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Online purchasing (i.e - Leaving Cert Economics - Question 3 - 2013
Question 3
Online purchasing (i.e. using the internet) by Irish consumers is growing annually. (Irish Independent, October 2012) Outline one reason for this development and s... show full transcript
Worked Solution & Example Answer:Online purchasing (i.e - Leaving Cert Economics - Question 3 - 2013
Step 1
Outline one reason for this development
Answer
One significant reason for the increase in online purchasing by Irish consumers is the greater choice available than in traditional retail settings. With online platforms, consumers can easily compare products and prices from various retailers without geographical constraints. This access to a wider variety enables consumers to make informed purchasing decisions tailored to their preferences.
Step 2
State one economic effect for Irish retailers
Answer
One economic effect of this trend on Irish retailers is a potential increase in possible increased sales. As more consumers transition to online shopping, retailers can tap into this growing market, which often results in higher sales and profits, as they cater to the convenience and preferences of their customers.