WHAT IS ONLINE PURCHASE

WHAT IS ONLINE PURCHASE

WHAT IS ONLINE PURCHASE: Online purchase/shopping is a form of electronic commerce which allows consumers to directly buy goods or services from a seller over the Internet using a web browser or a mobile app.

Consumers find a product of interest by visiting the website of the retailer directly or by searching among alternative vendors using a shopping search engine, which displays the same product’s availability and pricing at different e-retailers. As in 2022, customers can shop online using a range of different computers and devices, including

  1. desktop computers
  2. laptops
  3. tablet computers
  4. smartphones.

An online shop evokes the physical analogy of buying products or services at a regular “bricks-and-mortar” retailer or shopping center; the process is called business-to-consumer (B2C) online shopping. When an online store is set up to enable businesses to buy from another businesses, the process is called business-to-business (B2B) online shopping. A typical online store enables the customer to browse the firm’s range of products and services, view photos or images of the products, along with information about the product specifications, features and prices.

Online stores usually enable shoppers to use “search” features to find specific models, brands or items. Online customers must have access to the Internet and a valid method of payment in order to complete a transaction, such as a credit card, an Interact-enabled debit card, or a service such as PayPal. For physical products (e.g., paperback books or clothes), the e-tailer ships the products to the customer; for digital products, such as digital audio files of songs or software, the e-tailer usually sends the file to the customer over the Internet.

The largest of these online retailing corporations are

  1. Alibaba
  2. com
  3. eBay.
  4. Piki.co.tz
  5. https://best.aliexpress.com/
  6. https://www.oberlo.com/
  7. snapdeal.com
  8. fiverr.com

What is online purchase common examples?

Most popular online shopping categories worldwide 2022

As of 2022, $1043 billion global internet users had purchased electronic-related products,$1001 billion had purchased fashion related product,$492.6 Billion purchased furniture products,$432.1billion purchased food products,$431.9 purchased toys, Hobby and DIY products through the internet, making apparel the most popular online shopping category worldwide.

What is online purchase purposes?

It provides a very comfortable service for its customers, by being able to save the item in the personal shopping bag, and buy it later on. Shopping through the Web simply works for people with a valid credit card, a debit card or an internet bank account. Selling direct online increases your reach.

7 Key Features Online Shoppers Demand from an Online Store

  • A mobile website option.
  • Free or competitive shipping options.
  • Advanced navigation and search functions.
  • Superior photos and image options.
  • A detailed product description.
  • Customer reviews of the product.
  • A fast guest check-out option.

Types of eCommerce (Online Store)

All 6 types of e-commerce that are used today are classified based on the nature of the transaction.

Knowing what category your business fits will help you think creatively about what your opportunities and threats might be. Therefore, you will need to familiarize yourself with each type of business model before you start your eCommerce business.

1.     B2B (Business to Business) eCommerce

B2B eCommerce can be simply defined as commerce between companies. It is two companies doing business with each other. For example, a manufacturer selling a wholesaler selling a product to the retailer, or a product to a wholesaler. Here, wholesalers, manufacturers, and retailers are all doing their separate businesses.

these businesses have custom, enterprise eCommerce platforms that work directly with other businesses in a closed environment. A B2B eCommerce business typically requires more startup cash.

2.     B2C (Business to Consumer) eCommerce

The B2C eCommerce is what most people think of when they imagine an eCommerce Store. B2C is the most common business model, so there are many unique approaches in this sector.

WHAT IS ONLINE PURCHASE, Examples of B2C eCommerce are everywhere. This includes Lazada, Wish, Overstock.com, etc.

3.     C2C (Consumer to Consumer) eCommerce

In a C2C eCommerce, consumer sells products, goods or services to other consumers. The C2C business model helps us to sell our assets or properties like clothes, cars, houses, bikes, electronics, etc. via online to other consumers. OLX, Quicker, etc. are this type of business model. Made by the rise of the eCommerce sector and growing consumer confidence in online sales, these sites allow customers to trade, buy, and sell items in exchange for a small commission paid to the site. Opening a C2C site takes careful planning.

