Advantages and disadvantages of Online shopping
The concept of the world being a global village is known to everyone today. The people of the world connect with each other within a matter of seconds with the biggest invention of mankind- the internet. It has not only removed the regional boundaries but has also dismissed the long process of postcards or writing letters to people sitting in foreign lands. Now, technological advancements have given birth to a virtual world. This world consists of everything and possesses the capability to connect everybody. From online communication to sending gifts to online shopping, the virtual space connects people all around in the most effective way. One can shop for food, clothes, land, cars, home or even get admission in schools or colleges online. All these expansions of the online world have given wings to the human possibilities to reach places piles away.
Online shopping, in simple terms, can be defined as the process through which any person can shop virtually anywhere. It is with the help of an e-commerce process in which the consumers are allowed to make a direct purchase of any type of goods or services. The purchase is generally made through a certified seller, who markets his products with the help of a web browser.
Advantages of online shopping
Online shopping has been growing ever since its conception. However, in recent times, when everything has got shut, and there is a huge risk to go out in the market, online shopping has come out to be a life-saving solution. It is with the help of online present websites that people are placing orders for their daily needs. The list of shopping items constitutes the smallest of the kitchen spices to the clothes to even the laptops or other electronic gadgets. The dependency on online shopping has increased significantly over the years. Following are a few of the advantages of online shopping.
One of the biggest advantages of online shopping is that the buyer does not have to wait for the parking or stand in ques. He can simply place an order online and pay for the things. The entire process of selecting, buying, and paying can be done through the medium of online websites only. This saves a lot of time which a person has to spend while going to the market and traveling from one place to another.
Along with saving time, the online shopping method saves a lot of energy also. It helps a person to sort his shopping list sitting in one place. It even saves a person from getting exhausted from the continuous shopping process.
Everything is available in a matter of seconds
The process of shopping online does not take a long time. As already mentioned, it saves a lot of time, and it even allows a person to check out in a few minutes only. Once a person has shortlisted an item, he just needs to make the payment for the same, and the order is placed. The same product gets delivered to his address in a stipulated time.
Thousands of choices for the same product
In addition to saving time and energy, online shopping gives a person a number of options. The various e-commerce websites come with multiple filters, which allows the customer to bifurcate his choice of products, and the system produces a list of the results. This way, it gets easy for the consumer to choose the set of products from a huge variety. Along with this, the various competition lines that are present for one brand further increases the options for the buyer. He can hold on to his purchase at one site while surfing the options on the other.
The increase in competition has resulted in producing a number of deals for the buyer. Every day, various websites give multiple deals to their users. These deals are based upon the data collected by the website about the likes and dislikes of the user. Thus, the deals almost strike straight to the interest of the users.
No time limit
One other advantage of online shopping is that it does not limit the buyer to any time frame. One can anytime shop for his products depending on his convenience and place an order for the products or services he needs.
Disadvantages of online shopping
In addition to the advantages of online shopping, there are few disadvantages also. These are listed below:
Uncertainty of the quality of the product
The concept of online shopping is virtual, which means the consumer cannot touch or feel the product he is going to buy. He has to go with the authenticity of the brand he is making a purchase for. This means that the quality of the product is always doubtful. Therefore, it is suggested that one should always place a product of the recognised brands from the online websites. Also, one can visit the company websites of the brands and make the respective purchase directly.
High possibility of the wrong delivery of products
The chances of human error are high in the case of online shopping is high. The errors are generally in the form of wrong delivery of size, colour, or even the entire product goes wrong. There have been many cases where the websites have wrongly delivered the products of their customers to the wrong address.
Many websites do not return or exchange
Online shopping does not guarantee the accuracy or the quality of the product. Therefore, it is very important for online shopping websites to have the arrangement of return and exchange. It gives the buyer the flexibility to choose the product of his choice in replacement for the product he has already paid for.
Risk of online scam
E-commerce websites come with a risk of the misuse of the money paid by the buyer. There can be times when the buyer pays to the brand, but it goes somewhere else due to the hacking bug. Otherwise, also, there are many websites that are not credible, and they carry out fraudulent practices. Therefore, trusting the very platform of e-commerce websites is a question in itself.
No power in the hands of the buyer- no bargaining power
In the case of online shopping, the price of the product is fixed. There are simply no chances for the buyer to propose his side of the bargain. He does not hold any say in finalising the payment of the product. He has to pay whatever is mentioned on the page. This refrains the buyer from his fundamental right to bargain for the price of the product.
Malaysia e-commerce consumer and industry analysis
The e-commerce industry of Malaysia is growing rapidly, which can be credited to the statistics produced by the country’s statistics department. Also, Malaysia has been recognised as the fastest-growing e-commerce market in the entire southeast Asia region. The country experiences 85.7%, the highest internet penetrations, and 140% as its mobile penetration. In the respective region. Additionally, the country’s e-commerce is expected to grow rapidly in the times to come.
