PPT On Online Shopping
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Online Shopping Presentation Transcript:
1. IntroductionOnline Shopping
Online shopping is the process whereby consumers directly buy goods or services from a seller in real-time, without an intermediary service, over the Internet
Shoppers can visit web stores from the comfort of their homes and shop as they sit in front of the computer
2. Online Shopping (advantages for retailers)
Risk Offline stores: keep all items Online stores: can list an item for sale even if you don't have it
Competition Offline businesses: have harder time being found Online retail stores: have easier time trying to cater to a certain people
Profitability Offline store: can only cater to your local market unless you expand and open more stores Online world: business if done right is a lot more profitable
3. Online Shopping (for customers)
Convenient overall ease of finding a product, time spent on shopping, minimization of overall shopping effort No need for vendors and no pressure to buy
freed from the pressure to buy from the vendors and can spend more time to make wise purchase decisions "Infinite shelfspace" available allows to browse through products that are made all around the world without geographical boundaries Able to compare product price and features can compare product prices and features to make a better decision with less effort Privacy and security issues Privacy:
many do not trust the privacy of the Internet and are concerned with their credit card frauds, use of their information for other purposes, etc.
Security: not the top concern because many shop on Web sites that they trust Access to the Internet and computer necessary seems to be limited to people of reasonable amount of income elderly people tend to shop at traditional retail stores Product category risk online shoppers are worried that the products will not be what they have expected by viewing online Too many choices may be unable to process the potentially vast amounts of information about alternatives
4. Online Shopping (for customers) Privacy and security issues -
Third-party seal This is a very important issue because studies have found that "consumers who perceive fewer risks or concerns toward online shopping are expected to maker more online purchases than more risk-laden consumers (Miyazaki & Fernandez, 2001, p. 31). Although it is possible to invade one's privacy online, no significant amount of statistical results relating to the victims who have been invaded, has been found. Many are simply concerned and mistrust online stores. What online stores need is the mechanism that signals security of financial transactions on the Web. One possible solution is to require web site makers to provide a third-party seal approval that signal privacy and security on their web sites. Thus when consumers see the seal, they can trust the Web site and not worry about invasion of their privacy. Moreover, all companies will desire to keep frauds away in order to build company reputation and to survive in the competitive online market. Once they build consumer trust, online shoppers will not be discouraged to shop on their Web sites.
Access to the Internet and computer necessary - growing use of computers
In 2003, US Census Bureau has found that 70 million households, or 62% of US population has one or more computer, up from 56% in 2001, which is 62 million households, and 55% households of the nation has Internet access, up from 50% in 2001 ("Home Computers and Internet Use in the United States," 2003). 39% of those who do not have internet access, said that they either do not need it or are not intereseted. Also, another study has found that income and shopping experience had no significant relationship (Lokken et al., 2003). However, more higher income households tend to have Internet access, thus making Internet more affortable is a good idea to make onlins shopping available to more people.Product category risk - 3D technology Apparel online shopping has a lot of room for improvement. Although it is not yet widely used, many online shop creaters are developing 3D technologies to use for online shopping. Companies such as E-Tailor, is developing customized fitting room for consumers to build their own body online that will allow them to try on as many clothings as possible.
A university in Switzerland is developing a more powerful try-on application that will allow their customers to apply multiple layers of clothes. To avoid the slow downloading time of 3D graphics, they are moving the cloth and skin animaiton to the client side, using program such as ActiveX that is downloaded automatically at the first access tot he Web page (Cordier, Seo, & Magnenat-Thalmannm, 2003). To See full article go to:http://tclab.kaist.ac.kr/~fcordier/Home_files/Papers/ Made-to-Measure_Technologies_for_Online_ Clothing_Store.pdf Simlarly, E-Tailor is designing a program that will allow animation of scanned customer bodies in the virtual fitting room (Kartsounis, Magnenat-Thalmann, & Rodrian). Moreover, in the United States, 3D body scanning system is being developed for use in the apparel industry that can possibly be used for online shopping (Istook & Hwang, 2000).These sites allow you to view the 3D technology: http://www.cyberware.com http://www.atc.gr/e-tailor Too many choices - Interactive decision aids Online shoppers are looking for useful functions on Web sites in addition to ease of use (Lim, 2002). More specifically, they desire to compare available products and their prices from a variety of different online stores (Limayem, Khalifa, & Frini, 2000, p. 428). By providing decision aids that help decision making, Web sites can attract more online shoppers.
Many choices can be confusing, but with interactive toolkits such as recommendation agent (RA) that allows consumers to view a useful set of products out of the infinite list on the Web, and comparison matrix (CM) that allows in-depth comparisons among selected items . These interactive decision aids allow consumers to make "better decision with less effort" (Haubl & Trifts, 2000). Especially CM, already used by many web sites, allows viewers to compare different prices of one product offered by different vendors on the Internet. Thus, the toolkit allows consumers to receive the best deal possible. Although these tools are already provided by many Web sites, they can be improved by adding more features that will provide more details of products. The tool is also beneficial to the society because they keep the market prices competitive so that no one vendor can charge significantly more than others.
Lack of full cost disclosure The lack of full disclosure with regards to the total cost of purchase is one of the concerns of online shopping. While it may be easy to compare the base price of an item online, it may not be easy to see the total cost up front as additional fees such as shipping are often not be visible until the final step in the checkout process. The problem is especially evident with cross-border purchases, where the cost indicated at the final checkout screen may not include additional fees that must be paid upon delivery such as duties and brokerage. Some services such as the Canadian based Wishabi attempts to include estimates of these additional cost,[17] but nevertheless, the lack of general full cost disclosure remains a concern.
5. Payment Options
Various modes:
Credit card (most commonly used)
Billing to mobile phones and landlines
Cheque
Demand Draft
Cash on Delivery
Cash before Delivery
Internet Banking
6. eBay
Introduction
India’s leading eCommerce marketplace Sale of goods and services by a diverse community of individuals, small businesses & brands eBay India (formerly Baazee.com) was launched in India in 2000
About eBay world
Founded in September 1995 More than 92 million active users worldwide Global presence in 39 markets, including U.S.
eBay India
Over 2.5 million users Across 2,471 cities in India from cities as diverse as Agartala to Tirupur buy and sell on the site
Categories@eBay India
Thousands of sellers sell on eBay India daily across 2000 categories At any given time, there are over 400,000 live listings on eBay India.
7. Home Shop 18
Network18 Group
India's fastest growing media and entertainment Group
HomeShop18
Group’s online & on-air retail marketing and distribution venture Partnered with the best brand owners, such as Apple, Motorola, Philips, Kaya, Godrej and many more
Mission
To drive India’s most comprehensive virtual business that helps customers make informed choices and extract the best value for their money
8. Indiatimes shopping
Introduction
Internet subsidiary of ‘The Times of India Group’
Features over 30,000 products for sale across a wide range of categories such as apparels, accessories, jewellery, consumer durables/electronics, books, music, movies, etc.
Recently Indiatimes shopping had tied up with Land Mark and have listed 3 Million Books of various categories
9. Thank You.
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