“There is widespread belief that price considerations are the overriding reason for purchasing online.
However, for time-pressured consumers, the ability to do their shopping when convenient is likely to outweigh both cost and the time needed to gain experience using the net...”By 2002, consumer online shopping will have exploded to $5bn, compared to $111m in 1997.
Traditional “pure play” companies must consider their future online presence now, or risk being left behind in the race to serve the eConsumer.The type of products consumers have been most commonly purchasing online, have been largely mass-produced low-touch products, such as books and CD's.
However as technology improved and payment methods became more sophisticated, e-tailers are developing improved ways of representing and fulfiling consumer expectations of high touch products such as cars.B2C eCommerce: Opportunities and implications to 2005 investigates which products and services are likely to prosper most as the eCommerce revolution continues to accelerate.
It also examines the level of mistrust surrounding online shopping, the key reasons preventing consumers from shopping online and sugggests how retailers andfinancial institutions are attempting to overcome these barriers.