Shopping is a leisure time activity carried out by individuals in economies around the world. Purchasing goods is the fundamental underlying concept of the supply and demand theory. Consumers are willing to pay the price for goods and services they demand.
Over time the channels for distribution of such goods and services have changed, consumer preferences have changed as too has technology. As individual’s life styles become more hectic, consumers aim to become more rational and seek to maximise their utility. There exists a desire to become more efficient. What if changes in technology allowed for this? Would there be a shift of demand from one channel to another?
This study attempts to answer this question by looking closely at the determinants of retail sales and whether the downtrend of late is related to the rise of consumers shopping on the internet. Findings from this study will endeavour to answer the questions and concerns expressed by the media and retail sector.
1. Introduction
2. Literature Review
Demand for retail shopping
Demand for online shopping
Comparing online and retail shopping
3. Methodology
Retail Sales and Congestion Charge Econometric Study
Data Sources
Retail Sales
Internet connectivity
Overseas Visitors to the UK
Inflation
The Economy (Unemployment)
Exchange rate (UK £ to US $)
Seasonal Dummy Variables
4. Empirical Analysis
Diagnostic Tests
Results from the analysis
5. Conclusions
6. References
7. Appendix Section
Appendix 1 – Summary statistics in Congestion Charging Model
Appendix 2 – Summary Statistics in Empirical Model
Appendix 3 – Linear Regression
Appendix 4 - Log-Linear Regression
Appendix 5 – Differenced Log-Linear Regression
Appendix 6 – Correlation Matrix
Appendix 7 – Regression Excluding Unemployment
Appendix 8 – Regression Excluding CPI
Appendix 9 – Regression Excluding Seasonal Dummies
Bibliography
Download Here: Dissertation
Over time the channels for distribution of such goods and services have changed, consumer preferences have changed as too has technology. As individual’s life styles become more hectic, consumers aim to become more rational and seek to maximise their utility. There exists a desire to become more efficient. What if changes in technology allowed for this? Would there be a shift of demand from one channel to another?
This study attempts to answer this question by looking closely at the determinants of retail sales and whether the downtrend of late is related to the rise of consumers shopping on the internet. Findings from this study will endeavour to answer the questions and concerns expressed by the media and retail sector.
1. Introduction
2. Literature Review
Demand for retail shopping
Demand for online shopping
Comparing online and retail shopping
3. Methodology
Retail Sales and Congestion Charge Econometric Study
Data Sources
Retail Sales
Internet connectivity
Overseas Visitors to the UK
Inflation
The Economy (Unemployment)
Exchange rate (UK £ to US $)
Seasonal Dummy Variables
4. Empirical Analysis
Diagnostic Tests
Results from the analysis
5. Conclusions
6. References
7. Appendix Section
Appendix 1 – Summary statistics in Congestion Charging Model
Appendix 2 – Summary Statistics in Empirical Model
Appendix 3 – Linear Regression
Appendix 4 - Log-Linear Regression
Appendix 5 – Differenced Log-Linear Regression
Appendix 6 – Correlation Matrix
Appendix 7 – Regression Excluding Unemployment
Appendix 8 – Regression Excluding CPI
Appendix 9 – Regression Excluding Seasonal Dummies
Bibliography
Download Here: Dissertation