How are Millennials Shopping Online - Free Essay Example

How are Millennials shopping online this holiday season? Overview In the US, the competitive nature among retailers to take control of sales is slated to rise as reasonable growth in consumer spending is expected. The millennial population observed to be a main target for companies to be focal point on, as they have a significant spending capability, accounting for a $600 billion figure related to the consumer spending phenomenon as observable in the United States of America. This article reviews a 2018 Accenture Holiday Shopping Survey, modes as well as trends associated with shopping for the period of the holiday season.. 12th yearly Accenture Holiday Shopping Surveys The twelfth yearly Accenture connected forecast that USA shopper disbursal can boost with this years sale amount which Millennial Population are going to be the key spenders, influenced by inclusion yet as Social Networking Sites platforms As per the research firm, the foremost recent Accenture Survey established that Americans can pay on regular basis US$658 on shopping during the holidays, an increase from a mean of US$632 compared to the previous year. Retailers diversity practices with regard to gender; age, ethnicity etc can play an important role in creating a call wherever Millennial Population pay their cash. Retailers should have a social yet as political responsibility as regards diversity and fifty one percent of Millennial Population is probable to hunt out retailers that show an awareness of this. In-store ability, product vary, selection within the work, furthermore environmental awareness was additionally found to play a responsibility in Millennial Population buying choices. The survey additionally discovered that nine out of ten set up participants to pay the maximum amount as otherwise quite preceding year. Grown-up Millennial Population decide to pay within the region of $779 for the period of the vacations, with forty nine percent of younger Millennial Population additionally about to expend this season than the preceding year. Along with company responsibleness and variety, Millennial Population are going to be influenced by Social Networking Sites meant for his or her vacation disbursal. Modes of shopping for the period of the 2018 holiday season by Millennial Population Smartphones correspond to Millennial Population closest shopping aids The prevalence of smartphone and tablet usage amongst Millennial Population has contributed considerably to the rising trend of mobile shopping. Software Company Instart observed that eight percent of customers shop directly from mobile devices and almost seventy percent of millennials will wait for a period lesser than five seconds for a page to load. Creating a speedy, insightful furthermore well-designed mobile experience is essential to this holiday season furthermore beyond. Millennial Population make use of social networking and media Close to fifty percent of Millennial Population surveyed in a study will utilise some Social Networking Sites outlet as element of their shopping strategy. Among this group, nineteen percent will consult Facebook to assist them make decisions concerning gift selections, while fourteen percent will turn to Pinterest and seven percent will head to Twitter. The Millennial Population daily use of Social Networking Sites is driving retailers to involve consumers. For the duration of the holiday season, we can look forward to special offers, notice of promotions and other announcements from the brands. Millennial Population decide on the Internet for major holiday shopping Online shopping is in the limelight this season as retail experts forecast it will be at its peak. It is estimated that the average consumer will complete forty four percent of their holiday shopping on the internet, the maximum in view of the fact that the organization commenced about 15 years ago. Of the ninety percent of shoppers estimates will shop on the internet this season, fifty eight percent will be Millennial Population, representing once more the maximum of some other age group At the present, its very vital for retailers to additionally rethink as well as redesign their digital shopping capabilities moreover methods so they can meet up with customers on their terms and conditions. Trends in Millennial Shopping related to the Holiday Season This demographic is switching to technology to complete their shopping. Millennial Population will be involved in a heightened inclination toward shopping on the internet; sixty percent of those surveyed mentioning their plans to shop on their computers plus fifty percent having plans to shop with the aid of a mobile device. This is seven percentage points higher in equally cases than the share of Gen Xers who have plans to make use of the devices. As such, retailers should make certain their online experiences are as speedy and faultless as probable. And at the same time as web site performance is enormously significant, retailers cant ignore their apps either, as sixty three percent of consumers will abandon an app that involves more than 5 seconds to function leading to lost sales as far as the retailer is concerned. Millennial Generation is more likely to return gifts than consumers in broad-spectrum. Approximately half of all consumers admit to having exchanged a gift in addition to purchasing an additional item, on the other hand among Millennial Generation above all, this number increases to seventy four percent. On the retailer front, this implies that establishing an easy returns process is almost certainly observed to be a well-built scheme to make a first-rate impression on this demographic. Also, retailers could think about offering the capacity to accommodate the returns of online purchases in stores. Consumers who are occupied in purchase items online moreover purchase