10 Online Shopping Terms Every Buyer Needs to Know!

If you are one of those people who is obsessed with online shopping and find yourself browsing shopping apps the entire day, it is crucial to have utmost knowledge of where you buy from, what you buy and how much you buy it for.

SEE ALSO: Top 7 Online Shopping Hacks to Get Best Deals and Save Money

Here is a list or cheat sheet of the common terms and phrases that avid online shoppers usually frequent. You can check it out to enhance your shopping quotient.

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#1

This term refers to the capability of customers to accurately track and monitor the status of their packages, right from order placement to delivery. Using a unique tracking number, you can easily track and check the status of your order. Some sites prefer to send messages and mails for the status.

#2

This is a rather complex term and is used when a product is not currently available but purchase can be made today for confirmed delivery in the future. You can place an order for a smartphone that is to launch a month later. You will pay money today and eventually get the product on launch date or later.

#3

Sometimes people place orders that have one or more items in the entire order. These items may have to be procured from different centres and thus be sent at different times or even different dates. So, if your order status shows this message, don't panic if you get incomplete orders. The next product is probably on the way.

#4

With almost 92% currently in the world being digital, mobile payments are also gaining relevance in the online commerce industry. Mobile payments are the kind of payments done through smartphones and tablets if you have the concerned bank's app or mobile website installed on your device.

#5

A recent addition to online payment security is of two-factor authentication. For example, a site may ask you for your username and password as the first step, and then send a text message with an OTP that you will have to type in as the second step. This method provides an extra layer of security, making it harder for thieves to hack into your account.

#6

A very convenient option for interacting with customer support staff on the shopping site is by using the real-time live support chat option. It offers immediate assistance and is a 100% more effective way than talking on the phone or via e-mail. While the wait time is generally high, chat support is able to solve issues faster.

#7

Newsletter is a term you may come upon when shopping, typically when going through the checkout process. Many shopping sites offer an e-mail newsletter that you may opt to sign up for and get on a regular basis.

Newsletters include company information, but mostly special deals, sales, and offers that the store has regularly. Some sites even offer first user coupon codes via newsletters.

#8

Bitcoin is a relatively new form of digital currency that can be sent electronically from person to person without any bank or clearing house acting as the middleman. It can be used internationally, and you can buy and sell Bitcoins using world currencies like dollars and pounds. Bitcoin has a very low risk of fraud or bounces.

#9

Digital download describes a product you can purchase - video game, book, music, or software - delivered to you digitally rather than physically. This could be in the form of a PDF document, an MP3, or an installer file. Some online retailers like Amazon prefer the digital copy due to its instantaneous consumption.

#10

Another unique concept on the Internet, refurbished items are those specific products that have been previously used by a customer but returned due to issues not related to quality. These products are then tested and repaired by the company and sold off at a lower rate to prospective customers.

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