Imagine that you have entered a restaurant for dinner. You walk in and are pleasantly surprised to find that a stunning buffet is laid out in front of you. You are not that hungry but the spread before you looks delicious and you think you’d want to indulge a bit…
There is something about choice that really tempts us as consumers. We enjoy choosing from a variety of things and knowing that the decision has been ours entirely. Marketers are well aware of this and the more we look around, the more choices we are tempted with.
Now let’s take the example that we looked at above a little further. Imagine you are done with your lovely meal and it is time to pay the bill. You look into your wallet and are shocked to find that you have no cash on you. But you relax immediately because you have your credit card and your debit card with you. However, you usually like to pay cash and wonder if there is any chance they will allow you to come back tomorrow and pay your bill in cash.
Well, that last bit of the example is taking the story a bit too far. But even though it might not be possible to pay later after a buffet dinner, it most definitely is possible to have that option when you are shopping online.
As mentioned above, choices make us comfortable. Knowing that the same thing can be done in a variety of ways gives us some sort of security. This is something that marketers have known for a long time. That is why they introduced features like colors, sizes, shapes, scents, flavors etc (depending on what type of product you are talking about, of course).
The fact is that we are so used to having choices that we take it for granted. We immediately feel that if a retailer does not offer us as many choices are possible, then that retailer is lacking in some way. These days we are so accustomed to the idea of credit and debit cards that very few of us carry that much cash on us. Again, the choice gives us comfort. Running to an ATM is not a requirement anymore.
Internet marketers have made the most the technology that is available to them to ensure that their customers are well taken care of. After all, happy customers are good news for retailers. The main issues that customers face with online marketing are problems related to payment methods and procedures. Internet marketers have taken these matters into consideration and found rather appealing solutions to them. Now there are many ways of paying for something you have bought online.
Even though credit cards are still the most popular form of payment on the Internet, the fact that other options are available puts consumers at ease. It is very likely that if the same product were offered at the same price at two different sites, the site offering more payment options would most probably win out. Other ways in which Internet shoppers can pay for what they bought are through Paypal, gift certificates, company credit cards or other finance offers. So much so that you do not even have to pay immediately. “Bill Me Later” options are rather popular with online shoppers these days.
Competition is at such a high these days that retailers, both on and offline, have to constantly work at attracting consumers. Right now having many options to pay online might seem like a benefit, but it probably won’t be long before it becomes an expected feature for all online shops.
