Using Google Trends in Modelling Sales and Household Consumption Behaviours
Keywords:
Google Trends, Related topics, Sales performance, Household consumptionsAbstract
From the keyword search “sale” in Google Trends, this research aims to re-examine the association between Google Trends keyword search and related topics in order to develop a marketing strategy towards sale performance and household consumption. The study analysed sales performance and household consumption using data during the period 2007-2020. The methodology was divided into two stages, the first of which involved identifying the relevant dimensions of five related topics using the ordinary least square regression logarithm. During the second stage, quantile regression was used to evaluate the association between Google Trends keyword search and related topics using a set of regression functions to account for non-normal errors and outliers. The results show that households using smartphones and household debt have a positive impact on both sales performance and household consumption, while internet usage by entrepreneurs is negatively influenced at all levels of household consumption but shows a highly positive influence on both low and high levels of sales (the lowest and highest quantiles). The results show further that price is sensitive to both sales performance and household consumption due to its strongly negative impact on the lowest and highest levels of household consumption, but there is a positive association with the highest sales level. Companies or entrepreneurs can visualize promptly specific directions on digital marketing strategy handling to rapid economic changes in order to increase sales performance. This finding used an exact methodology for calculating the association of Google Search in order to answer the significant factors association that would be essential for the practical research.
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