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Investigation on the influence of the recession towards online shopping - Dissertation Example

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Findings and Data Analysis: A research conducted by the firm McKinsey indicates that the economic crisis has strictly affected people’s preference to shop online and it has been noted that several developed countries have noticed a considerable decline with respect to online shopping because of economic hardships and the conditions faced by consumers…
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Investigation on the influence of the recession towards online shopping
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Investigation on the influence of the recession towards online shopping

Download file to see previous pages... However, Monroe, Sinclair, and Wachinger (2009) also indicate that over the past several years there has been considerable progress in retail sales and in 2007 it was note that there was more than 30 percent increase in retail sales in the Netherlands, France, in Germany and in Italy. Moreover, the researchers have also viable proof to suggest that sales in the United Kingdom actually spiked by more than thirty percent in 2008 in comparison to previous years while actual retail stores suffered losses in the sales in accordance with the data collected by British Retail Consortium. In accordance with online retail marketing, Monroe, Sinclair, and Wachinger (2009) suggest that retailers have a lot to learn if they would like their online sales to increase, “such as levels of broadband penetration and the shopping attitudes that differentiate European retail markets”. Constantin (2010) states in his research that because of recession, many countries and many organizations face a significant challenge to maintain themselves in the economy. Many sectors within the economy have been affected, top of them being automobile manufacturing, tourism, health insurance and retail. He states that because of recession, there has been a general slowdown in the economy and thus buyers have actually reduced traditional shopping. In this case, Monroe, Sinclair, and Wachinger (2009) support this research’s hypothesis that online sales have actually increased over time due to recession. They believe that the patterns of sales show increase because of broadband penetration which has led to people shopping more and more online. Monroe, Sinclair, and Wachinger (2009) along with other researchers also suggest that retail outlets online will have to work on finding the right niche in order to actually obtain sales in these recessionary times since buyers are ready to purchase goods online however, they are primarily targeting their needs instead of their wants. (Grewal and Tansuhaj, 2001; Gronroos, 1989; Keisidou, Sarigiannidis and Maditinos, 2011; Koksal and Ozgul, 2007; Li and Zhang, 2002; Lian and Lin 2008) The study conducted research on ninety three respondents within an age bracket 18 to 51 with maximum respondents (83 percent) being in the age group of 18 to 23 and about 75 percent being males amongst the respondents. Various questions were asked from the respondents to evaluate the concept of traditional shopping versus online shopping and how people have actually moved to this type of shopping particularly in the recessionary times being experienced in this day and age. Based on survey results, a summarization of the results can be that there has not been much impact in online sales of these respondents because they continue with their patterns of purchase irrespective of how the economy has been functioning. The reasons behind this continued pattern of purchase is for reasons other than economic recession where most find it convenient, easy and time saving to actually shop online in comparison to shopping traditionally in shops. Evans (2009) suggests in her forecast for online shopping for 2013 that despite the negative effects of the economy on shopping, both traditional as well as online shopping. There are various reasons because of which people have reduced their short term online and traditional shopping. Evans (2009) believes that such reasons include various aspects of spending such as lower levels ...Download file to see next pagesRead More
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