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Transcript of Online Shopping
Society has taken a huge leap from traditional shopping to online shopping. Few could have predicted the popularity of online shopping especially how quickly it has evolved over the years. At one time people were very reluctant when it came to giving out credit card information online but, now it is second nature. Companies such as EBay, Amazon, and Kijiji are more successful than ever. This is mainly due to the great deals and impressive bargains that people wouldn't ordinarily have found at a retail store.
In 1995 the arrival of Amazon and EBay
Online Shopping will have forever changed the dynamic of shopping. Although it has its cons the majority of sites are trustworthy and have great customer satisfaction. Most people no longer want to spend hours at a time looking from store to store however with online shopping they are able to have easy access to all of the best deals around the world. In today's rapid pace time is vital and precious commodity that should not be wasted.
The Online Giants
In 1990... the WorldWideWeb was invented by Tim Beruers Lee and Robert Cuillian which was the very first web browser.
In 1991... The National Science Foundation removed all restrictions for commercial use and both the internet and online shopping started to grew in popularity.
In 1994... Pizza hut started to open up an online shop and sold its first pizza online.
Online Shopping vs. Traditional Shopping
The idea originated in 1979 by Michael Aldrich from the UK who came up with something called Teleshopping during a conversation with his wife using Videotex.
In 1979... the pioneer in online shopping began with Michael Aldrich an entrepreneur whose beliefs were a little different from the average person regarding the future of media and communications.
History of Online Shopping
In 1980... Michael Aldrich further pursued his dream for Teleshopping by launching Redifons Office Revolution which allowed people to make business transactions online predating the internet while on the program Videotex. Although teleshopping wasn't a success it was the building blocks for which paved the way for future online shopping
Interesting Facts and Statistics
The Pro's and Cons of Online Shopping
Amazon started in 1995 and was originally called Cadabra but later changed to Amazon so that the site could appear on the top of alphabetical lists.
The company's original plan was to have a slow but progressively start before they could make a profit. This plan caused many investors to question their investment. Surprisingly enough the company did not make any real profit until 2001 where revenues went up to $1 billion.
Jeff Bezos the creator of Amazon actually started the company from his garage. He first made a list of 20 possible marketing items for an online store and eventually narrowed the search to just sell books online. The very first book sold was called Douglas Hofstadters.
Ebay was created by Pierre Omidyar in the same year as Amazon. The original name was called Auction Web and was later changed to EBay short for Echo Bay.
The idea came to Omidyar when he sold a broken laser pointer online for $14.83. Although it was more of an experiment to him this brought into existence the idea of starting his own online auctioning site.
They became billionaires in 1998 and today run one of the biggest online corporations in the world with the company today worth
According to a study from Forrester Research 81% of all people who use the internet spend time researching merchandise online and 60% of them bought an item online.
Cyber Monday in 2012 is one of the biggest days for online spending where shoppers spent nearly $1.47 billion U.S.
Back in 2010 Americans spent around $186 Billion through the internet.
Further studies predict by 2017 more than 1/10 of all U.S. sales will be made from online.
Mobile purchasing is also becoming more popular approximately 37.6 million people shop via mobile devices.
Part of the reason why online shopping is so appealing is the incredible selection of products available. With only the click of a button people are able to both view and compare prices to get the most value for your money.
Through online shopping the prices are often lower than traditional stores because they don't have to worry about the same expenses and overhead in order to run a store.
Another benefit to online shopping is the amount of time and money saved by not having to drive from one store to the next. This is especially relevant to those who are physically handicapped or house bound.
Everything is user friendly and can be accessed even through your mobile phone.
There are also no line ups to contend with. The annoyance of waiting in an excruciatingly long line is a thing of the past and one of the key highlights to converting to online shopping.
Lastly, online shopping is safe and reliable as it provides both reviews and healthy feedback from fellow customers alike. According to eMarketer customer reviews are relied upon 12 times more than product descriptions.
The biggest turn off for online shopping is the constant threat of criminals getting your credit card info. There are certain products that require hands on inspection such as buying fresh produce or purchasing a bed and that is not possible online in order to guarantee full satisfaction. Another disadvantage is that although products can be sold cheaper than traditional stores not every product includes free shipping. This added cost sometimes defeats the whole purpose of saving money and traditional shopping is more beneficial. In many cases traditional shopping is regarded as a social and enjoyable leisure activity.
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