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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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
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The paper studies the careful analysis of the global turndown, its effect on the market and the industry of luxury goods in particular. Various analyses of the companies have been done and comparative analysis has been carried out to understand the difference created. The reviews from the employees and the customers have also been combined to know the popularity of the implemented system.
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Contrary to this, approximately 23% of the managers make use of online travel booking systems as an opportunity to embrace novelty, more agent options and mobility (Janda, Trocchia, & Gwinner, 2002). The strengths associated with traditional travel agency as opposed to online ravel booking can also be regarded as being complete travel packages, offer available information, personalized information, have certainty when it comes when it comes to preservation, provides guarantee in relation to the personal security of the consumers and ensure compensation for consumers in the event of any damages while accessing the travel services.
FMCGs is a market that is very competitive. The consumers driven by trust stick to a particular product until their trust is broken by any adverse news. During recession, this loyalty will sustain the sale and movement of FMCG products up to a certain degree when the FMCG cost cannot be afforded by the consumers anymore.
Quantitative and qualitative research approaches were used for primary data gathering. Based on the outcomes of the research, university students had strong utilitarian and hedonic orientations towards online shopping. Moreover, it was found that they agreed with the benefits of online shopping which include convenience, wide selection, fun, and effectiveness of the homepage.
Mobile commerce is the combination of internet and mobile phones which optimizes consumer convenience while making it possible for a wider audience to gain from this development. The success of m-com depends to a large extent on adoption of technology. While the Asian countries have surged ahead in m-com applications, many Western countries lag behind.
Abstract: In the retail banking services, online banking is relatively new phase and still many people are not properly aware of the offerings of online banking. In this advanced technological era, many customers of banks and non-banking financial institutes are still not satisfied and comfortable by using the internet services.
1-2; Hsu and Bayarsaikhan, 2012, p. 167). Specifically, internet has been used in among other means the aid to trade and shopping. From the ‘Nielsen Global Consumer Report June 2010’, online trading practices has had a great influence on shopping for goods and services (The Nielsen Company, 2010, p.
The dissertation has examined if Facebook has become the new marketplace for fashion products. Emergence of social media sites such as Facebook has gained widespread popularity and it has millions of members. This dissertation therefore examines if Facebook has emerged as the new market place for fashion products and further examines the methods and tools used by fashion firms to market and promote their products.
The entire study discusses the various factors like Trust in online shopping, Consumer rights and security, Intentions in online shopping, Culture, personal values, Family and friend’s reference regarding online shopping etc. which actually affects the consumer’s perspective and action towards online shopping.
2 Pages(500 words)Dissertation
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