek a refund. Products bought online also normally need to be delivered by post. The convenience of online shopping thus hinges in part on the efficiency of the postal service. Secondly, in spite of the promise of lower prices, internet shopping seldom offers substantial savings. A competitive marketplace ensures that large price differentials rapidly disappear as suppliers align themselves with one another. Also, the cost of postage is normally borne by the buyer. A product that appears to be a bargain on screen often turns out to be no cheaper than the same product bought in a shop. Not surprisingly, only one in ten purchases in the UK are made online. For these reasons, internet shopping is likely to remain a minority pursuit. The continuing popularity of shopping in the traditional way suggests that consumers continue to value its advantages: the opportunity to sample, compare and buy products in a real as opposed to a virtual space.