Paradigm Shift in Online Buying and Selling


As we move increasingly towards the virtual world, online buying and selling will happen more as the traffic of transaction increases on the web. If we see the evolution cycle of the buying and selling on the web, it clearly shows a trend of opportunities and apprehensions. For example, in the last decade secure transactions was a key differentiator between a good and a bad service, this now has been replaced by the quality of material over the virtual market place.

After the success of a lot of open online store for free, the virtual space is filled with marketers who will promise the world. This promise is based on sourcing deals with the parent company, however whether the supply chain will integrate itself to offer to the customer the promise or not, is a bigger challenge. Also, the need of independent third party values is being felt as these certifying agencies can bring back the trust lost due to subjectivity and the difference between perception of the buyer and the seller.

The next wave that will be seen in the online buying and selling space would be standardization of products and services. Since virtual space is sans physical boundaries of two countries due to which local administration has to bear the brunt of difference in services. This gives rise to local search engines being in place looking for deals in town. However this also falls flat as volumes of scale does not allow lowest price and cannot be compared with offerings of the giants.

Since the industry players have lowest cost for a given item, they earn profit via high transaction fees. The benefit of the same just happens with that organization and the supplier is not given any extra amount even if it is sold more than a higher price. This has given way to free online sites used for buying and selling with minimal or no transaction cost. Suppliers are happier with these sites as any increment more than the floor price is passed on to these suppliers. In case the product is not good, artificial inflation of the qualities are not propaganda against an item as the transaction cost associated is zero.

This will ensure that no supercilious sales happen. Many Companies are now using multiple channels to attract the buyer because of clustering in virtual space to sell products. As we can see convergence across multiple businesses where media, technology and core come together, the same is applying to online buying and selling. These new challenges of quality over form will set the ball rolling for the next wave for these online buying and selling platforms.

Leave a Reply

Your email address will not be published. Required fields are marked *

WC Captcha 28 + = 33