Discussion: The Only Thing Constant Is Change
In your initial post, identify one current event that you believe is affecting how consumers are making buying decisions. Then, address the following:
Briefly summarize the current event and the specific ways in which it is broadly affecting consumer behavior.
Describe how the current event has specifically affected your own purchasing decisions.
In your replies to at least two peers, describe one data-collection tool that could be used to evaluate the actual impact the current event is having on consumer behavior or preferences. Indicate whether the tool reflects quantitative or qualitative data.
Peer 1
A current event that has affected how consumers are making buying decisions is the ransomware attack on Colonial Pipeline. In May of this year Colonial Pipeline was the target of a cyber attack which caused them to shut down their gasoline pipeline that provided almost half of the east coast’s fuel supply. There was a brief fear that the east coast would run out of gas because one of the main suppliers shut down, and the price of gas on the east cost started to quickly climb. When the public heard the news of what was happening and saw the prices start to go up it caused people to panic and start mass-buying gasoline. This event affected me specifically because I started going out of my way to find gas stations with the lowest price. I would fill up my car if I came across a gas station with a decent price even if I didn’t have to get gas quite yet, or I would push it to the last mile I could until I was forced to fill up. The pipeline is back up and running, but the prices have stayed relatively high.
Peer 2
Hello class, it’s great to be nearing the end of the term. The pandemic is a current event that I believe is affecting how consumers are making buying decisions. In the beginning of 2020, the Covid-19 virus quickly spread throughout the United States. The government began issuing mandatory restrictions and curfews to curb the spread of the virus. Masks became mandatory in most places and social distancing made public shopping difficult and dangerous. The risks involved with physically shopping resulted in people doing more online shopping. Shopping from home reduced the possibility of contracting the virus or coming into contact with another contaminated individual. It became normal to order things and have them delivered. Options such as Door Dash, and curbside pickup from retail stores became a staple during the quarantine life.
My own purchasing decisions have been affected by the pandemic, causing me to buy more items more often, for fear of a shortage or running out. Common household products such as toilet paper and bleach were bought in bulk from a fear of not being able to purchase them later. I also use Amazon more often than before the pandemic. Covid-19 has drastically changed my habits, forcing me to shop more often from home. I appreciate everyone’s time.
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