4.     C2B (Consumer to Business) eCommerce

so we can say, A C2B eCommerce business model is a type of commerce where a consumer or end-user provides a product or service to a business or an organization. It is the reverse type of the B2C eCommerce or business to consumer model, where businesses produce products and services for consumer consumption. Here, individual customers offer to sell products or services to the businesses that are prepared to purchase them. For example, if you are a software or web developer, you can showcase your portfolio online. If a company finds you and likes your software or skills then the company will directly buy the software or website from you or can hire you for their services.

5.     B2A (Business to Administration) eCommerce

B2A eCommerce or business to administration is also referred to as the business to government (B2G) commerce. In this type of eCommerce, the businesses’ sole clients are governments or type of public administration. They market various products and services to various levels of government.

Services could be legal documents, financial in nature, deal with employment or the like.

6.     C2A (Consumer to Administration) eCommerce

Consumer to Administration can be thought of as similar to C2B (Consumer to Business) eCommerce in that, in C2A (Consumer to Administration) eCommerce, the consumer is also selling their products and services to the administrative sector.

For example, making payment of taxes, making electricity bill payments through the website government, payment of health insurance, etc are C2A type of business model.

WHAT IS ONLINE PURCHASE ADVANTAGES

Customers can purchase items from the comfort of their own homes or workplace. Shopping is made easier and convenient for the customer through the internet. It is also easy to cancel the transactions.

Why shop Online

  • Saves time and efforts.
  • The convenience of shopping at home.
  • Wide variety/range of products are available.
  • Good discounts / lower prices.
  •  Get product details and information.
  • We can compare various models/brands.

No pressure shopping

  • Generally, in physical stores, the sales representatives try to influence the buyers to buy the product. While in online shopping, you’re free to do as you will.

Online shopping saves time

  • Customers do not have to stand in queues in cash counters to pay for the products that have been purchased by them. They can shop from their home or workplace and do not have to spend time travelling.

Comparisons

  • There is a wide range of products online. The sellers display all the stuff they’ve got. This enables the buyers to choose from a variety of models after comparing the finish, features, and price of the products on display.

Availability

  • The mall is open on 365 x 24 x 7. So, time does not act as a barrier, wherever the vendor and buyers are.

Online tracking

  • Consumers can track the order status and delivery status tracking of shipping is also available.

Online shopping saves money

  • Therefore, to attract customers to shop online, e-retailers and marketers offer discounts to the customers as they have cut down on real estate and maintenance cost the sellers won’t back out in giving huge discounts.

DISADVANTAGES OF ONLINE SHOPPING

Ease of use is the prime reason that drives the success of e-commerce. Though the internet provides a quick and easy way to purchase a product, some people prefer to use this technology only in a limited way. Some people also fear that they might get addicted to online shopping. The major disadvantages of online shopping are as follows.

Delay in delivery

  • Long duration and lack of proper inventory management result in delays in shipment. Though the duration of selecting, buying and paying for an online product may not take more than 15 minutes; the delivery of the product to customer’ s doorstep takes about 1-3 weeks.

Lack of significant discounts in online shops

  • Physical stores claim to give significant discounts when compared to online stores, this is a huge disadvantage for the older generation.

Missing the shopping experience

  • The traditional shopping exercise provides a lot of fun in the form of showroom atmosphere e, smart sales attendants, scent and sounds that cannot be experienced through a website. Indians generally enjoy shopping. Consumers look forward to it as an opportunity to go out and shop.

Frauds in online shopping

  • Sometimes, there is a disappearance of the shopping site itself. In addition to the above, the online payments are not much secured. The rate of cyber crimes has been increasing and customers’ credit card details and bank details have been misused which raise privacy issues.