Online Shopping And Its Advantages – Forbes Advisor INDIA

What will you do if you suddenly realize no milk or bread is in the fridge? Or what if you feel like having a burger but are too lazy to go out? The best option available to you is ordering the items ‘online.’ You only need to pick up your smartphone, log in to the grocery or food online delivery app to order, and then receive your order in just the next couple of minutes. Isn’t this process so simple. And, not just food or groceries, one can make quick online purchases for apparel, gadgets, electronics, furniture, books, footwear, accessories, jewelry, etc. 

The exponential rise of digital literacy and awareness has made online shopping an integral and inevitable part of our lifestyle. The biggest perk of this kind of shopping is that it can be done within minutes, at the ease and comfort of your house or wherever you are, by just clicking a tab. 

Online shopping was already booming, but post-pandemic, it has undoubtedly taken the front seat and become one of the most favored and chosen modes for purchasing things for most people. According to the India Brand Equity Foundation, the Indian e-commerce market is expected to reach $16-20 billion by 2025 and $350 billion by 2030.

The market of Indian e-commerce is rapidly increasing due to factors such as:

• Constantly growing investment in the e-commerce space.
• Government initiative and policy support.
• High-demand and attractive opportunities due to Covid-19. 

Pros and Cons of Online Shopping

Advantages of Shopping Online

Convenient and Time-Saving: Online shopping is super convenient and time-saving. It can be done anytime, 24/7, at home, at work, in the car, at the movies, on holiday, or anywhere you feel like. You can select the item you choose without the hassle of going to a mall or any physical store to buy a sure thing.

Affordable: Another significant factor of online shopping is affordability. Throughout the year, one can always find many lucrative deals on online shopping websites. These heavy discounts can also be availed of through various clearance sales, coupon codes, referral discounts, and credit and debit card discounts, which in turn help one purchase things at good and affordable rates. 

Huge Range of Options: Online shopping provides you with an umpteen range of options compared to offline stores such as showrooms or malls. Online shopping is done via the internet, an endless medium that provides various options in one go. This also helps the shoppers make the best choice in terms of selection and pricing by getting in on the latest worldwide trends. Yes, just by sitting at your home, you can shop from retailers in other parts of the world.

Easy Returns and Exchanges: Shopping has never been this easy. Apart from easy deliveries, online shopping also allows hassle-free returns. If you do not like a particular product, you can always state the reason and get it exchanged or returned within a tight time frame. With just one click, you can replace and exchange the product or return it as you wish. At the same time, one can track the order and delivery status from their shopping website.

Option to buy or sell second-hand goods at cheaper prices: The second-hand shopping market is also increasing online. These online marketplaces give access to old, used, or damaged product listings at much lower prices. From a seller’s point of view, one can sell their used products with an easy listing process at comparatively reasonable prices. We all know the hassle of selling old and damaged things offline is enormous compared to online websites. 

What Should You Purchase Online?

1. New or used electronic items or gadgets.
2. Used or second-hand car
3. Medicines only from reputed websites.
4. Apparel, when you know the size, color, and style.
5. Footwear, accessories, and jewelry.
6. Baby or newborn supplies
7. Groceries or essential supplies.
8. Art and fancy household artifacts.
9. Books and novels.
10. Airfare and hotel bookings.
11. Insurance policies or mutual funds. 

What Should You Avoid Purchasing Online?

1. Heavy items or large appliances with expensive shipping costs.
2. High-priced items like luxury bags or costly fine jewelry. 
3. Prescription drugs.
4. Fresh produce items such as fruits and vegetables.
5. Items such as sunglasses, mattresses, furniture, etc., must be experienced first-hand while buying.  
6. Any item or product you haven’t experienced, such as perfumes or cosmetics.
7. Pet animals. 
8. Real estate.

