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Local Business and Gentrification: Using Online Market to Increase Competitiveness

In: Proceedings of the International conference of Economics Business and Economics Education Science (ICE-BEES-24)

Author

Listed:
  • 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)

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.

Suggested Citation

  • Thomas Soseco & Ni’matul Istiqomah & Victor Rumere, 2024. "Local Business and Gentrification: Using Online Market to Increase Competitiveness," Advances in Economics, Business and Management Research, in: Kris Brantas Abiprayu & Avi Budi Setiawan (ed.), Proceedings of the International conference of Economics Business and Economics Education Science (ICE-BEES-24), pages 700-708, Springer.
    • Handle: RePEc:spr:advbcp:978-94-6463-522-5_53
    DOI: 10.2991/978-94-6463-522-5_53
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