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Economic Conditions - Essay Example

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Economic Conditions

U.S. gross debt increased in terms of percent of GDP 7. Nominal value of the U.S. dollar against all major currencies  In looking at actual data, there was a huge economic downturn during 2008. Despite this, retailers’ sales revenue increased when compared to 2006 and 2007. There was little effect on revenue growth in 2008 compared to 2007, but there was still considerably high revenue growth. The actual revenue growth of 2008 was also higher than the forecasted revenue for 2008.   According to the analysis, the economic downturn did not affect any area of the organization. All regions showed revenue growth during 2007 and 2008 (see Table1.4). This growth indicates that the economy had the same impact on all areas and had no effect on the revenue growth of its products.  By analyzing each area’s revenue, we can look and see if each area has special customer behavior that may affect its revenue. For example, the Web region shows the least amount of revenue (see Graph1). This means that customers prefer an in-store experience over an online one. Customers purchasing behavior depends on geography, gender, age, and the factors of the market. There are other factors that affect customers’ buying behavior. ...
ior, and other factors, which the company should take into account either as a risk or an opportunity.  Competitive Marketplace  There is huge competition in the retail industry in the United States. The following are characteristics the marketplace for retailers:  1. Use of Information Technology:  The retail industry is now offering its products through the Web. This benefits customers who like to buy products while sitting at home. Customers can place an order on a company’s website by paying through a secure payment system and then receiving the product at their home. The Internet, particularly e-commerce, has changed how retailers run their businesses.  2. Increase in Discount Stores:  Discount stores are one of the factors behind the retail industry’s success. Nowadays, retail stores offer a money back guarantee, reduced prices, and buy-one get-one free offers.  3. Increase in Store Sizes:  Retail stores are now required to be as big as possible sp that they can have all the products that customers demand at one place.  4. Direct Marketing:  Retail stores now use direct marketing strategies to increase their sales by sending emails, messages, catalogs to their customers, and also by selling products on their websites.  5. Mergers and Acquisitions  Retailers are merging and acquiring other stores to achieve a dominant position in market; this may not be possible without a merger or acquisition. By increasing their size, a retailer creates a high barrier of new entrants, and reduces the bargaining power of customers and suppliers. The major reason for a merger or acquisition is to reduce competition in the market.  There are many competitors in the retail industry in the United States. These retailers mostly sell electronics, support products, ...Show more

Summary

Economic Conditions  The condition of the global economy during the years 2006 until 2008 was poor due to the global financial crisis. The economic conditions during those years were as follows:   1. Global industrial production quickly declined starting from 2007 until 2008 due to high oil prices  2…
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