Impact of Technology on the Retailing Business Essay

The price of gas has gone up for the 30th day in a row, and with it tempers are rising. Increased demand for public transportation is expected to continue into the spring [1]. The impact of high oil

In 2012, gas reached more than $3.50 per gallon. Today, gas averages have remained around $2.50. What I found most compelling about the pros is with every penny decline, a billion dollars is returned to customers. It is completely astonishing that one cent can have such an enormous impact. Because of the production of oil in America, low fuel cost have allowed Americans to save money and take much-needed vacations. Whether traveling by vehicle or plane, we are all much happier when we get behind the wheels of our vehicles or on a plan due to low fuel costs. On average, households are saving over $700 per year and even more if there are multiple vehicles. Americans were long overdue

The demand of gasoline has increased steadily over the last twenty years. In 1981 the U.S. averaged 6.5 million barrels of gasoline consumption per day. By comparison, in 2004 the U.S. averaged 9.2 million barrels of gasoline consumption per day. For most of this time period, gas prices stayed relatively the same. This is because the U.S. refineries increased their production to meet the demand and maintain the equilibrium price. Also during this same time period worldwide demand for crude oil increased 27%. Crude oil producers also increased their production to meet the demand keeping prices the same.

Part II Estimate the business value using BizStats. –Valuation Rule for Sporting Goods Store at BizStats.

The retail industry has been highly competitive for many years. JCP, Kohl’s, Macy’s and Sears have been clashing for some time to keep the attention of the avid shopper. It would seem that each company would be on an equal playing field, but according to the strategic group map below, Macy’s is in a group all by itself. Macy’s pricing and number of stores are different for JCP. Macy’s promotes the branding of having high class products that have celebrity names on the tags, which draws the shopper who is attracted to being in the know. The Macy’s customer is willing to pay more for their product because they know that a celebrity made this, which ultimately allows them to connect with their favorite stars. The supplier power is what helps Macy’s stay in a different category than JCP, Kohl’s, and

I’m convinced that the Oil Industry is being controlled by a group of crooks who like to yank our chain by imposing high prices on oil at every turn. Then when they have sucked and squeezed every cent out of us, all of a sudden the crooks will have a decreased of a few pennies reflected at the gas pumps.

On Friday October, 9th the House Of Representatives voted to try and reverse a ban on the exports of oil. The vote of 261 to 159 was in favor of the of bill. The bill is expected to incur a challenge in the senate and the white house. The issue is predicted to become an issue in the presidential election. The people that are not in favor of the bill say that removing the oil ban could raise gas prices however, the director of Crude Coalition, Jack Hauck, says that “every american household is saving $700 or more this year because refiners are passing on savings to U.S.

Gas prices have been decreasing in some states according to my research on google. Since there has been more oil found, we have more of a supply which means that the prices of gas will drop due to supply and demand. Now that we have more oil for gas, the supply has increased which means that even though demand is high, the prices are lower because we have that supply. It has been the lowest in years, dropping from about four dollars a gallon to about three and and a half. Even though this may seem like it isn’t important to the economy, it is because now more people can afford it so more money for the economy to make from its

I have one question regarding the retail merchandising minor. Am I not eligible to pick up a retail merchandising minor since I am a student in the College of Food, Agricultural and Natural Resource Sciences? If not, is there a possible reason for an exception since I know I can potentially see myself in a retail merchandising career after

Within the last year, oil prices in the United States have dropped significantly. As oil drilling in the United States has reached its highest level in over 30 years, consumers are reaping the benefits. Among these gains are record-low prices at the pump, and cheaper oil to heat homes. However, oil prices did not just drop on their own; multiple factors contributed to the fall. Increased domestic production, declining global demand, and competition from other oil-producing nations had led to rapidly dropping oil prices across the United States.

The chart above demonstrates that the cost for as has gone from three dollars a gallon to two dollars a gallon in view of the ascent in supply of the gas that is being created. This reasons a negative fall in the interest for fuel. While fuel costs have drop drastically because of new finding of accommodating yet unsafe approaches to get gas individuals are currently profited in their pockets yet not in the earth. As this is useful for the general population and purchasers of gas this has turned into an issue for the business sectors as interest went down they have had lost cash which prompts market disappointment. As costs went down for gas the organizations are profiting than the consistent or unique

When comparing two different ways of shopping most people do not even think about the difference, they do both and not even realize it. In today's society people shop while at work, after work and on the weekends, whenever time permits. Stop and think how can I get more time in the day for family or just myself? The best way to figure that out with all the recourses we have is to go into a store and spend time looking through racks and waiting in endless lines to just purchase something. I compared going into a store verses online shopping; to see which one will save you time and money.

The Internet has changed the way we do virtually everything, including the way we shop. However, shopping is not the only thing that has changed. In the last decade we have changed the way, we apply for loans, study, and even plan a vacation. Doing any of these things would have been impossible a few decades ago. At present, online banking, paying bills, ordering new services, and shopping online have become part of our daily lives. Traditional brick-and-mortar stores have been around much longer than online stores, but we cannot deny that online shopping is giving the traditional stores competition. Many consumers still choose to shop at regular brick-and-mortar stores because they like to see and

Retail sales was the largest industry in the United States prior to the 2000’s recession. It was the top employing industry from 2003 -2008 in nearly half of the U.S. states. Starting in 2009, every year has shown a decline in number of states where this is the top industry; as of 2013, retail was down to six from its peak of twenty-four. Retail is still a major industry but it will be interesting to discover how individual firms, specifically the largest ones, have handled this decline and what they may be doing to reverse the pattern. Kroger, Walmart, and Costco have the top revenues in the industry and are similarly categorized as well. Kroger is a supermarket, a larger grocery store with small section of general merchandise; Walmart is a hypermarket, contains a large range of products in both grocery and general merchandise; Costco is a warehouse club, also a large range of products but with a focus on selling large quantities at a discount with a small club fee. Since these three companies overlap in much of their products, there is competition between them which also adds to why they are respectable choices to analyze together.

Technology provides many benefits to the retail industry and its managers; it also has drawbacks. Implementing new technologies presents learning curves for managers, staff, and team members and introduces new areas of risk (Davis, 2007). Some team members can be resistant to changes causing retailers to lose time