COVID-19 turbulence and positive shifts in online purchasing by consumers: modeling the enablers using ISM-MICMAC analysis

Abstract

Purpose Suppliers and marketers have started planning toward postpandemic scenarios where logistics and retail will happen in a new way with the help of technological advances. This shift means new challenges for manufacturers, suppliers and retailers, and there is a need for strategic sourcing decisions for a robust supply chain system, logistics and on-time delivery system, as consumers have shown a positive change in online buying behavior. Furthermore, with digital transformation, customers are expected to not return to traditional buying. Hence, it becomes essential to identify the factors acting as enablers of online purchase behavior for sustainable digital business. This study aims to analyze the positive shifts in online purchasing by consumers, identify and model the enablers of positive transformations in online purchasing by consumers. Design/methodology/approach The interpretative structural modeling (ISM) technique is used to draw the interrelationships among the variables and their impact on online buying. A context-oriented relationship among the factors has been set up through the expert opinion technique. A total of 40 specialists have been approached for this. ISM with Matrice d’impacts croisés multiplication appliquée á un classment (MICMAC) analysis was used to prioritize these drivers, identify the most critical factors and establish a driver-dependence relationship among these drivers. Findings Several significant categories of enablers like health, trust, convenience, work from home, referral buying, panic purchase and overstocking possess a strong influence on the shift to online due to the pandemic. The results will help the policymakers, suppliers, retailers, managers and practitioners with insights to plan, prepare for challenges and make decisions toward preparation and shifting to the emergent digital world. In addition, the study provides academicians scope for further research in the related area. Research limitations/implications Consumer behavior significantly impacts retail and supply chain business, as it is an interface with the customer and links between a manufacturer and a customer. This study provides an insight into the shift in purchase behavior which can help suppliers in this transition phase to be better prepared for tomorrow to achieve sustainable competitive advantage. Originality/value This study assists practitioners and researchers in understanding the interrelationships among the factors using ISM-MICMAC analysis in a realistic way rather than daydreaming with overambitious goals.

Predicting Indian electricity exchange‐traded market prices: SARIMA and MLP approach

“…Despite these policy initiatives and amendments in the market structure, this niche market still experiences various issues such as a huge demand–supply gap, instability in the electrical grid, lesser volume traded in evolved markets and lack of efficient risk management practices (Roy & Basu, 2020). When compared with the volumes traded in the European exchange‐traded market, which range from 23% to as high as 88% in the year 2015 (Gupta et al, 2020; Sharma et al, 2023), it represents a meager 3–4% of the total power generation as of 2019–2020 in India. This low trading volume leaves room for a greater scope of research in the Indian ST electricity market.…”