In such a situation, they may be less prone to using electronic channels for buying financial products. Ability is defined as skill or proficiency in understanding financial products. Lack of ability implies that knowledge structures necessary to perform purchase transactions on the electronic channel either do not exist or cannot be accessed. Part of the problem may be that personal or situational factors impede the time spent on understanding electronic channels. People who lead a very busy lifestyle may have less time to manage the decision making process by themselves.
Opportunity is defined as the presence of circumstances that promote the use of electronic channels.
People who do not have the tools such as a computer may not have the opportunity to use electronic channels. Similarly, people who do not have the economic capacity to purchase financial products may have lower opportunity to use such channels than those who have disposable income and wealth for investment purposes. The data for our study were collected through a primary study of consumers in the Nashville, Tennessee area. An independent research supplier, Market Facts, Inc., was used for data collection. Surveys were mailed to 700 randomly selected customers living in Nashville.