Internet Shopping Is the High Street Store Doomed - Coursework Example

The paper shows that despite levels of internet access leveling off over recent years, the number of people shopping online has increased considerably. However, issues such as payment security and lack of awareness of consumer rights continue to deter a significant amount of people from shopping online.
Amazon.com (NASDAQ: AMZN) seems to sell just about every possible category of retail goods under the sun these days, as the venerable online e-tailer has expanded from books only to car parts, electronics, groceries, and even pet supplied. With that said, most of these categories are products. Well, how about services? Why doesn't Amazon.com sell them? Or at least, allow third parties to sell services at the website of the world's largest online retail shopping site? (Blogging stocks).
The use of the Internet for purchasing goods and services has enormous potential. The Internet enables consumers to shop or do transactions 24 hours a day, all year round from almost any location. It also provides consumers more choices and allows them to have quick comparisons. Moreover, it allows consumers to interact, exchange ideas, and compare experiences with other customers in the electronic communities. Though the Internet offers a range of advantages that collectively have been shown to be important enough to attract massive interest, recent surveys demonstrated that the penetration rate of Internet shopping remains low.
According to the online industry body, Interactive Media Retail Group, internet shopping sales rose from £300m in 1999 to £14.5bn in 2004.
This trend looks set to continue. According to market analysts Verdict, online shopping was the quickest growing retail sector last year. In fact, the shift away from the high street has even extended to shopping through television, with an explosion in the number of television shopping channels.
Internet shopping is more than just being able to buy CDs and DVDs. People who shop online are able to do their food shopping online and have it delivered to their homes. They also buy products like holidays, insurance, and investments at cheaper prices than the high street.
Shopping online brings many benefits which the high street is unable to bring, including:
• Choice – Online shopping offers easy access to a wider range of products than the high street, and consumers are able to shop around more easily for the best deals.
• Convenience – Online shopping can save time and items can be delivered to the doorstep.
• Value for money – Many companies offer free delivery and often statutory rights are enhanced to cover the right to return or exchange items within 7 days, which sometimes is not offered to high street shoppers.
• Accessibility – For people without cars, the young, old, and people with mobility problems, the internet can help people to access the best high street deals even if they cannot get to the high street.
However, there are some issues that continue to deter some people from shopping online, including concerns about payment security, and a low level of understanding of online consumer rights.