The Impact of Digital Media on Consumer Spending Essay examples -- Con

The impact of digital media on consumer spending has had a positive and negative impact on the average consumer. While digital media has opened up new businesses and career fields, simultaneously it has closed and decimated traditional â€Å"brick and mortar† establishments, decreasing the need for sales professionals. Many years prior to the affordability of personal computers in the 1980s, consumers were hunter-gatherers, whereas their actual jobs were hunting and gathering food for everyday subsistence. Once humankind evolved, trading and bartering came into play along with an increased level of occupational specialization. As the world population increased, natural resources decreased, innovation and transportation systems improved, and trade became the vehicle for survival and wealth building. Fast forward to present day, and we can see three major impacts digital media has had on consumer spending, the ease of accessibility for the consumer, the financial benefit to the online retailer, and the impact to the traditional â€Å"brick and mortar† establishments. Seeing that we are becoming more of a sedentary society, ease of accessibility is critical in the influencing consumers spending habits. Fast food restaurants, microwave foodstuffs, and â€Å"instant† products all have one major advantage to the consumer†¦they save time. Consumers spend an average of 8.6 hours working per day (Labor), therefore with only 24-hours in the day; any product or process that can save precious minutes could be destined for success. Online shopping is only a few clicks away, and the product you select will be at your doorstep in a relatively short period. Additionally, with internet accessibility, consumers spend less time and resources researching products... ...rt journey towards insolvency. Works Cited Internet Retailer, Portal to E-commerce Intelligence. (2012). Trends and Data, Consumers. Chicago, IL: Retrieved from http://www.internetretailer.com/trends/consumers/ Internet Retailer, Portal to E-commerce Intelligence. (2012). Trends and Data, Sales. Chicago, IL: Retrieved from http://www.internetretailer.com/trends/sales/ United States Department of Labor, Bureau of Labor Statistics. (2011). American Time Use Survey. Washington, DC: Retrieved from http://www.bls.gov/tus/charts/ Hubbard, R. G., & O’Brien, A. P. (2010). Macroeconomics. (3rd ed.). Boston, MA: Pearson. United States Department of Commerce, Census Bureau, and International Trade Administration; Advocacy-funded research by Kathryn Kobe (2007). Washington, DC: Retrieved from http://www.sba.gov/advo/research/rs299.pdf The Impact of Digital Media on Consumer Spending Essay examples -- Con The impact of digital media on consumer spending has had a positive and negative impact on the average consumer. While digital media has opened up new businesses and career fields, simultaneously it has closed and decimated traditional â€Å"brick and mortar† establishments, decreasing the need for sales professionals. Many years prior to the affordability of personal computers in the 1980s, consumers were hunter-gatherers, whereas their actual jobs were hunting and gathering food for everyday subsistence. Once humankind evolved, trading and bartering came into play along with an increased level of occupational specialization. As the world population increased, natural resources decreased, innovation and transportation systems improved, and trade became the vehicle for survival and wealth building. Fast forward to present day, and we can see three major impacts digital media has had on consumer spending, the ease of accessibility for the consumer, the financial benefit to the online retailer, and the impact to the traditional â€Å"brick and mortar† establishments. Seeing that we are becoming more of a sedentary society, ease of accessibility is critical in the influencing consumers spending habits. Fast food restaurants, microwave foodstuffs, and â€Å"instant† products all have one major advantage to the consumer†¦they save time. Consumers spend an average of 8.6 hours working per day (Labor), therefore with only 24-hours in the day; any product or process that can save precious minutes could be destined for success. Online shopping is only a few clicks away, and the product you select will be at your doorstep in a relatively short period. Additionally, with internet accessibility, consumers spend less time and resources researching products... ...rt journey towards insolvency. Works Cited Internet Retailer, Portal to E-commerce Intelligence. (2012). Trends and Data, Consumers. Chicago, IL: Retrieved from http://www.internetretailer.com/trends/consumers/ Internet Retailer, Portal to E-commerce Intelligence. (2012). Trends and Data, Sales. Chicago, IL: Retrieved from http://www.internetretailer.com/trends/sales/ United States Department of Labor, Bureau of Labor Statistics. (2011). American Time Use Survey. Washington, DC: Retrieved from http://www.bls.gov/tus/charts/ Hubbard, R. G., & O’Brien, A. P. (2010). Macroeconomics. (3rd ed.). Boston, MA: Pearson. United States Department of Commerce, Census Bureau, and International Trade Administration; Advocacy-funded research by Kathryn Kobe (2007). Washington, DC: Retrieved from http://www.sba.gov/advo/research/rs299.pdf