Online buying and selling have become important parts of many people’s lives. Virtual stores allow people to shop from the comfort of their homes without the pressure of a salesperson. Online marketplaces provide a new and more convenient venue for exchanging virtually all types of goods and services.
Online 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 application. 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 of 2020, customers can shop online using a range of different computers and devices, including desktop computers, laptops, tablet computers and 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 browser the firm’s range of products and services, view photos or images of the products, along with information about the product specification’s 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 i order to complete a transaction, such as a credit card, an interac-enabled debit card, or a service, such as PayPal.For physical products (for example paperback books or clothes), the e-trailer usually sends the file to the customers over the internet. The largest of these online online retailing corporations are Amazon, and eBay.
How does online buying work
Shopping online is just like heading out to the store. You can often but the same products online as available in a brick-and-mortar store and can sometimes score better sales.
- Finding a product-When you shop online, you have to start by searching for a product. This can be done by visiting a store’s website, or of you are not aware of any store that has the particular item you are looking for, or you’d like to compare prices between stores, you can always search for the items with a search engine and compare the results. On major retail website, companies will have pictures, descriptions and prices. If a company or individual does not have the means to create a website, sometimes sites like Amazon and Etsy make it possible for them to display products or build their own online stores for a monthly fee. Many stores also have placed virtual customer service centers on their websites, so you can either call, email, or chat with a live customer service representative if you have questions.
- Buying and receiving the product-After selecting product, the website usually has a “checkout” option. When you check out, you are often given a list o shipping and payments options. Shipping options include standard, expedited, or overnight shipping. Depending on the shipping company and your location, standard shipping usually takes seven to twenty one business days, and expedited shipping can take anywhere from two to six business days. There are typically various payments options available.
- E-Check-This payment options is just like paying directly from your bank account. If you choose to pay by electronic check, you must enter your routing and account numbers. Once this is done, the amount is taken directly from your bank account.
- Credit card-When you pay by credit card, instead of swiping your card as you would at a brick-and mortar store, you type the required credit card information into the provided fields. Required information includes your credit card number, expiration date, type of card and verification/security number, usually the last three digits on the back of the card above the signature.
Advantages of online trading
- Cost savings
- No pressure
- easy comparison
Disadvantages of online trading
- Increased risk of identity theft
- Vendor fund
Protecting yourself while shopping online
Overall, the advantages of shopping online out weight the disadvantages. That said, it is important to note that while they might be smaller in number,the disadvantages can be a major hardship. While shopping online, it is essential to protect yourself and your information.
- Invest in technology
- Be careful
- Shipping check
- The bottom line
Also make sure that your computer is well protected before you begin any transactions that involves sensitive information. Many scams on the internet can negatively affect your credit score and cost you money, so be proactive in your research to get the most out of shopping online.