Ecommerce unaffected by ecomomic woes
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This positive thought may be the result of a change within shopper behaviours, resulting from the recent economic difficulty: people turn to the internet for their shopping needs.
PriceGrabber.com(R) in a study on the impact of a tough economy on holiday shopping in its latest Consumer Behaviour Report shows that sixty-one percent of consumers expect to make a concerted effort to cut back this holiday season. Ninety-seven percent of survey respondents expect to do some purchasing online this holiday season. Fifty-five percent plans to purchase more than half of their holiday gifts online this year, a 10 percent increase from last year. Thirty-seven percent say that online shopping appeals to them because it is "easier to compare products and find the lowest price." Twenty-four percent favour the "convenience of shopping anytime and anywhere."
Past results from Forrester Research shows that 81 percent of online retailers surveyed reported that their e-commerce businesses were profitable in 2007. Because of this, the internet marketing bug seems to be spreading to more businesses. According to the Office for National Statistics (ONS) survey, 70.3 per cent of businesses today have a website.
Malcolm Pinkerton, Verdict's senior retail analyst states "As the cost of broadband falls, consumers become more accustomed to internet shopping and retailers continue to enhance their online propositions. This channel will find itself extremely well placed to capitalize on falling consumer confidence and lower levels of disposable income currently [affecting] the retail market."
This means more people are now able to use the internet as means of shopping. Shopping online gives numerous advantages for shoppers, the primary of which is convenience. Internet gives shoppers the ability to browse and compare product prices at any given time of the day, as online retail stores are open all the time, without leaving the comforts of their homes. It also gives the shoppers opportunity to buy as much as they could without worrying how to carry them, as online retail stores provides delivery services. No more worrying over parking spaces, falling in line, or crowded shops.
A UK study found that one of the main causes of an increase in online shopping was due to people in the 40 - 50 years age group, having more trouble accessing shopping centres due to limtied transport availability. Consequently they are starting to use the Internet more for their own online shopping.
With the coming holiday shopping rush, despite the spreading financial crisis, online retail stores' sales continue to rise. In fact, according to Ed Garrubbo, chairman of the Electronic Retailing Association, the looming recession may actually contribute to e-commerce because cautious consumers are doing more research and comparison shopping online before making a big purchase.
Article Source: Articlelogy.com
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