Buying preferences

Description:

Editing by Roel Kock (EMBA09)

Buying preferences from people is a key factor for the developement of the Internet. In some cases some new business have been successful in selling products by internet, as it is the case of CD's, airlines, etc. But in other cases the business has been a fail (e.g. grocery).

Some stores that started with one simple product (e.g. books or CD's) are now offering a wide variety of products. www.amazon.com is maybe the best example of this.

Enablers:

• Increasing trust in the internet transactions; more experienced consumers (see graph) and more trusted brands on the internet

internet experience and internet buying

• Secure comerce; increase in secured payments and secured delivery
• Encriptation technologies; increase in secure payments
• Change in laws to protect the consumer
• Wider variety of products being offered which makes 'one stop shopping' easier
• Easier to compare various products on price and quality also consumer evaluations on products and product bloggs on experiences
• Increase in 'second hand' buying
• More international offering of product (cheaper)
• More tailor made products (e.g. NikeID)
• Better and easier search, look and feel of the product

Inhibitors:

• Lack of safety in internet transactions
• Not trusty internet sites
• Not adequate logistic services (services are increasing and getting cheaper e.g. www.cdwow.com which has no delivery costs)

Paradigms:

• People do not trust on Internet for transactions, rather consumers prefer go to shop
• With Internet consumers save time and money in the transactions

Experts:

Please add any comments to the links below.

Timing:

http://en.wikipedia.org/wiki/E-commerce

Web Resources:

Journal of Internet Banking and Commerce [1]

Taxonomy of the Interner Comerce [2]