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Published On: Wed, Sep 8th, 2021

Online Shopping Has Become Increasingly Popular: Here’s Why

Online shopping has taken the world by storm—with an estimated 2.14 billion people purchasing goods online in 2021. Here are the top four reasons why online shopping’s popularity has skyrocketed:

Convenience

When customers look to purchase products in-store, they must physically take themselves to the store, find the item, complete the purchase and return home. This cycle can easily take well over an hour, making people spend their valuable time. In stark contrast, shoppers can complete online purchases in a matter of minutes, whether it’s on their computer, phone, or tablet. In fact, 57% of consumers prefer to shop online (versus 31% who prefer in-store experiences) with convenience and the ability to shop 24/7 being selected by a combined 54% of shoppers as the main reasons to shop online.

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Variety of Products

Most brick-and-mortar stores are tailored to one specific industry while big box stores usually have a limited selection of products. On the other hand, large online retailers like Amazon and eBay allow customers to purchase a variety of products ranging from cosmetics to food to even cars in one cart. In fact, a 2016 study by a Stanford researcher found that customers are more likely to make a purchase when offered a large variety of products versus a small selection.

Lower Prices

Online retailers tend to have lower prices online—even if they have brick-and-mortar locations. This is due to having lower operational costs (few online retailers pay for rent and shrinkage loss is significantly lower), as well as the ability to hold onto merchandise for longer being products, are not competing for shelf space. This is why one can find a Christmas tree in July on a website but not in-store. Online retailers are then able to pass these savings onto their consumers. This also allows for better prices during popular shopping days (like Black Friday and Cyber Monday), with the majority of shopping happening online.

Online Technology

Online technology like chatbots has allowed online shopping’s popularity to soar. Millennials prefer live chats and chatbots for communication with businesses due to the convenience and speed of the service it offers; however, it isn’t just for younger individuals either. 60% of all consumers have used an AI chatbot to answer at least one question in the past year. Click here to learn more about the best AI chatbots currently available.

Final Thoughts

Online shopping has skyrocketed in popularity over the past few years, and it is easy to see why. Due to the convenience, variety of products, lower prices, and online technology utilized by online shopping sites, one can only expect the popularity of online shopping to grow with consumers. With the help of Al chatbot, support will be focused even more for consumers to shop online and be more productive.

Author: Deny Smith

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