Learn more about shopping channels and online shopping
Shopping is a great opportunity for younger children to have a better grasp of money concepts, and for the older ones to know the features of different shopping channels and the importance of price comparison. Parents can make use of the growing trend of online shopping to introduce their children to its advantages and risks.
Shopping channels
- Physical stores
These include shops, department stores, supermarkets, wet markets and convenient stores. Convenient stores have longer opening hours, but prices tend to be higher. - Online shopping
E-commerce websites of brands, online sellers, online group buying and online auctions.
Physical stores vs Online shopping
To help children understand the difference between shopping in a physical and online store, parents can use relatable examples.
For instance, when shopping for a pair of sneakers, children can try on different styles and pick the most comfortable pair in a store. However, if you are looking for a previous model that is no longer being sold in the retail stores, you may find it still available online and perhaps at a lower price. When you shopping online, you will have to wait the item to be delivered instead of taking the new sneakers home directly.
| Physical store | Online shopping |
|---|---|
| Onsite sales person to assist | No sales person to assist |
| Shop during store opening hours | Shop anytime and anywhere |
| What you see is what you get | The product may look different from the picture online. Unscrupulous sellers may sell you something of a poorer quality or just take your money and vanish |
| Take the product home immediately | Wait for product to be delivered |
Smart shopping tips
Here are some things to note when shopping in a physical store. Check if the store offers any discounts as well as check the product before making the payment. Find out if there is a refund or exchange policy and remember to keep the receipt.
While online shopping may save your time and offer you with a wide selection, you should stay vigilant against online scams. Always choose reputable online vendors, check their credibility through the transaction records, and never disclose your personal information such as ID number casually. Take note of the refund or exchange policy too.
Whether shopping online or offline, children should learn to be smart consumers by comparing the prices and product quality of different sellers, and only buy what they need according to their affordability and budget.
Free activity sheet for download – Online shopping
As online shopping is getting more popular, parents may download this activity sheet to discuss the advantages and disadvantages of online shopping with your children, and identify the things to note during online shopping.
Download here.
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9 April 2020
