The plastic money especially credit card has to create a lot of impulsive buyers. Credit facility provided to the customer is another trap which tempts the customer to spend more above their capacity and to add on we have online shopping which boosts the temptation further. We all know how an online shopping website works.
Online shopping addiction, impulsive buying, financial planning
The process of searching for and purchasing goods and services over the Internet is called online shopping. The main allure of online shopping is that consumers may find and purchase items they need without leaving their houses. Today, almost anything can be purchased online, amounting to billions of dollars a year in sales.
Positive effects of online shopping
Ever since the internet became a part of our lives, there has been a swift increase in the number of online shopping sites. The changes in the definition and the concept of shopping have had a huge impact on our society and economy. This is an unavoidable part of progress, technically and socially.
There are many positive effects of online shopping. Today, going out to malls or shops have reduced as online shopping permits us to shop from the comfort of our homes. We save on time and effort in going shop to shop looking for something that is to our liking.
With online shopping, products are just a click away! Sites are functional 24×7, which means that we can shop at any time of the day. They offer a great variety and huge discounts due to fewer infrastructure costs.
Online shopping websites have been a boon to the IT industry. It helped create job opportunities for analysis programmer, database administrator, security programmer, web designers etc. Courier services have also greatly benefited with the rise of the online shopping industry.
Negative effects of online shopping
With the numerous changes in the approach of sellers, there has been a huge impact of online shopping on the economy. The most crucial negative effect of online shopping has been on the environment.
The amount of non-recyclable materials that come with products ordered online like bubble wrap, foam -rubber and expanded polystyrene add to the ever-increasing garbage. Also, high shipping costs often act as an additional burden on the end consumer. There are chances of the product being damaged during transit that leads to replacement and general loss of time.
Fraud during online payments often acts as a huge pain point in online shopping. If the payment mode is not secure, making online payment through debit or credit cards might be an insecure mode of transaction. It is important to use secure gateways of payment.
There may be the incidence of billing errors is high and if you encounter one, you will again have to follow a long procedure and wait for several days before the error gets resolved.
Online shopping has taken over a huge market share today and with more and more brands and sellers moving online, it will only get more popular!