ONLINE SHOPPING CAN BE FUN

Posted on March 27, 2014. Filed under: Uncategorized | Tags: , , , , , |

 

 

My mother, my youngest brother and my wife and friends have always expressed surprise at the way I shop. I am not in the habit of haggling over the price and feel proud about the bargain. The truth is I do not have any patience.

With the growing popularity of online shopping, shopping has become a lot easier and also a happy experience for me. There is no need for me to haggle, I can simply compare between different online shopping portals and take advantage of the Coupons, Cashback and Bargain offers. My wife is delighted of the various offers on offer.

I have been ridiculed by friends and colleagues over my inability to get something for less while shopping. Now with the Coupons,Cashback and Bargain that is something of the past. I take pride in talking about my latest conquests and victories as far as online shopping is concerned.                                                                          

 There is the  concept of Consumer Surplus in Economic theory where there is a gain to the consumer in the event the price paid by him/her is less than what he/she intended to pay in the first place. To give an example, I have been trying to go to the new movie release for three days with no luck. So in order to impress my wife, I decide to pay Rs.100 even when the actual price is Rs.50 which is a measure of not only my desperation but also the amount of satisfaction that I expect to derive. But on day four, I am able to watch the movie by spending only Rs.50. This means I end up getting satisfaction worth Rs.100 with a spend of only Rs.50 ! This gain in satisfaction worth Rs.50 is the measure of the Consumer Surplus. 

At the other end of the spectrum, there is the concept of Producer Surplus which is simply the profit for the seller. Every product has a minimum price which covers all  kinds of costs including the normal profit for the seller. In the event of the seller being in a position to charge a price higher than the minimum, there is a Producer Surplus.

Many of friends called me a Surplus Consumer because I always contributed to the enlargement of the Producer Surplus. Now the shoe is on the other foot as online shopping has with the various offers has been contributing to my Consumer Surplus. My ego gets a nitro boost when I find someone being forced to pay more when I paid less for the same product.

This post is a part of the Shop, only to Save More! Activity by GoPaisa.com in association with BlogAdda.com.

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