The digital economy

Question 1

What is the fastest growing retail market in Europe?

Answer 1

E-commerce.

Question 2

How many adults used the internet in 2020 in comparison to 2014?

Answer 2

92% in 2020.
76% in 2014.

Question 3

What are three sources of market information in the digital economy?

Answer 3

Price comparison sites.
Viral marketing.
Social media.

Question 4

How do price comparison sites help the digital economy?

Answer 4

Consumers can identify the best deals to accommodate their demand, and helped to increase consumer knowledge.

Question 5

How does viral marketing help the digital economy?

Answer 5

The use of the internet to promote a good/service or business is often free and can encourage consumers to share information.
It is also a good modern way for lots of people to become aware.

Question 6

How does social media help the digital economy?

Answer 6

Using social media to inform/influence customers on a good/service or a business can be used from both an activist and marketing lens to achieve business aims.