Adding on, as per the latest reports, the country is set to experience a market of 3.91 billion U.S. dollars in the year 2020 alone. This is surely a very positive figure which is attracting even more consumers and business investors in the market of Malaysia.
As per a research firm named Forrester, the online retail market of Southeast Asia is expected to experience a compound annual growth rate of 23%. This means that the market will touch the whooping numbers of $53 billion by 2023.
This clearly signals that the e-commerce market of Malaysia is grooming to an advanced level. In fact, many companies from across the world are investing in the online market of Malaysia. In recent years, Malaysia has emerged as one of the mature spaces in the markets of ASEAN countries. It was after Woocommerce sellers got more power, companies like Shopee, Tokopedia, Amazon, Lazada, e- bay, among many others, bagged the title of Malaysia e-commerce websites.
Further, the online shopping market of Malaysia is well designed and gives retailers a lot of opportunities to showcase their products on a large scale. With the strong establishment of some major e-commerce giants such as Lazada, e- bay, Lelong, among others, the marketplaces have evolved to a great extent. These have created even more interest for the users as they get to experience seamless shopping with multiple options under the same roof. (Tiwari, Tiwari, Sinha and Gupta, 2020)
Moreover, the online shoppers of Malaysia prefer to shop through mobile phones. This has resulted in an entirely new industry called Mobile commerce. This very growth has pushed the numbers of digital commerce to a great extent in Malaysia. Some of the other major shopping trends of Malaysia include:
- There are more than 80% of the shoppers who prefer to select and make purchases through their mobile phones.
- There are at least 59% of the online shoppers who like to spend on shopping at least once a month.
- Malaysian men have been found to shop more than women.
- 48% of the fashionistas consist of girls and single women in the country of Malaysia (Tiwari, Tiwari, Sinha & Gupta, 2020).
Online shopping websites in Malaysia
The number of online shopping websites in Malaysia has grown since the evolution of the marketplace in 2000. There is a long list of categories from which the shoppers can choose in the Malaysian digital market. From electronics & media to food and personal care to furniture and even toys and other DIY items can be looked for in the websites at the Malaysian culture marketplace.
The presence of online websites in Malaysia has been increasing ever since the increase in mobile users. People love to shop through their mobile phones. This is the reason even the world-renowned e-commerce players like e- bay and amazon enjoy a strong reputation in the Malaysian market. Few of the top e-commerce websites in Malaysia are
Online shopping essay
The field of online shopping is emerging fastly in recent times. In fact, people are getting more dependent on the culture of online shopping with each passing day. Same way, the Malaysian e-commerce marketplace is experiencing a great wave of improvement. Further, most of the students are always confused about how to write essay introduction, so our Assignment help section provides an example of the essay on the e-commerce sector in Malaysia for the college assignment of students.
Malaysia- a place experiencing true expansion in e-commerce
The internet market in the present world is one of the prime reasons for all companies to grow even during times of global pandemic. With the entire world coming to a halt, it is through the effective presence of online websites on all the digital platforms that people are still leading a normal life. The very existence of the online market has given a boost to the business world. One country, which has witnessed high growth in the marketplace due to e-commerce setup is Malaysia. This country has achieved greater success in a relatively short span of time. In fact, it has proven that internet penetration can act as a definite booster for businesses of the world. The country has showcased a true example of how a country expands its business by enabling a strong and effective penetration of the internet. This article supports the very statement by presenting supportive arguments for it.
Thesis statement The Malaysian e-commerce industry has witnessed a huge boost in its business in the last few years. It is much because of the better and strong internet penetration in the various areas of the country. It is due to the better access to the internet and the strong presence of the digital market that the country’s e-commerce sector is surging continuously. At the same time, some people undermine the details and contradict the statements. This essay presents the growth of the e-commerce sector in Malaysia and exhibits how its strong penetration has led to the growth of the internet market.
The Internet market of Malaysia is expected to see 3.91 billion U.S. dollars in the present year of 2020, as per the latest reports presented by Statista. This supports the fact that the internet is one of the biggest revolutionary changes that the world is witnessing in the present times. From making changes in the lifestyle of the common man to bringing changes in the business opportunities of the world, the internet has transformed the basics of human existence in Malaysia. ("Top 10 Ecommerce & Online Shopping Sites in Malaysia [2020 Updated]", 2020) Almost every business has come online in Malaysia, giving a boost to the e-commerce market value of the country. This particular segment of the business has yielded strong benefits for the people of every country. It has helped the people to come under the same roof and shop for things virtually. This has been much possible because of the strong reach of the internet to even the smallest areas of the country. The upfront investment and smart steps of the Malaysian government have resulted in making the internet spread an achievable dream for the common man of the country. In fact, Malaysia has been believed to have the most extensive spread of the internet, due to which the country is expected to experience a whopping growth of 20.8% in 2020.
