E-CONSUMER BEHAVIOUR: Past, present and future trajectories of an evolving retail revolution

A REVIEW ON RESEARCH PAPER E-CONSUMER BEHAVIOUR: Past, present and future Trajectories of an Evolving Retail Revolution

23 February 20151Presented By:AKANKSHA ARCHITMALVIKAMASRUR

Research paper on e consumer behaviourINTRODUCTION23 February 20152Research paper on e consumer behaviour Shopping online has emerged as one of the most popular Internet applications Initially the selling focus was on durable, non-food items such as books, but now a days almost any product can traded on-line It is not surprising then that the major retailers have capitalized on that selling format For example: in the UK Tesco was the first grocery retailer launch this facility in 1996The paper was examines the past, present and future of e-consumer behavior 23 February 20153Research paper on e consumer behaviour Objectives of PaperIs to shed further light on the past and present status of the e-consumer phenomenonBy looking into online shopping behaviour and by examining the major reasons for being motivated or de-motivated from buying online, focusing on the trust element

23 February 20154Research paper on e consumer behaviourLiterature Review23 February 20155Research paper on e consumer behaviour In 2000 these are the following findings by Morganosky Cude are :The majority cited convenience and time saving as their primary motivation for buying groceriesShopping online appears to be the most advanced leading edge technology in grocery shoppingOnline grocery seem to recognize and value differences between the online shopping experience and the in-store shopping experience23 February 20156Research paper on e consumer behaviour In 2001 these are the following findings by Lee Turban: The parameters that may effect consumer trust in internet shopping include:Credit card loss assurance policiesProduct warranty policiesPolicy on returned merchandiseAbility to schedule customer service session23 February 20157Research paper on e consumer behaviourRESEARCH METHODOLOGY23 February 20158Research paper on e consumer behaviourPast review on Internet consumer shopping Rowley (1998) states that the Internet shopping experience has become a challenge for Internet retailers that need to ensure success at each stageFocusing on the demographic element of the e-consumerMintal (2000, 2003) reports that the UK Internet user is predominately male, aged 20-30 and has an AB socio-economic backgroundThis study done by the Rodger and Harris in 2003 23 February 20159Research paper on e consumer behaviour Browsing & Product Experience

Selection & Ordering

Security & Payment

Delivery

23 February 201510Research paper on e consumer behaviourPresent review on Internet consumer shopping 23 February 201511Research paper on e consumer behaviourPresent review on internet consumer shoppingThe research indicated that 70% of the surveyed online consumers do not trust unknown companies and delete suspicious emails from unrecognised sources Online consumers were concerned about cyber crime and are still concerned about online privacy and security Unavoidably, these concerns lead to changes in online behaviour with online consumers preferring to shop from recognised retailers which have already worked on how to increase online consumer confidence 23 February 201512Research paper on e consumer behaviourFuture review on Internet consumer shoppingJones and Wijayasarathy (1998) suggest that electronic shopping has the potential to radically alter the structure of shopping behaviourForsythe and Shi (2003) believe that the Internet represents a fundamentally different environment for retailing from traditional retailing mediaHowever, any radical transformations would have required new approaches to Consumer Behaviour and Attitude and one could argue that improvements and electronic evolutions of existing shopping mechanisms are not enough 23 February 201513Research paper on e consumer behaviourFINDINGS AND ANALYSIS23 February 201514Research paper on e consumer behaviourOn the basis of past review, it was analyze that women were less emotionally satisfied with Internet shopping than men Because that emotional bond with the retailer is not evident in a virtual environment On the basis of present review, almost half of these 46% had concerns about theft of information Similarly, 70% of the surveyed online consumers do not trust unknown companies 23 February 201515Research paper on e consumer behaviour CONCLUSIONThe current paper has suggested a conceptual framework illustrating an online retail revolution in connection with consumer trust and e-consumer behaviourWhether these changes justify a claim that there has been a radical transformation in retailing or that these changes were just the natural evolution of retailing, due to technological advances, is something that can be debatedThe authors consider this revolution to be very useful to business managers and other stakeholders such as consumer bodies and associationsFor example, retail managers should pay further attention to the trust element and should still differentiate their strategies by developing trust-building programs with consumersConsumer bodies and associations should also take into consideration the proposed arguments, especially the one related to the future state of the revolutionWe believe that they will find these points extremely beneficial in order to protect and guarantee the welfare and well-being of their members and to minimise their possible exploitationLast but not least, further work is required to confirm / disconfirm our findings, including further empirical research work with retail managers and consumers The recommended revolutionary process in connection with the trust element requires further attention whilst the possible application of this revolution to other online firms, not just retailers, could form another investigation23 February 2015Research paper on e consumer behaviour17LEARNINGTo improve shopping, respondents of this survey most often asked for easier processes for locating products / services, along with improved visuals / graphicsThere is a need to profile the online shopper using more sophisticated psychographic measures such as shopping orientations, rather than relying solely on demographicsConsumers cite fear that credit card details will be stolenAlthough certain things have improved, e.g. delivery, there is still substantial room for improvement Key information is often lacking, e.g. failure to disclose whether a product is in stock Returning goods and getting a refund was often problematic

23 February 201518Research paper on e consumer behaviour REFERENCESAnon [A] (2002). Converting Web users to Web shoppers. Strategic Direction 18(4) 1012.Anon [B] (2002). Internet users weigh in worldwide: a new report finds that even though more Internet users plan to buy online this year, security is the highest concern for Web shoppers worldwide. Direct Marketing 65(6), 2836.Brown, D., Oleksik, G., & Bisdee, D. (2007). Consumer attitudes review, Internet shopping Annexe E. Prepared for the Office of Fair Trading, Crown Copyright.Finextra (2006). Security fears scare off US customers from online banking, shopping. Retrieved July 17, 2007, from: http://www.finextra.com/fullstory.asp?id=16204Fletcher, W. (1999). Buying the groceries via home shopping is not a fresh concept. Marketing (May), 1617.Forsythe, S.M., & Shi, B. (2003). Consumer patronage and risk perceptions in Internet shopping. Journal of Business Research 56, 867875.

23 February 2015Research paper on e consumer behaviour19Fram, E.H., & Grady, D.B. (1997).Internet shoppers: is there a surfer gender gap?. Direct Marketing 59 (9), 46 51.Girard, T. Korgaonkar, P. , & Silverblatt, R. (2003). Relationship of type of product, shopping orientations and demographics with preference for shopping on the Internet. Journal of Business and Psychology 18(1), 101120.Jones, J.M., & Vijayasaratgy L.R. (1998). Internet consumer catalog shopping: findings from an exploratory study and directions for future research. Internet Research: Electronic Networking Applications and Policy 8(4) 322 330.Koyuncu, C., & Bhattacharya, (2004). The impacts of quickness, price, payment risk, and delivery issues on on-line shopping. Journal of Socio-Economics 33(2), 241-251.Lee, M.K.O., & Turban, E. (2001). A trust model for consumer Internet shopping. International Journal of Electronic Commerce 6(1), 7591.Leonard, K. (2005) .Its not shopping cart abandonment, its comparison shopping. Retrieved July 17, 2007, from Internet Retailer Web site: http://www.internetretailer.com23 February 2015Research paper on e consumer behaviour20 THANK YOU23 February 201521Research paper on e consumer behaviour