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Shopping
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Monday, 09 November 2009 00:11 |
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Online shopping is the process consumers go through to purchase products or services over the Internet. An online shop, eshop, e-store, internet shop, webshop, webstore, online store, or virtual store evokes the physical analogy of buying products or services at a bricks-and-mortar retailer or in a shopping mall.
Benefits of online shopping
- Bargaining power of consumers. They enjoy a wider choice
- Supplier power. It is more difficult for consumers to manage a non-digital channel.
- Internet increases commoditisation
- Threat of new entrants. Online means it is easier to introduce new services with lower over-heads
- Threat of substitutes
- Rivalry among competitors. It is easier to introduce products and services to different market
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