The Malaysian e-commerce market has a client base from both the local and global markets. This results in bringing great business opportunities for the brands selling on the internet. Websites like Shopee, Lazada, PrestoMall, Tokopedia, Qoo10, eBay, Amazon, including others, have significantly impressive clientele in the Malaysian e-commerce market. (Aprameya & Aprameya, 2020) The deep and strong penetration of the internet through social media platforms is one fundamental reason for this change. Also, there is no denying the fact that social media plays an important role in multiplying the business of online businesses. It is through the global reach of the social media platforms that online websites are now catching the attention of the global market. As per the reports of Statista, the social media users of Malaysia are expected to rise from 22.7 million in 2017 to 26.10 million in 2023. This certifies the fact the Malaysian market is sure to soar high in recent times. This is more possible because of the constant rise in the number of social media users. Further, the dependence of people on online resources is high, due to which the growth of the business is highly appreciated. (Tiwari, Tiwari, Sinha & Gupta, 2020)
The strong internet penetration has also resulted in bringing in more categories to the shopping list. ("Malaysia: internet penetration rate 2019 | Statista", 2020) The Malaysian e-commerce market today enlists a strong variety of products. It gives its user the choice to buy a small necessity like a towel to an electronic device like a TV. It even provides the choice to the user to buy his grocery items or even products for the fancy needs. Moreover, the convenience and the ease that a person experiences while shopping online is much more relaxing as compared to the one while actually going to the supermarket. Further, the very concept of online shopping presents multiple options to the users. It gives the person the opportunity to explore options from various brands for the same product. Not only a person gets to compare the prices of the product, but he also gets the chance to read the views of the customers present on the various online sites.
On the contrary, there are people who say that internet penetration has resulted in bringing losses to the offline and other business markets of the world. According to them, not every business person can grow his business using online methods. Moreover, the publicity and the expansion of business online require a certain amount of investment and time devotion. Further, it is a skill, which takes time to adapt. Therefore, the old and the established markets that do not have online shops are going through continuous losses. Also, at one place where the online market has seen a boost in recent years, the offline market has gone variably down. The people are shifting their preferences. Moreover, there are still some places in Malaysia where internet penetration has not been possible. These places again stay refrained from the advantages of online shopping.
Overall, it can be concluded that the online shopping market is one growing area, which has led to great benefits for the world. It has helped the companies survive through the difficult times and have even aided their employees well in bearing their family expenses. Moreover, the online Malaysian e-commerce market is a true example that with strong internet penetration and access to the people, it is possible for the companies to boost their businesses. The governments of the world should focus on strong penetration even in other parts of the world. This would help the e-commerce industry to grow even more and the smaller businesses to emerge higher in the coming years.
The online market is a business that has brought an evolution in the growth of the businesses of the world. The promising results of online businesses have pushed almost every sector to establish its presence in the online world. Moreover, it has been a welcoming journey for the shoppers to experience the much relatable convenience and ease while shopping online. However, companies should try to overcome the disadvantages of online shopping and come with effective solutions. Also, the underdeveloped nations should also introduce changes that help in promoting online shopping in less popular areas also. This will give a collective boost to the online shopping industry and help the world to fetch its fruitful results.
- Tiwari, S., Tiwari, S., Sinha, A., & Gupta, A. (2020). eCommerce Trends and Opportunities in Malaysia Uncovered!. Retrieved 7 October 2020, from https://cedcommerce.com/blog/how-to-win-ecommerce-malaysia/#ecommerce-platforms-malaysia
- shopping, O., & Shopping, A. (2020). What are the advantages and disadvantages of online shopping? Retrieved 10 October 2020, from http://grabonlinesales.com/advantages-and-disadvantages-of-online-shopping/
- Marketing Signal Lab. 2020. Top 10 Ecommerce & Online Shopping Sites In Malaysia [2020 Updated]. [online] Available at: https: marketingsignallab.com top-ecommerce-sites-in-malaysia [Accessed 10 October 2020].
- Aprameya, A., & Aprameya, A. (2020). Ecommerce in Malaysia : Growth, Trends & Opportunities. Retrieved 10 October 2020, from https://www.capillarytech.com/blog/capillary/ecommerce/ecommerce-in-malaysia-growth/
- Malaysia: internet penetration rate 2019 | Statista. (2020). Retrieved 10 October 2020, from https://www.statista.com/statistics/975058/internet-penetration-rate-in-malaysia/