More than ever before people are moving away from using cash in shopping. For example, a research done by Walker Sands Communications showed that only one person in four used cash to pay for the products bought. Instead of using cash, many people are using electronic shopping.
What is electronic shopping?
This is a form of shopping where people purchase goods or services on the internet without visiting physical stores or leaving their homes. If you want to buy anything, you only need to visit your favorite online store and make your purchase. Instead of using cash to pay for the product, you use a credit or debit card.
Benefits of electronic shopping
There are a number of benefits that come with electronic shopping. One of the advantages is that you don’t have to leave the comfort of your bed for you to make a purchase.
This is because all you need to do is to login into your favorite online store and place an order. Once you have made the order, the product is delivered to your doorstep within a few hours or days.
Another advantage is that you don’t have to worry about losing your money especially when making large purchases. Unlike when you would feel insecure carrying large amounts of money to purchase a product in a physical store, this is not the case with electronic shopping.
With electronic shopping you only need to load your card and then make a purchase.
Electronic shopping allows you to access high quality products. This is because the online stores present you will all the products that are in stock and you are allowed to choose the product that pleases you the most. Since you are given time to research, you easily choose the highest quality product in the market.
Challenges facing electronic shopping
While cashless shopping comes with the above advantages, it faces a number of challenges:
One of the challenges is consumer trust. Due to the many stories about internet scams and identity theft, consumers are unsure of how to safeguard their information while at the same time enjoying the benefits that come with online shopping. Due to lack of trust, many conservative consumers are shying away from online shopping.
Another challenge is language barrier. Due to the cost that comes with creating online stores that cater to people from different countries, many small businesses are unable to expand into foreign markets.