TUGAS BAHASA INGGRIS

How Economic Factors Affect Consumer Behavior Are you losing customers and blame online sales?

When I visit businesses with slow sales I hear many excuses for why they have so few customers this month. It seems they are willing to blame online sales, the local government policies, or even the local council. Their comments only serve to highlight the fact they do not understand that the current economic factors have more to do with the customers behaviour than any of those other factors. Money is not spent if the customer is worried about their future. The single biggest factor for consumer behaviour spending patterns is how secure they feel their short-term future is regarding savings, employment and home payments. The more insecure they feel about the economy, the more they will pay down debt or keep money for the rainy days. This ‘happiness’ factor is measured by the consumer confidence index which is reported daily showing how secure the consumer believes the future is. When the CCI goes over 100 points, customers will spend. If the CCI goes under 100 the customers stop spending.

How the economy affects the consumer behaviour?

The consumer is bombarded with messages of doom & gloom from the newspaper and other news media telling them all about the problems in the world. Currently we have concerns with ;

– Eurozone debt and several countries in recession

– Declining natural resources and climate warning

– Instability in several governments causing public unrest & armed violence

– Over a 20% drop in Australian super and shares

– Loss of primary industries with large scale unemployment happening almost weekly since start of 2012

Business owners need to pay attention to these economical factors. Mortgage payments are often the largest expense a customer has and will not risk losing their home just to take a chance and buy your products. When there is uncertainty in the mortgage rates, sales will decline in most sectors. The instability of employment in manufacturing, financial services and construction sectors will cause customers to focus on what would happen if they lost their employment. So they start saving money for their possible unemployment and spend it on career change prospects like training in new skills. Due to the high costs of aged care and related retirement expenses many consumers are looking ahead to their future by investing in superannuation and/or shares to be financially secure. With the global recession and collapse of some international organisations thought to be secure from the economy wobbles,  super funds have lost millions of consumers financial net.

What the current economy means to your customers?

They are unsure if they will be able to keep the family home, pay for their retirement and even if they will have a job in the next six months. So the consumer goes into survival mode by saving money and stopping all unnecessary spending. As a business owner or manager you need to pay attention to the local economic factors as they will mean the difference between meeting your sales targets or not.

part of speech

Noun	Pronoun	Verb	Adjective	Adverb	Preposition	Conjunction
Businesses	I	Visit	Slow	When	With	Or
Sales	You	Hear	Many	Why	For	And
Excuses	We	Have	Few	How	That
Customers	They	Seems	Online	So	Than
Month	Your	Blame	Local	Even	Of
Government	Their	Serve	Current	Only	If
Policies	Them	Highlight	Economic	Not	About
Council	It	Do	More	Currently	By
Comments	What	Understand	Other	Almost	Over
Fact		Spent	Single	Often	Under
Factors		Worried	Biggest	Just	In
Behaviour		Feel	Secure	Ahead	Since
Money		Regarding	Short-term	Financially	On
Future		Pay	Rainy		So
Consumers		Keep	Several		Like
Patterns		Measured	Natural		From
Savings		Reported	Public		As
Employment		Showing	Armed		Between
Home		Believes	Australian
Payments		Goes	Super
Insecure		Stop	Primary
Economy		Affects	Large
Debt		Bombarded	Weekly
Days		Telling	Economical
Happiness		Declining	Most
Confidence		Causings	Financial
Index		Happening	Possible
Points		Need	New
Massages		Risk	Due
Doom		Losing	High
Gloom		Take	Related
Newspaper		Buy	Global
News		Focus	International
Media		Lost	Unsure
Problems		Start	Able
World		Spending	Next
Concerns		Saving	Unnecessary
Eurozone		Aged
Countries		Looking
Recession		Investing
Resources		Thought
Climate		Be
Warning		Wobbles
Instability		Means
Unrest
Violence
Drop
Shares
Loss
Industries
Scale
Owners
Attention
Mortgage
Expense
Chance
Products
Uncertainty
Rates
Sectors
Manufacturing
Services
Construction
Career
Change
Prospects
Training
Skills
Costs
Care
Retirement
Superannuation
Collapse
Organisation
Funds
Milions
Net
Family
Survival
Mode
Job
Manager
Difference
Meeting
Targets

sentence :

1.    I hear many excuses. (Present Tense)

2.    The CCI goes over 100 points. (Present Tense)

3. They are willing to blame online sales. (Present Continous)

4. They will pay down debt or keep money for the rainy days. (simple Future)

5. They will be able to keep the family home. (Simple Future)

6. The consumer is bombarded with messages of doom & gloom from the newspaper. (Past Tense)

7. The global recession and collapse of some international organisations thought to be secure from the economy wobbles. (Past Tense)

8. Super funds have lost millions of consumers financial net. (Past Perfect)

9. The consumer goes into survival mode by saving money. (Present Tense)

10. They will have a job in the next six months. (Simple Future)

 OYASHO SIRAJ//1EA04//14219983