The Changing Landscape of Shopping

 
Crossing the browser-to-buyer divide lies in developing a multi-channel ecommerce strategy that connects with your prospective customers anywhere and everywhere they spend their time. (Image from google) Since 2009, the 11.11 sale is Alibaba's answer to Black Friday. 1st Meaning of 1111: Pay Attention to Your Thoughts as an Opportunity Portal is Opening Up For You. (Image from google)
The emergence of the Internet has prompted enormous changes in consumer behaviour. Increasing numbers of consumers are using electronic commerce (e-commerce) to shop for products and services. However, despite the accelerated spread of e-commerce, there are significant differences in growth, penetration and adoption of the Internet as a viable alternative to traditional shopping at a global level.

The next five years will see the behaviour of consumers changing rapidly to suit the environment and the ever changing digital world, with the further blurring of the line between work life and personal life.

The E-commerce Revolution

The internet has revolutionised the way people shop. From Amazon's Prime service, to grocery stores offering online ordering and delivery or store pick-up, the retail landscape has changed and so have brick-and-mortar shops and delivery methods.

While technology has enabled this e-commerce boom, the failed deliveries also highlight the physical machinery and infrastructure on which online shopping relies – the planes, the warehouses and the trucks.

An individual’s distinction between online and traditional shopping has become blurred in recent years. Consumers are no longer seeing each as a separate transaction but an extension of their shopping experience. How often would you say, when seeing a product in store, “I wonder if I can find it cheaper online or perhaps I’ll order that online but get it delivered to the store?” These interacting transactions between store and online platforms give you the chance to engage with a full shopping experience commented by Deputy Head School of Business.

The Internet Shopping

Malaysia has the highest penetration of online shoppers (67% of Malaysians online), followed by Thailand (57%) and Singapore (52%). Among Asean countries, Singapore is the biggest retail e-commerce market with 24%, then Malaysia and Indonesia at 19%.

Today the whole world is facing an "electronic" change affecting the way people communicate as well as transforming the entire value chain from producers and retailers to consumers. Traditional exchanges between individuals and firms have been revolutionized as Internet shopping is becoming a well-accepted way to purchase a variety of products and services.

The final quarter of 2018 is beginning soon and along with it comes Malaysia’s most vital online sale periods. This includes the 11.11 (also known as Singles Day), Black Friday, 12.12 Sale and other year-end sales. This is e-commerce’s most crucial period as revenue and online traffic is set to double during the sale festival.

Most offline and online shops will offer massive discounts or bundled packages at attractive prices. The shopping rush started at the stroke of midnight, when shoppers started grabbing the great deals and promotions. 

Generation X are the most active online shoppers

Among the different age groups, Generation X consumers (born between 1966 and 1981) made more online purchases last year than any other age group, averaging nearly 19 transactions per year. Interestingly, despite the common belief that the upswing in online shopping is largely driven by the younger and more ’tech-savvy ‘Millennials (born between 1982 and 2001), Generation X consumers in fact made 20 percent more purchases last year than their younger counterparts. Stage of life and income levels are certainly primary factors driving both online and offline shopping, and Generation X consumers, many of which are more established in their careers and building homes.

To avoid regretting their expenditures, Xers won’t purchase a product until they’ve researched it thoroughly, which is why they make extensive use of search engines, online reviews, and social media networks before making a purchase. That being said, having any doubts about product performance will easily dissuade them from their buying journey according to Mr Ng.

Malaysian Are Still Cautions about Disclosing Credit Card Information Online 

Emerging e-commerce capabilities such as grocery list apps and tolls and discount alert apps are beginning to gain traction across the region. However, credit card security remains a key concern across the region with five of the six Southeast Asia markets ranking above the global average with respect to their concern around providing credit card information online.

However despite being one of the best countries in terms of online shopping there are still flaws and cons that hinder the shoppers. One of the other reasons being the unreliability that is receiving a Large T-shirt while you have ordered for a medium one. The ultimate reason being the transport or shipping factor, why would a person want to wait for two or three days while one can buy the same thing from a store or showroom nearby. However, convenience is something that you just can’t ignore when it comes to online shopping.

“Consumers who perceive that e-commerce is easy also perceive that using the Internet to shop is beneficial, improving the outcome of the buying task by making it more efficient and quick (perceived usefulness)” mentioned by Mr Ng Chin Hooi, Deputy Head School of Business.

KDU University College offers, Bachelor of Business (Hons) programme addresses this by equipping students with a general business degree, as well as interdisciplinary knowledge and skills in specialised subjects through 5 key business areas, allowing them the freedom to tailor their degree according to their interests in the specific area specialization in marketing and e-commerce.