Recession effected even the biggest economies of EU and has taken long years to recover. Meanwhile online shopping increased, new trends in retail spread and actually some markets also showed signficant increase last years. Retailing is redefined and I would like to understand how the recession effected recent changes stationary or online retail is experiencing
Hi, Meltem:
The impact of economic downturn/recession on consumer purchasing behavior has been significant even on luxury brands not only in Europe but also in the US. According to a luxury consumer tracking survey (Edelson, 2008) by Unity Marketing, especially troubling to retailers is that even consumers at the top of the economic food chain the small percentage of super-wealthy that account for a disproportionate amount of dollars spent pulled back. Consumers wanted to buy something that's enduring!
A recent report (Goad, 2009) consumers, in response to the recession, have changed their online behaviour. The authors mentions that real-world events and issues, such as the decision of the Bank of England (europe) to lower its base interest rate, have influenced online behavior. These observations, according to the author, only indicate that marketers need to increase their understanding as to how people respond to their brands and online campaigns.
One of the most important changes we see post-recessions is (the increasing prevalence of e-commerce in the consumer context) the issue of the difference in consumer perception and behavior considering single-brand e-retailers and multi-brand e-retailers. In which situations and conditions, if any, do customers prefer one of these types of e-retailers? The authors investigated an online purchasing behavior model that includes the two types of e-retailers.
The model confirms a difference in customers' perceptions between single-brand e-retailers and multi-brand e-retailers. In fact, for single-brand e-retailers, value, and implicitly quality, are indicators of repurchase intention, while in both websites, when customers believe that the brand of the product gives them prestige, they tend to repurchase. However, the impact of price on prestige differs between these two types of websites.
- Edelson, S. (2008, December 8). From Wealth To Stealth: Flaunting Days Are Over As Consumers Cut Back. WWD: Women's Wear Daily. pp. 1-1 NULL.
- GOAD, R. (2009). Offline events can affect online behaviour in surprising ways. New Media Age, 07.
- Rahnamaee, A., & Berger, P. D. (2013). Investigating consumers' online purchasing behavior: Single-brand e-retailers versus multi-brand e-retailers. Journal Of Marketing Analytics, 1(3), 138-148.
Hope this helps!
Nadeem
You might be interested in this articles:
http://www.mckinsey.com/insights/consumer_and_retail/how_the_recession_has_changed_us_consumer_behavior
https://www.ecb.europa.eu/pub/pdf/scpwps/ecbwp1729.pdf.
http://www.strategyand.pwc.com/perspectives/2015-consumer-goods-trends
Vida, Irena, Janez Damjan, and Ann Fairhurst. "Ethnocentric tendencies and consumer purchase behavior in Central and Eastern Europe: the case of Slovenia." Proceedings of the 1996 Multicultural Marketing Conference. Springer International Publishing, 2015.
Guo, Yue, and Stuart J. Barnes. "Explaining purchasing behavior within World of Warcraft." Journal of Computer Information Systems 52.3 (2012): 18-30.
Boztepe, Aysel. "Green marketing and its impact on consumer buying behavior." European Journal of Economic and Political Studies 5.1 (2012): 5-21.
Hello Meltem, you can chrck this study
http://www.htc-twister.com/~/media/Files/Twister/pdf/A%20European%20Study%20of%20Changing%20Lifestyles%20and%20Shopping%20Behaviour.ashx
Can someone find one complete marketing, 'customer satisfaction and private label of retail supermarkets'?
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