Online Shopping – The Economical Activity of Buying and Selling

Online Shopping – The Economical Activity of Buying and Selling

21 February 2021 Off By Adam Jones

Shopping is an economic activity by which a consumer browses through the various available products or services offered by one or several retailers with the intention to buy a suitable choice of them at a good price. It also involves the process of comparing the prices of the same item and choosing the one that fits your budget exactly. The basic purpose of this economic activity is to acquire the item at its discounted price with the intention of reselling at a higher rate to earn a profit. The major means used to perform this economic activity are: to visit shopping malls and local markets, buying directly from manufacturers or distributors, using electronic means like internet, mobile phones, etc.

In the case of online shopping the role of the retailer or shopper is very simple. The retailer is responsible for collecting all the required information about the product or items to be bought, reading the descriptions written on the product’s page and deciding what to buy. All these steps are completed within a span of few seconds and a buyer can make purchases from the comfort of his home by paying via credit cards or electronic transfer methods. Retailers generally have their own websites with detailed product description, price lists, pictures and images of the items for sale. They may also provide other related services like email marketing to build up a long-term relationship between the buyer and the retailer.

Many home-based retailers started as small enterprises or individuals, either by necessity or desire. They began as self-employed entrepreneurs who used their personal assets and savings to launch their new business. These retailers were known as ‘mom and pop’ shops until they began to attract customers by offering innovative products, better prices and services that made shopping more convenient and enjoyable. Online shopping has brought more consumers into the stores of well-known retailers and reduced the costs of running such a business. The main reason for this is that there are now millions of shoppers who do their shopping from their homes.