BA506 Economics Discussion Essay Assignment
Order ID 53563633773 Type Essay Writer Level Masters Style APA Sources/References 4 Perfect Number of Pages to Order 5-10 Pages Description/Paper Instructions
BA506 Economics Discussion Essay Assignment
DQ1
What role do various levels of government play in facilitating economic development and economic growth?
DQ2
What is a SWOT analysis? What are the external threats? How are they related to economic issues, trends, and policies?
R1
One of the major economic trends from the Vistage Reports is retail being pushed towards more of ecommerce approach on how they conduct business. This trend was already in the works for a lot of retailers but the covid19 pandemic pushed retailers like Walmart to speed up their digital transformation. Walmart’s third quarter showed “In-store traffic dropped 14% while ecommerce sales were up 79%” (Emmer, M.). Due to people staying home and going out less during the pandemic, retailers were forced to invest more into their online sales. When consumers did come to the store, they came less often while also only stocking up mostly on staples (Emmer, M.). Before the pandemic, clothing store retails were already in danger of having to close shop due to online shopping.
To build on to their commercial sales, Walmart launched a new express delivery service across almost a thousand stores in May of 2020. With less people coming into the store, they needed to find a way to reach their consumers. “Express Delivery allows customers to order across more than 160,000 products from Walmart’s food, consumables and general merchandise assortment” (Melton, J.). This allowed Walmart to provide a no contact service for their shoppers. They are able to order their items online to be delivered through services like DoorDash and Postmates with an express fee of additional ten dollars. This also caused Walmart to increase their curbside pick up operations as well as more and more consumers are wanting to shop more online.
Not only has Walmart increased their online orders, but so has HyVee during the pandemic. HyVee also quickly realized they needed to improve their ecommerce sales to accommodate to the growing demand from consumers to shop online. HyVee’s CEO Edeker said “E-ecommerce had, of course, been gathering pace for several years, but Covid really put that acceleration on steroids” (Goldschmidt, B.). To push their curbside pickup was already on the way, but the pandemic pushed them to move forward with their plans faster than expected. At 150 of their largest locations, they put into motion to add pickup stations dedicated to their curbside pickup service. They currently only have 116 of these stations completely built (Goldschmidt, B). Retailers have known for a while online shopping was becoming more of a demand throughout the years, but the pandemic forced it to have a surge in demand.
Emmer, M. (2020, December 17). Economic trends facing business in 2021 and beyond: Vistage. Vistage Research Center. Retrieved November 1, 2021, from https://www.vistage.com/research-center/business-financials/economic-trends/20201208-economic-trends-facing-business-in-2021-and-beyond/.
Goldschmidt, B. (2021, March 10). How hy-vee plans to grow. Progressive Grocer. Retrieved November 1, 2021, from https://progressivegrocer.com/how-hy-vee-plans-grow.
Melton J. (2020, October 27). Prompted by the coronavirus pandemic, Walmart launches 2-hour delivery. Digital Commerce 360. Retrieved November 1, 2021, from https://www.digitalcommerce360.com/2020/05/04/prom…