them in-store over and over again make supplementary purchases while there, and this benefit could widen to shoppers making returns related to the store as additionally observed. Loyalty, it is observed and in addition rewards programs are important to them. An huge ninety five percent of Millennial Generation say that theyre additionally loyal to stores where theyre rewards members, whats more thirty three percent say that they have plans to save US$200 or greater this season by the usage of their rewards. As is observed that the holiday season approaches, retailers possibly will want to think again their rewards programs and make definite theyre as appealing as likely, as further customer loyalty is in particular significant during the holidays when consumers are spending additionally and the competition is more dominant. In addition, gaining loyalty members has benefits yet subsequent to the holidays, as customers will still be signed up when the season has come to an end. Conclusion Millennial Generation is planning to start their shopping in advance. Seventy four percent of millennial respondents said that they aim to get started on their holiday shopping prior to otherwise on Black Friday. This proposes that retailers such as Walmart as well as Best Buy that are by now offering Black Friday deals online are on track for accomplishment. On the other hand, companies that are not by now ramping up for the holidays must start on speedily doing so, as a delayed start could imply that the Millennial Generation who do shop these stores sales will have by now completed a component of their holiday shopping, resulting in smaller amount sales related to these retailers. 2018 Cyber Monday shopping is anticipated to rise by four percent to thirty one percent, from twenty seven percent the year preceding.

Management Term Paper on Organisational Behaviour and HRM - 3025 Words

Management Term Paper on Organisational Behaviour and HRM (Term Paper Sample) Content: Organizational Behaviour and Human Resource ManagementStudents nameUniversityTable of Contents TOC \o "1-3" \h \z \u 1.0Introduction PAGEREF _Toc492648069 \h 32.0 Research problem PAGEREF _Toc492648070 \h 33.0 Literature on Organizational Behaviour and Human Resource Management PAGEREF _Toc492648071 \h 44.0 Discussion of DNT Case PAGEREF _Toc492648072 \h 75.0 Conclusion and Recommendations PAGEREF _Toc492648073 \h 12References PAGEREF _Toc492648074 \h 14 1 IntroductionSuccess of any organization depends on its ability to align human resources to organizational strategy. Through creating different structures, groups of people work together to achieve the overall goal. Ekene (2013) argues that human resource management has been changing slowly over the years to become a strategic and integrated approach concerned with managing resources and actualizing organizational goals. This defines organizational behaviour and human resource management as a way of putting in place different factors that can create an environment and at the same increase output. Scholars of human resource management and organizational behaviour have analyzed both organizational and individual related factors that have an impact on the achievements of the organization (Cania, 2014). Research indicates that organizations that are performing well in the global market are leaders in organizational behaviour and human resource management. This is because employees play a critical role in meeting organizational goals and organizational strategy.2.0 Research problemStudies in both human resource management and organizational behaviour have indicated that one way of creating a stable and strategically aligned process is through proper recruitment process and recruitment from within. Bibi, Pangil Johari (2016) argue that recruitment and selection of employees focus on balancing between employee concerns and organizational concerns to hire individuals that strategically fit in the orga nization. Graduate recruitment has been used by many organizations as a way of tapping young and energetic talent that can be relied in future. Different organizations will have different stages of recruitment and selection through which potential applicants go through to be accepted as employees CITATION War15 \l 1033 (Burke Noumair, 2015). These strategies will focus on different elements that are analyzed to determine employee abilities and the benefits that they bring to the organization. Through graduate recruitment, promotion from within and reduced employee turnover, organizations are able to build strong teams for the future. DNT industries Inc has employed several human resource management strategies as a way of improving organizational effectiveness and employee performance. This essay highlights key issues in graduate recruitment from the employers perspective through study of relevant literature, identifying key challenges and suggesting recommendations that can be app lied in the case.3.0 Literature on Organizational Behaviour and Human Resource ManagementHuman resource alignment entails integrating organizational decision making with organizational goals. The relationship between organizational behaviour and human resource management has been based on the fact that the latter can be used to the former. Aslan, Kocabacak, Guiven (2013) argue that human resource practices employed in any organization create psychological links between organizational and employee goals. Every employee who is recruited has a set of expectations that they intend to fulfil and at the same time benefit from the organization. Human resource managers need to ensure that the link between employee and organizational goals is fostered to improve performance CITATION Mic14 \l 1033 (Armstrong Tyalor, 2014). Many organizations have graduate recruitment programs that are used to tap young talent from the job market and bring such skills to