Apr 08, 2020
Online shopping is the innovation in traditional shopping through the induction of technology and different advancements. The advent of internet and smartphones have proved to be very beneficial for every industry as it has revolutionized it. There are many factors like the especially internet banking and smartphones which has made it possible to convert the concept of online shopping into reality. According to Business Dictionary online shopping is defined as “Online shopping is the activity or action of buying products or services over the Internet. It means going online, landing on a seller’s website, selecting something, and arranging for its delivery”. Some online stores offer different options for payments like advance payment through credit card or debit card and some offers the cash on delivery facility to engage customers. Few online shopping giants also offer money-back guarantee over the period of one week to one month depending on the nature of product or service. But certain products are excluded from this guarantee for instance frozen food items and other delicate products.
Physical shopping is the traditional way of shopping in which buyers have to go to the market or shop physically. After this, they have to search for their required product(s) in the whole market, and then they have to bargain to get their desired price. This type of shopping enables the buyer to get the required product at their desired price which is sometimes less than the marketplace. The buyer has much variety of products of the same type to choose from them. Furthermore, the buyers can get much variety of the product in different qualities which can suit their need in the budget. In case if we are buying clothes or shoes then we can check them on spot and select the best suitable product for us. In this type of shopping, personal preferences also play a significant role as it results in gaining some personal benefits which otherwise are not possible. The people who don’t know how to use smartphones and the internet prefer to shop physically.
There are many prerequisites which we need to be complete before starting an online business. The first requirement is the presence of a company on the internet through its own dedicated website equipped with all the modern features while fulfilling all the requirements. After this website should support the E-commerce functionality along with a separate online store for displaying all of their products and varieties. Besides these requirements, the company should have their warehouses all over the country to provide their services at the minimum cost as possible. The online stores also require some distribution network for dispatching their products in their service providing area. If the company provide a large range of products then they can have their own dispatching team otherwise some online stores outsource this department on a contract basis to the courier service providers. The last but most important requirement for this business is the trustable payment gateway to receive the payments. In this case, if the online store has a big business and spread across a large area then they can use international payment gateways for receiving payments like Paypal etc. Some online stores also accept payments through credit card or debit card. Whereas some online stores give the cash on delivery option to their customer to enhance their confidence. This system works best when the company has its own dispatch team for deliveries.
Some of the online stores which have a large business have dedicated customer service centers and representatives for dealing with customer complaints and queries. This service is considered as the auxiliary in the early days but now it is a complementary part of the online stores and service providers. This customer service and care centers add many benefits to the overall profile of the company and enhance the customer’s trust.
After fulfilling these requirements, there are some other requirements which are imposed by the government in order to regularize the different business in the country. Companies have to register themselves in their relevant authorities in order to work freely in the country according to law. For this purpose, they have to pay different fees and taxes i.e. income tax, sales tax, and other taxes as a result of their business.
There are many benefits of online shopping as compared to physical shopping. The main advantage of online shopping is that it has made possible the availability of all products under one roof i.e. all the products are just a click away from the user. Secondly it is time-efficient i.e. we do not have to look into the whole market to buy the specific product. We just have to visit the particular website and enter the required product details feature and the website automatically gives the list of all products which matches those specifications. Another benefit of online shopping over the physical shopping is that we don’t have to go to market place for the product instead the website or service provider delivers all the products to our doorstep in reasonable cost. That is why it is more convenient for working women and ladies who cannot go outside the house premises. These online websites provide many diverse payment options like payment through credit or debit card as well as cash on delivery. It saves us from carrying the bulk amount of cash which is a security risk at some times.
Another major advantage of online shopping is that it is not a region or area bound. It can attract customers from all around the globe and can sell their products all over the world. In simple words it can be said that virtually online store business is limitless and can extend on global level with the help of global distribution system.
From a business point of view, having online store as compared to the physical store is more beneficial and economical as it costs less because it does not require physical store which has more expenses from managerial point of view in simple words it is a very budget-friendly business approach.
The major drawback of online shopping is that some people want to see the product in their hand before purchasing to satisfy themselves which is not possible in case of online shopping. The illiteracy and ignorance from modern technology i.e. how to use smartphone and internet are the major drawback in their proper functioning. As if the person is unable to use smartphone then we cannot persuade him or her to shop from the online store. Due to lack of education and illiteracy, most of the people are out of the banking network which restricts the use of online shopping as they require bank accounts and credit or debit card for payment.
There is some managerial issue in the working of online issues as they require the presence of warehouses at a suitable distance for providing their services in the shortest possible time and it also reduces the delivery cost for each product. But the presence of every warehouse is expensive as it requires large space for storage and managerial staff for carrying out operations. Some people are also scared of coming across fraud from these online shopping stores as they can send low-quality products against the original price which cannot be reclaimed if the company rejects to accept it after sell. Hackers can also steal bank related information like credit card or debit card numbers and the password which can be used for any purpose if the website security is weak or compromised through any mean.
In our country, the online shopping business has to travel a long way before setting their foot in the Pakistan economy as there are many challenges for them which limits their working efficiency. In the country like Pakistan where a majority of people are out of the internet service area and most of the population does not know how to use smartphone. So it creates the barrier in their operations. Public perception of online shopping is not very good in Pakistan as there are some cases reported in which some online companies have send substandard products to their customers which has made very bad image for them and it needs to be cleared at any cost so that they can work efficiently.
But in Pakistan, the majority of the population is young i.e. they range from 15-30 and they are aware of the good and bad uses of the internet. They are also mobile-friendly especially the smartphones. They are also aware of the internet and the concept of online shopping is not new for them. So there is a major chance that if they are approached in the perfect way then they can become potential customers in future. So in future it can be predicted that online shopping business will flourish in Pakistan so it is a good time to invest in them and it will result in large profit margins in future.
There are many good online stores which are providing their services in Pakistan like farosh.pk providing a large quantity of quality product across all the categories like fashion, men, woman and children clothing, mobile phones, laptops, and other related accessories. Their website is perfectly designed and has a user-friendly interface which makes it easier to use. They also have the latest and amazing deals throughout the year to attract more clients. Their prices are also market competitive. So what are you waiting for? Enjoy amazing deals at farosh.pk !
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