FINANCIAL LITERACY TEŠ - ppt - Buying online

PROS AND CONS OF BUYING ONLINE

Tena Pavlović 3.c

PROS OF BUYING ONLINE • Buying online advantages include stores offering no shipping charges and free ship-to-store options • A lot of online stores do not pass on sales tax (unless required by the state) to customers, which can add up to substantial savings for those shoppers who buy primarily online

• Other advantages of shopping online include: » » » » » »

The stores are almost never closed Shoppers can shop in their pajamas Online shoppers save on gas There are no parking hassles There are no annoying crowds Online shoppers do not have to wait in long lines to check out » Many online retailers allow shoppers to post reviews about the products that they purchased » There are more choices for buying refurbished products » Many online stores sell products at really low prices because of the lack of money spent on overhead( Local stores have operating costs like rent, water, heat that are figured, at least partially, into the markup of the products)

CONS OF BUYING ONLINE • Communicating dissatisfaction can be difficult online and often takes enormous patience and tenacity to achieve satisfaction

• Problem-solving face-to-face with local store employees is often faster and more satisfying • Contacting the next level of management is much easier at local stores than online

• Other disadvantages of shopping online include: » Online shoppers do not have the ability to physically inspect or try on the items being considered for purchase » Online shoppers sometimes lose the power to negotiate the price and payment terms that may exist in local stores » Items ordered online are sometimes back-ordered, but shoppers may not find out until weeks later » Online shoppers do not always know if a site is a legitimate retail store and if is safe to shop » Restocking and shipping costs are often charged on returns » Online shoppers often do not have a person (or the same person) to talk to when dealing with a problem » It is sometimes easier to get money refunded locally when the item purchased drops in price within the guaranteed price period

USING SMARTPHONES FOR SHOPPING • smartphones are the top choice of device for customers when online shopping • The advancements over the last few years in mobile banking and in-app purchases have all led to the facilitation and increased confidence in purchasing on smartphones • This does not spell the end of other devices being used for online retail purchases ( for example, during standard working hours, a higher proportion of sales come through desktop as people are sat in front of their computers at work)