14. Behavioral Economics in Online Shopping: The Psychology of Discounts and Flash Sales

The rapid growth of e-commerce industry among the people has paved the way for online purchasing. Online shopping is the activity or action of buying products or services over the Internet. It means using the internet, finding a seller's website, choosing an item and setting up delivery. The buyer can pay for the goods or services online with a credit or debit card or in person when the product is delivered. The term does not only include online purchases but also searching the product through online. Online shopping has been around for about twenty-five years. But its popularity has greatly increased. Today, we can buy almost anything in online. Numerous discounts and flash sales were available while entering online shopping. So, the people engaged impulsive and unplanned purchase. In fact, retail experts say that online shopping will soon overtake traditional shopping in monetary terms. This paper is an attempt to examine the Behavioral Economics in Online Shopping: The Psychology of Discounts and Flash Sales.