Recession Instigating Bargaining, Says Google CEO

Wilmslow, United Kingdom (PressExposure) July 09, 2009 -- Recession has attributed significantly to the current behavior of web surfers-confirms Eric Schmidt, CEO of Search giant Google. Schmidt has confirmed that consumer mentality has been highly affected by the economic slowdown and they are spending more time at web space on comparison and search of a better deal. Bargaining has become a common phenomenon now among online buyers. Sales of Luxury stuff at internet have decreased while sales of necessary consumer items are not affected. Although there is no significant increase in consumer spending is marked, there is a shift of spending pattern towards necessary consumer goods. However Schmidt is optimistic that there will be a change in this pattern when people will be assured regarding their job stability and credit availability will be improved.

The pattern of spending made by online buyers is a part of economic cycle. There are booms and dull phases. As this is a cycle, the dull phase will definitely see its doom. By second half of the year there will be global recovery and search engines will be benefited significantly said Schmidt. Behavior of web surfers has transformed significantly with in last decade. They are now more interested in people and business.

Companies are recovering from the recessionary pressures and once they are strong in cash position new hiring will start. Measures taken by governments across the world have started yielding results. All these will revive the spending pattern of online shoppers and there will be a significant and positive change within a year hoped Schmidt.

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Press Release Submitted On: July 09, 2009 at 1:18 am
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