the company. During recruitment, young applicants go through a vetting process that will vary from one organization to another. This ensures that the best brains and the ones that can be aligned with the strategic goals of the organization are picked. Recruitment is always an expensive process and thus the right candidates have to be picked at the initial stage of development.Employee recruitment is a core function of human resource management that attracts, selects and appoints suitable candidates for various jobs within the organization. Every employer will seek to recruit employees that they can easily retain rather than the ones that will increase turnover CITATION Ats13 \l 1033 (Yashiro, 2013). There are several approaches in recruitment that entail both internal and external strategies. Internal recruitment processes focus on selecting of employees from the existing workforce through promotion or other forms of career development. Several theories have been advanced to help understand the process of recruitm ent. Grounded theoriests base their arguments open approaches that allow participants to speak freely as a way of justifying their abilities. Through allowing applicants to freely interact with the interviewer, Long (2012) suggests that a proffesional relationship is established between the interviewer and the applicant that focuses on the reasons for applying the job. Through personal face to face interviews, grounded theoriests suggest that adequate information is collected on potential employees before they are recruited into the organization.Attribution theoriests suggest that the employer needs to predict an applicants future success based on the available recruitment process used in the organization. Long (2012) adds that through using several instruments like resumes, biographies and application letters, key information is gathered from the potential applicant to determine their expectations and how they can be be aligned with the organizational strategy. Therefore, attributi on theories focus on behaviour that is attributed to certain situational factors that may relate to the organization. Attribution relates to the applicant and the employer abilities to identify the needs of each other and find a way to compliment such needs.Other aspects of employee recruitment focus on promotion from within as a way of developing a stable human resource personnel. This is attributed to the Japanese employment system that focus on skill formation CITATION Ats13 \l 1033 (Yashiro, 2013). According to Bibi, Pangil, Johari, (2016) employee retention is a precious asset that every organization seeks to achieve. This is a competitive advantage that firms have over others, since the cost of recruitment are higher than promoting from within. Promotion and retention is a way of motivating employees by promising them a future of career development from within. Bibi, Pangil Johari (2016) state that job embeddedness is one of the strategies utilised through a combination of forces that make it easy to retain employees. Job embeddedness theory is based on the fact that there are non-affective behaviours that play a critical role in employee retention. Reduced turnovers within an organization are based on employee motivation factors that satisfy their needs.Employee motivation is based on several factors that are both intrinsic and extrinsic. Every employee has personal needs that need to be met by the organization at every point of their career. When such needs are not met, employees turnover increases. In his hierarchy of needs, Bibi, Pangil, Johari (2016) state that Maslow proposed a set of needs that every human being aspires to meet at every stage in their life. As employees stay in the organization, their needs and expectations keep increasing as they move up the ladder. Job security is one of the critical factors that affect employee turnover. Employees whose jobs are secure have lower turnover rates as compared to others CITATION Asi12 \l 1033 (Gul, Akbar, Jan, 2012). On the other hand, promotions will increase the position or status of the employee which will come with other benefits attached to it.There is a close relationship between human resource and organizational strategy when it comes to organizational development. Every organization seeks to ensure that its employees are aligned with its organizational strategy to achieve a strategic fit within the organization CITATION War15 \l 1033 (Burke Noumair, 2015). However, sometimes there may be need for organizational change to achieve new strategies that are set. Employee recognition has been widely used as an effective tool for organizational change and development. Through describing the roles of each employee, key areas can easily be changed in the organization to align them to specific needs of the organization. Since the business environment is dynamic and unpredictable, organizations need to align themselves towards new changes that may be planned or spontane ous.This literature reveals that there is a close relationship between organizational behaviour and human resource management. Organizational behaviour focuses on human behaviour and the settings in which they operate in while human resource management focusses on effective and efficient management of available personnel within the organization. From the job analysis stage to recruitment and selections, human resource management ensures that the right employees are given the right jobs. These employees have to be aligned with the organizational goals and objectives and ensure that every aspect of their work revolves around organizational strategy. Different strategies like promotion from within may be employed to achieve organizational and employee development. This leads to accrued benefits like higher performance, reduced turnover, job security and motivated employees.4.0 Discussion of DNT Cas...