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Analysing Online Consumer Shopping Motivations For Luxury Products - Research Paper Example
The writer of the essay "Analysing Online Consumer Shopping Motivations For Luxury Products" suggests that with respect to luxury products, aspects such as self-reward, status, connoisseurship and individuality have been found to create a profound impact on online consumer behavior. …
Each day more and more people take the leap to purchase online. Several organizations desire to capitalize on the growing momentum of the online revolution.
According to Javadi & et. al., as compared to physical outlets, online stores possesses a number of unmatched benefits. They are much expedient than physical outlets and allow customers to save time on traveling or waiting lines. Online stores remain accessible at any time and provide customers with rich information regarding different products and services offerings. In present days, online customers possess a greater extent of control along with bargaining power in comparison with physical stores because online medium renders more interactivity between customers and product or service providers. Online shopping has shifted the balance of bargaining power in favor of the customers because it has become quite convenient for them to make comparisons and assess different alternatives without being pressurized by the sales persons. Online shopping facilitates to minimize the transaction expenses along with providing benefits for both customers and suppliers.
Consumer behavior is regarded as the dynamic collaboration of thought of persons and its effect. It is determined as the procedures and the activities people involve with while searching, purchasing and evaluating products. As stated by Perez-Schafer, there are three key domains which can define purchasing behavior of consumers. Fig 1 depicts the three vital domains of consumer behavior.