Online Price Change for High Demand Product in United Kingdom

This research analyzes the impact of price change on high demand products like handwash, sanitizer, baby food, and pasta in the UK during and after the COVID-19 pandemic. The study includes correlation and regression analysis to understand the interrelationship between price and demand. The results show that both variables are interlinked and influence each other. The average price and standard deviation of each product are also discussed.

INTRODUCTION
Research is a process involve assessing and interpreting all the data and
information that can provide a reasonable form of understanding over the given
topic. This project will discuss the various change in the price of the different
product before and after the lock down has imposed in the United Kingdom. This
presentation will discuss about the descriptive statistic over the respective product
price and further the correlation and regression analysis will be done to understand
the results.
Results/ Findings
The correlation analysis is high which clearly indicate that the
lock down practice could influence the level of price change
during and after the lock-down was imposed. This is a very
significant part of the product selling as the lock down could
completely affect and influence the level of prices offer in the
location (Navío-Marco, Ruiz-Gómez and Sevilla-Sevilla, 2018).
Aim and Objectives:
To assess the impact of the price change during and after
the covid panedemic.
The chosen product is handwash, sanitizer, baby food and
pasta.
To assess whether the high demand influence the price
change.
Results of the regression analysis further discuss the fact that both the
variable price and demand are inter related with each other. This is a certain
fact that demonstrate the fact that the price and demand of the product are
inter linked with each other. Further both these variable are related and
influence teach other in the respective target market. The views of Kurt
(2019), is certainly stated the fact that if the change in one element witness
this would further affect the change in the another element.
The result of the descriptive statistic demonstrate 97.2 mean
for baby food, 96.05 for pasta sauce, 99.3 for hand sanitizer
and 102.1 for hand wash. All these are the average number of
price that is witnessed during the respective period.
On the basis of the results are identified it has spoted that
demand in the matrket and the price are inter related with each
other. The entire research stated the fact that if the price of the
product increases this further demonstrate the fact that the
respective demand of the product has also increased in the
CONCLUSION
This is identified that recently the changes has witnessed in the demand and
price of the various product that are selling over internet such as pasta sauce,
hand wash, hand sanitizer and such like of product.
REFERENCES
Jun, C., 2020. Research on simulation of school uniform supply chain optimal model based on internet of things. EURASIP Journal on Wireless
Communications and Networking. 2020(1). pp.1-15.
Kurt, R., 2019. Industry 4.0 in terms of industrial relations and its impacts on labour life. Procedia computer science. 158. pp.590-601.
Online price change for high demand product in United Kingdom

Coorelation analysis
Ulas (2019), views mentioned that correlation analysis clearly indicate about the interrelationship between the variable in the market. If the
demand of the product contain a huge demand over internet rise this would also influence the price of the product in market. Further the
government also take a control over the rising price of different product in market. This is certainly get influenced in the time of the covid that
all different product that contained a huge demand online has an influence of the lock-down over the price change addressed in the country. .72
is a massive correlation that indicate the fact that the lock down. This correlation clearly indicate the fact that the lock down carry a direct
relationship with the prince change in the high demand product in the United Kingdom. High demand product in United Kingdom has
significantly change over the period of the time as te law of economies call as demand of law which further support the fact that if the demand
of the product rise this will further influence and rise the price of the respective product in target market. The study of the Min and et.al. (2019),
show that the price and demand has a direct connection in the economics. As the p[rice of the product is identify on the basis of the demand of
Irrespective to the fact that the demand of the product is high still government try to control the price so that this do not create any negative impact
over the buying power of the customer in market. High demand product always carry a strong relationship with the price and due to the increased
demand this will certainly affect over the price of the product in market. The result of the correlation analysis show the fact that demand and price
both the variable carry the strong relationship with each other. E-commerce is a huge and massive platform that is applicable in the business
environment. As the views illustrated by Matyas and Kamargianni (2019), over the fact that this can demand the fact that in United Kingdom
recently the demand of the certain product like baby food, pasta, hand sanitizer and hand wash has increased which further reflect in the changing
price of the product. Further the government has tried to establishes the control over the rising price in order to restrict the inflation in economy
which potentially affect over the prices of the respective product in respective target market. In recent time after the pandemic people started
buying all its product and meet all their requirement over internet online. This could further raise the demand in the online for many product. All
this could further significantly affect the demand of the product and further influence the price of the respective product segment in the target
market.
For example if the demand of the hand wash get a rise this will certain affect over the price of the respective product as this would increase the
price of the same product in market. All this is a reasonable fact or aspect that demand critically the result of the market. Regression analysis result
are clearly stating the connection between both these variable for the economy. Regression analysis clearly demonstrating the fact the inter
dependency between the variable is massive. This is stated as a fact that both price and demand are inter linked with each other and it is clearly
stating as a fact that any change occur in one particular variable will certainly influence the other factor or element. This is witnessed in the
respective target market or economic circumstance as well as any change in one variable will certainly affect the other. Lu, Hong and Zhang
(2018), stated that regression define a clear relationship betwee the fcatror or variable like price and demand of the product in market. Henceforth
it can state as a fact that any change in one variable will effect the other variable. For example if the demand of one product like hand wash will
increase this will further affect the price of the same product in respective target market. There is not any difference will witness in the other
factor.
The average price is considered as an average basis of the price applicable over the respective time period. Art any given point of time customer
has given average to this amount of price in against to buy all these product in the market. Further standard deviation of the product is .9 for baby
food, 3.25 for pasta sauce, 1.8 for hand sanitizer and .3 for the hand wash. All these are different as they al are belonging to all different product
in the market. Further median is 97.2 for the baby food, 96.05 for pasta sauce, 99.3 for hand sanitizer and 102.1 for hand wash. All these are
different as they reflect the maximum price over the respective product lioje that is asked in the respective time period.
This is certainly demonstrate the fact that if the demand of the respective product in market will increase than further the price of the same product
will also influence in the same capacity. The entire interpretation is shown and stating the fact that in context to the online situation if any change
in the demand is made this would also affect the price of the same in the market. As per the views givenb by Jun (2020), it has also favoured in the
study conducted which clearly indicate this fact and support the argument that change in the demand in market about the product will also affect
over the prices of the same product in respective target market. Scholar is favouring this aspect that recently demand of the online product has risen
which could also increase the price of the same product in the United Kingdom. This is understood as a fact that the price and demand of the
respective product are inter linked with each other. The result of the descriptive statistic clerical showing us the fact that any change in one variable
will certainly affect to the other variable in the study
Notes

CONCLUSION
This is identified that booth the variable demand and price are inter linked with each other which also influence
each other. If price increases than this would affect the demand and if the demand will rise this will also affect the prices.
REFERENCES
Lu, R., Hong, S. H. and Zhang, X., 2018. A dynamic pricing demand response algorithm for smart grid: reinforcement
learning approach. Applied Energy, 220, pp.220-230.
Matyas, M. and Kamargianni, M., 2019. Survey design for exploring demand for Mobility as a Service
plans. Transportation. 46(5). pp.1525-1558.
Min, Q. and et.al., 2019. Machine learning based digital twin framework for production optimization in petrochemical
industry. International Journal of Information Management. 49. pp.502-519.
Navío-Marco, J., Ruiz-Gómez, L. M. and Sevilla-Sevilla, C., 2018. Progress in information technology and tourism
management: 30 years on and 20 years after the internet-Revisiting Buhalis & Law's landmark study about
eTourism. Tourism management. 69. pp.460-470.