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Transcript of Online Shopping
1984- First home shopper: Jane Snowball
1989- First online grocery store opens
1994- First online bank opens
Pizza hut offers online ordering
Amazon was founded
1995- Ebay was founded
1998- Electronic Stamps could be purchased
2002-Ebay acquires Paypal for $1.5 billion Online Shopping Brief Time Line CITATIONS By: Madeleine Wiley Online Shopping The choices we make as a consumer can have a bigger impact than we expect. Our choices can affect ourselves, retailers, our country and other countries. In this presentation I will be detailing the implications that online shopping has. Who invented online Shopping? Its effect on retail... Its effects internationally The Benefits for
the Consumer Percentage of people who shop online by country: New Trend Online shopping was invented in 1979
by Michael Aldrich when he connected a T.V to a transaction processing computer using a telephone line. Michael named this Teleshopping but today we know it as Online shopping or E-commerce. Michael Aldrich is an
English inventor, innovator and businessperson.
He was born on the 22 of August 1941 and he is
happily married to Sandy Kay Aldrich with 4 children and 8 grandchildren. Online shopping has had a large impact on retail. Since you can get just about anything on the internet it is making it much harder for retailers to get rid of stock. The variety available in stores is also decreasing because retailers are not buying lots of stock in fear of not being able to sell it. Mark McInness (chief executive of Premier Retail Group) said “Prices are down 60 and 70 percent and they’re still not buying”! Retailer's profit margins are dramatically decreasing because they are having to sell their products cheaper just to get rid of the items.
Book chains in particular have been struggling a lot to keep up with e-books and online stores such as “Amazon”. As a result, stores like “Borders” and “Angus and Robertson” have shut down earlier this year. They admitted that online shopping had really hurt their business. Considering 44% of all online sales goes overseas, it is obvious that online shopping has international effects. 10 to 20% of online retailer’s main sales are going outside their own country because of cheaper prices. It is cheaper overseas because we do not have to pay GST and other Sales taxes because we are not actually in their country. This can have positive effects for the overseas country for example China’s retail sector is benefiting from our online shopping; there is low unemployment, good wages and heavy investment in the retail sector. Smartphones have become one of the driving forces of online shopping. 70% of smartphone owners have said they use their phones to buy online. With so many features on smartphones it is easier too! They can compare prices on the internet, locate stores, and read reviews of a product before they buy. Smartphones also have many applications that make online shopping more popular: They have email notifications to tell you when a sale is on, apps that review products, apps that compare the prices for you and even apps for the site itself. With smartphones features evolving and with new applications, online shopping will become easier and easier. The Disadvantages for the
Consumer •Shipping costs:
When ordering items online you will have to pay for shipping and sometimes shipping costs will be more than the actual product
After buying the item there is a wait until your purchase has been packed, shipped, and delivered to you. When buying an item online for a specific occasion e.g. Birthday or Christmas etc. you have to be sure it will come in time and plan in advance.
•See it, Touch it, Feel it:
With shopping it online you are not actually able to physically see it on yourself, touch it or even feel it. You can’t inspect the item by just a picture on a website. WHAT IS ONLINE SHOPPING? Online shopping is the act of purchasing products or services over the internet. U.S Statistics
•In 2010 Americans spent $186 billion in online transactions
• Percentage of people researching products online: 81%
•Percentage of people with internet that have used online auctions: 26%
•Percentage purchased an online product: 66% Future of Online Shopping •It's cheaper!
Shopping online is much cheaper! You can get better deals on a product because the online retailer does not have to pay for lighting, employees, air conditioning, rent and other expenses like that. Also buying online means your do not have to pay Sales tax and other extra charges.
Shopping online saves lots of time if you know what you want you can go in, order and then you’re done.
