Local Business and Gentrification: Using Online Market to Increase Competitiveness

Thomas Soseco (), Ni’matul Istiqomah and Victor Rumere
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Thomas Soseco: Universitas Negeri Malang, Faculty of Economics and Business
Ni’matul Istiqomah: Universitas Negeri Malang, Faculty of Economics and Business
Victor Rumere: Universitas Papua, Faculty of Economics and Business

A chapter in Proceedings of the International conference of Economics Business and Economics Education Science (ICE-BEES-24), 2024, pp 700-708 from Springer

Abstract: Abstract Local businesses in gentrifying areas face opportunities due to the changing pattern of consumers’ demographic characteristics and increased purchasing power. At the same time, upgrading infrastructure leads to better connectivity and logistics, resulting in convenience for the online shopping experience. Often, this condition increases pressure for businesses to stay in the market. To explore threats and opportunities for businesses due to online shopping in gentrifying areas, we briefly look at characteristics of online users that local businesses can utilise to respond. This conceptual note provides insight into how gentrification is still required to increase the population’s quality of life. At the same time, businesses should increase consumer experience in the online market through innovation, product diversification, and global orientation. Further investigation should be expanded by decomposition across classes, for example, business size, market size, and knowledge and technological levels, as the impact might be experienced differently across classes.

Keywords: Gentrification; Online Shopping; Consumer Experience; Innovation Introduction (search for similar items in EconPapers)
Date: 2024
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DOI: 10.2991/978-94-6463-522-5_53

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