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An exploratory study on electronic marketing on the net in a concentrated marketplace

Summary form only given. This paper presents a regression model to quantify the impact of a number of different aspects in relation to the willingness of consumers to shop on the Internet based on a survey conducted in Singapore. The research results suggest the following observations with regard to the local consumers' perceptions on electronic marketing and their willingness to participate in virtual shopping. First, transaction security is found to be a significant factor because the willingness to shop on the net is negatively affected by this concern. Second, the regression model produces a sign consistent with demand theory. If cost in the form of retail price offered over the Internet increases, the individual's willingness to purchase would decline. Third, virtual shopping displays the properties of a classical superior good. Consumers are concerned with the limited life content of products marketed on the net. The pleasure of being able to touch and feel creates enjoyment. Internet marketing is comparatively weak in this aspect, and therefore product groups that rely heavily on senses other than sight are not likely to sell easily. The more significant this dependency, the less the individual would be willing to buy the product group on the Internet. This would mean offering a greater variety of products, better services and efforts to render virtual stores more attractive and conducive and greater enjoyment in comparison to traditional shopping.