Things To Keep in Mind Before Making A Purchase Online

• Be Secure: Always buy a product from a secure and well-established website. However, if you know the website is good and are using it for the first time, then make a purchase, then it is advisable to go for the “cash on delivery” option (COD), where you make the cash payment only after checking the product.
  But if the website looks suspicious, always check the URL, which should begin with ‘https’ instead of ‘http’.  ‘S’ here stands for a secured website, and if there are no ‘s,’ the website is not at all secured, and your information could be at risk of being stolen.

• Read the Details Carefully: Before selecting the product, always carefully read the product details and description.
• Check Everything About the Product: Always check the product reviews and ratings, especially when you are purchasing an expensive product online. The reviews and ratings provide a fair idea about the quality and performance of a certain product from real consumers.
• Credit or Debit Card: It is advisable to use a credit card rather than a debit card if you are planning to purchase a product online. If paid with a credit card, you still have the bandwidth to withhold the transaction in case of any fraud or hack happening via your online purchase. Also, be extra cautious. Keep a check on your bank statements and past transaction history, as well as SMS and email notifications for every online purchase.
• Do Not Link Your Vital Information: Try not to connect or link your credit card or debit card details or bank account information directly with the website. While making an online purchase, it is advisable to fill in the card or bank details afresh every time to avoid fraud. To be safe, you can always choose the COD option, which saves a lot of trouble.

Also Read: Best Credit Card For Online Shopping

Types of Credit Card Offers On Online Shopping 

YES Bank Paisabazaar PaisaSave Credit Card

Joining Fee: Zero
Online Cashback: 3% cashback on online spends
Annual Membership Fee: Rs. 499+applicable taxes

Features and Benefits:

• 3% cashback as six reward points on every INR 200 spent on e-commerce transactions.
• All wallet transactions will be charged at least 1% of the transaction value or INR 1, whichever is higher.
• The annual fee is waived on annual spending of Rs. 1.2 lakh.
• A 1% fee + applicable GST will be levied on fuel transactions in a calendar month if the transaction value exceeds INR 10,000. Total Fuel Transaction charges will be capped at INR 5,000 per customer per calendar month.

Cashback SBI Card

Joining Fee: INR 999
Online Cashback: 5% cashback on online spends
Annual Fee: Rs. 999

Key Features and Benefits:

• 5% cashback on all online spending without merchant restrictions and 1% cashback on all offline transactions.
• A 1% fuel surcharge will be waived across all petrol pumps in India, appropriate on transactions between INR 500 and INR 3,000, exclusive of GST and other charges.
• Reversal of Renewal Fee on annual spends of INR 2 Lakh.

Amazon Pay ICICI Credit Card

Joining Fee: Zero
Online Cashback: 1% cashback on online spends
Annual Fee: Zero

Key Features and Benefits:

• If you’re an Amazon Prime member, you get 5% cashback on your spending on Amazon India.
• 3% cashback on Amazon spends for Non-Prime members.
• 2% cashback on payments to 100+ partner merchants through Amazon Pay.
• 1% cashback on other transactions such as dining, shopping, insurance payments, travel, etc.
• There is no limit or expiration date on the earned rewards.
• 1% fuel surcharge waiver in India across all petrol pumps each time you refuel.

Axis Bank ACE Credit Card

Joining Fee: Zero (for select channels)
Online Cashback: 1.5% to 5%
Annual Fee: INR 499

Key Features & Benefits:

• 5% cashback on bill payment, DTH recharge, and mobile recharge via Google Pay.
• 4% cashback on Swiggy, Ola, and Zomato.
• 1.5% cashback on other expenses.
• Four complimentary domestic lounge visits per year, spending Rs. 50,000 during the previous three months.
• A 1% fuel surcharge will be waived across all fuel stations in India for transactions between INR 400 and INR 4,000.

Bottom Line

Online shopping is so much fun and can also have a therapeutic effect on your mood. If done wisely, it can also save you money and time. So, to have a happy and satisfied online shopping experience, you must be cautious to avoid unnecessary troubles.