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Data Analysis

  • Date Submitted: 07/24/2014 04:12 PM
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RMG 700   - Applied Retail Research

Data Analysis Assignment

I. Introduction
Today more than ever, there is a major and constant fear of an impending recession in Canada’s economy. A recession is a decline in any given country’s Gross Domestic Product (GDP) for two or more consecutive quarters of a year. A recession normally takes place when consumers loose confidence in the growth of the economy and spend less. This leads to a decrease in demand for goods and services, which in turn leads to a decrease in productions, lay-offs and a sharp rise in unemployment rate. Inventors spend less as they fear stock values are likely to fall and thus stock markets fall on negative sentiment. Recessions may also be associated with falling prices or sharply rising prices. During recession consumer face a tough time fulfilling all their needs due to lack of income. Rising costs of food and basic daily items cause consumer more difficulties. When consumer spends increase portions of their monthly budget on necessities such as food, it leaves them less money to pour into the economy to help offset an economic slowdown (Borrington, 2011, p.55-75).
In this report we will analyze the impact of recession on consumer’s spending on big tickets, such as cars and washing machines. As stated above, during recessions, consumers often change their spending behavior because of the amount of disposable income available to consumer is low. This in turn leads to reduced spending power. At this point, consumers buy only those products that offer them real value for their money. This means that consumers will only buy what is necessary at a time, which lead to postponement of expansive purchases.
II. Summary of Understanding the Post-Recession Consumer
By understanding how consumers have behaved in previous recessions; how this compare; and how their past experience will affect their response this time, we can predict how consumers will behave postrecession.   There are eight important...

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