Shopping online makes it easier to compare the prices of items so your know where to get the best deal as well as the cheapest shipping prices
With online shopping it is so much easier to find the item, colours, style , size and whether it’s in stock or not. Also with online shopping is doesn’t restrict you by country. Items that are sold most online
•Music Online shopping gradually started becoming more popular around 2004 but over the past 9 years it has quintupled in size. The current sale is now 250 billion! Thank You for watching my presentation! I hope you enjoyed it! Smartphones and Online Shopping There will be some positives for the consumer. The editor of Trade Magazine - Don Davis says that the in-store experience will get better as online shopping grows. It will be easier to compare prices. In order to keep up with online sales, shops will have to start creating better physical experiences with more experienced staff and exclusive items that you cannot get online. As well as this, stores are offering services that you can’t get by purchasing products online such as free installation or free repair services to increase sales. This trend isn’t just affecting small stores but big retailers as well. The Premier Retail Group (they own popular chains like Portmans, Just Jeans, Jay Jays, Peter Alexander etc.) have been making drastic changes to keep up with the advancements of online shopping. They will be closing over 50 stores in Australia and opening 100 new stores (over the next 3 years) in places like Singapore and New Zealand hoping it will keep their sales up. Lots of people have lost their jobs and are unemployed because of how many stores have closed. This also means that finding a job in that community will become more difficult. •Access:
Online store are always open, so you can shop whenever you want - irrespective or time or day.
With online shopping it saves more money as opposed to going out where you would spend money on coffee, food, parking and impulse buying.
Buying online relieves stress - no more worrying about finding a carpark, finding the time, having to drive to the mall, having to get dressed to go to the mall and you don’t have to worry whether they will have your size, the right colour or if they even have it at all!! With online shopping you are in the comfort of your own home.
No more driving to the store and back! With online shopping you can get everything with a click of a button and it is even delivered to you •Safety risks:
With some online stores there may be risks when putting your credit card number, address or even your name.
When purchasing items over the internet it is a real hassle if the item is defective. You would have to return the product yourself and this will include paying for the shipping costs. It adds to the frustration if you have already had to wait days/weeks for the items - only to find it’s defective. History Top 10 most popular Online Shopping sites 1.Amazon
10. Zappos Good: With technology advancing online shopping continues to grow and develop. For example there are now virtual change rooms so you can see yourself in the garment and also determine the correct sizing and see how it fits. Bad: In America there are new legislation rules that internet retailers must collect sales tax. There are already 12 states that either have approval or are waiting on this legislation to pass. Senator Dick Durbin of Illinois is hoping to make this a national law. It is not certain the legislation will pass but it will happen sooner or later. (2011) Businessdictionary.com (n.d.) What is online shopping? definition and meaning. [online] Available at: http://www.businessdictionary.com/definition/online-shopping.html [Accessed: 16 Feb 2013].
Deals Direct Blog (2012) E-commerce Sales and History of Online Shopping [Infographic] - Deals Direct Blog. [online] Available at: http://blog.dealsdirect.com.au/e-commerce-sales-and-history-of-online-shopping-infographic/ [Accessed: 16 Feb 2013].
En.wikipedia.org (2009) Michael Aldrich - Wikipedia, the free encyclopedia. [online] Available at: http://en.wikipedia.org/wiki/Michael_Aldrich [Accessed: 16 Feb 2013].
Heller, L. (2011) The Future of Online Shopping: 10 Trends to Watch - Forbes. [online] Available at: http://www.forbes.com/sites/lauraheller/2011/04/20/the-future-of-online-shopping-10-trends-to-watch/ [Accessed: 16 Feb 2013].
The Sydney Morning Herald (2011) As stores close doors, consumers open wallets on internet. [online] Available at: http://www.smh.com.au/business/as-stores-close-doors-consumers-open-wallets-on-internet-20110725-1hx57.html [Accessed: 16 Feb 2013].
Translationdirectory.com (2011) Online Shopping’s Pros and Cons. [online] Available at: http://www.translationdirectory.com/articles/article2329.php [Accessed: 16 Feb 2013].
Unknown. (2013) Untitled. [online] Available at: http://sais.aisnet.org/2005/Tabatabaei,%20Butler%20&%20Rogers.pdf [Accessed: 16 Feb 2013].
Visual.ly (2010) Online Shopping Statistics | Visual.ly. [online] Available at: http://visual.ly/online-shopping-statistics [Accessed: 16 Feb 2013]. Statistics http://visual.ly/online-shopping-statistics http://visual.ly/online-shopping-statistics http://www.sheknows.com/shopping/articles/804419/online-shopping-tips-and-tricks http://10think.com/top-10-tips-to-save-in-online-shopping.html