Will online marketing eliminate all other business?
Even though online shopping is still small part of overall retail sales but it’s a very large part of electronic commerce, or e-commerce today. Online shopping is greatly increasing in popularity because of the speed and the efficiency in which it can be done. Every year we’ll see better and faster technologies that help make the online shopping process easier. It is convenient, and allows for consumers to shop for just about anything from furniture, electronics, and clothing, without going store to store and leaving the comfort of their homes.
One of the major problems with online shopping is that buyers wouldn’t trust any websites and they don’t want to share their financial information with some online sellers. The development of one secure central account for all online payment (like Paypal and Google Checkout) has became one of best way to deal with privacy of user’s private information and online identity thefts. Basically central account is the secure process of online shopping and making payments without sharing buyer’s information with vendor. So buyer will only have to share their private information like, address, phone number and credit card number with this central account. Also, Government and credit card companies play a major rule in the e-marketing business with executing new laws and policies. Paying with credit card has a great advantage with these new policies. For example, when one purchases a product using a credit card, his/her purchase is protected by the Fair Credit Billing Act Under this law, one has the right to dispute certain charges, and can temporarily withhold payment while his/her case is being examined.
Even with all of these comforts, the online shopping stores have been working with research labs to make the shopping at home even more enjoyable by developing new technologies. One of these systems is Smell-O-Vision that is a device that can release different odors based on the data it receives. This device, which was developed at the Tokyo Institute of Technology, can analyze scents and reproduce them by combining the 96 chemicals packed inside the device. Once the device is pointed at an object, it records the odors surrounding the object using 15 chemical-sensing microchips, or electronic noses. It can then transmit that data to another device in a different location, or save it for later playback. The device could be used to improve online shopping by allowing the shoppers to sniff foods or fragrances before buying it, to add an extra dimension to virtual reality environments and even to assist doctors treating patients remotely by recreating bile, blood or urine odors that might help a diagnosis. However this product is still under produced and not commercially usable but its first step to experience the new way of interactivity between the shoppers and computer.
One other factor that has major contribution to the advance or the decline of online businesses is the argument of taxation and the fact that most Internet buyers pay no sales tax has ignited a considerable debate over this topic. The results suggest that, controlling for observable characteristics, people living in high sales taxes locations are significantly more likely to buy online. The study suggests that applying existing sales taxes to Internet commerce might reduce the number of online buyers by up to 24 percent. The extraordinary growth of the Internet in the last few years has led some to speak of the birth of a world without borders, in which that communication and knowledge over the shopping market is not only free, but also necessity. Although online transactions currently make up only a very small fraction of total retail sales, predictions of astounding future growth have caused state policy makers to become highly concerned about the fact that most online transactions pay no sales or use tax.
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