Technology has brought about a concept in the business arena known as ecommerce. This is the use of the internet and computer networks to do online shopping. This business has been booming over the years and has proven to be one of the most popular shopping avenues.
Buying and selling items and services online is popular due to the cheaper prices of commodities and services. It is cost effective as one does not have to move from one shop to the other looking for an item. By simply a touch of a button one can acquire whatever is needed. Free shipping services have also made this business very popular. Whatever one orders is delivered right at the doorstep. This is of course if you give the correct address and contact information. Customer reviews have helped consumers know the authenticity of a product.
The only problem with online transactions is that sometimes the rights of the consumer are neglected. For this reason, the European Union has given a directive on consumers’ rights. This is mainly to set up the same online selling regulations all through Europe.
Consumers are more protected in this directive in many ways. First, they are given 2 full weeks as a cooling off period where they can return their purchase and get a full refund with no questions. There are added limits for online credit card payments and telephone sales hotlines.
European countries have been given up to 2 years to ensure that these regulations are incorporated in their online trading laws.
This directive is ultimately expected to have a positive impact on EU’s economy but not all online business people believe it will be effective.
This directive is a result of talks between about 20 European finance ministers that have been held in Paris. It is simply an effort to try and avoid any debt crisis that financial analysts have talked about and even warned about.