In nowadays Hong Kong, under the advanced technology development and the prevalent usages of the electric gadgets, the consumption patterns in Hong kong have been shifted from the very traditional form, e.g. the face-to-face consumption to the modern electronic business, e.g. Instagram shop, TaoBao, eBay, official websites, etc.
- Electronic business, or e-business, is the application of information and communication technologies (ICT) in support of all the activities of business.
- Electronic commerce focuses on the use of ICT to enable the external activities and relationships of the business with individuals, groups and other businesses or e business refers to business with help of internet i.e. doing business with the help of internet network.
The common online consumption platforms in Hong Kong
Instagram Shop is a wonderful and convenient app for sharing users’ personal moments and act as a tool for selling items by reaching the millions of potential customers on Instagram through customers-to-customers (C2C) and business-to-consumers (B2C) retailing services. In order to start the business on Instagram, just need to establish a new account on Instagram.
- TaoBao is a Chinese website for online shopping, which is similar to eBay and Amazon. It facilitates consumers-to-consumers (C2C) retailing services for small business or individual entrepreneurs, mainly cater to consumers in Chinese-speaking regions but also abroad countries, to start develop online stores.
- eBay is an oversea multinational corporation which providing consumer-to-consumer (C2C) and business-to-consumer (B2C) retailing services to consumers allover the World through the Internet.
- Official Website of a brand is an internet page conducted and maintained by a person or business in promoting and introducing the business and products of a brand. It is a business-to-consumer (B2C).
The four major reasons why consumers select the consumption pattern in e – business instead of the traditional one?
- Convenience is the major reason for consumer to use the E-commerce or business in purchasing products, as if we own an computer or mobile phone, we can buy anything in the means of online shopping, such as Instagram shop in everywhere at anytime.
- Diversification of products due to various sellers on the Internet, as the set up prices are relatively lower or even zero in operating an online shop, therefore attract more people in worldwide to join in this business mode, therefore the number of sellers increased and hence their different promotion and products styles, which provide more choices for consumers.
- Time saving is the last but not least important factor, while Hong King is with a hustle and bustle lifestyle, spending leisure time in shopping becomes treasure, however with the convince nature in online consumption, consumers can find their favorite and necessary products through the Internet within a few minutes, this help saving times and save more time in doing other important substances.
- Multitasking can be processed while online window shopping without Getting tired. As we just need to press few buttons, then can buy our favorite products as well.
The three common disadvantages of online shopping
- Leakage of consumers’ private information through the online order process or online payments. As online shop usually requires consumers to provide their home address or other information on the Internet, if there is a inappropriate reserve of the consumer information, will be easily hacked by hackers or other people.
- Cannot guarantee the quality of the goods and services, while consumers can just see the photos of the goods on the Internet rather than feeling the actual texture of the good.
- The Internet becomes more difficult for consumers to create a personal connection with a product.
Online shopping business mode is quite suit and match to nowadays Hong Kong socio-economic development, the hustle and bustle lifestyle of Hong Kong citizens, as it is more convenience. However, we cannot deny the disadvantages of this business model too, while information is easily leaked to the general public, therefore, the future prospect of this business is not quite easily to be determined. In my point of view, I love shopping online, I think if the online shopping can solve the problem of leakage of the private information by establishing security keys to the various means of this business mode, then the prospect of online consumption is fair or even better with the constant increasing growth of the e-commerce.
- Wikipedia – E-business
- Wikipedia – TaoBao
- Wikipedia – eBay
- Phorio standards – Official Website