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All Journal Economic: Journal Economic and Business PERSPEKTIF: Journal of Social and Library Science
Pranata, M. Harry
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Humanities Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Languange, Linguistic, Communication & Media Library & Information Science Social Sciences

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Journal : PERSPEKTIF: Journal of Social and Library Science

 1 
ADAPTATION STRATEGY OF TRADITIONAL MARKET TRADERS IN RESPONSE TO DIGITALIZATION COMPETITION Nasution, Hafizah Mahira; Lubis, Ilham Akbar; Pranata, M. Harry; Siregar, Nurhasanah; Lubis, Sri Nikmah Tullah
PERSPEKTIF: Journal of Social and Library Science Vol. 2 No. 3 (2024): December
Publisher : Academic Solution Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.70489/perspektif.v2i3.379

Abstract

This research discusses how traditional market traders in Pasar Hongkong Medan City adapt to the competition of digitalization. With the increasing penetration of the internet and the popularity of e-commerce, traditional markets face great challenges in maintaining their relevance. The research used a qualitative method with in-depth interviews to traders in three accessories shops as the research subjects.  The results showed that the merchants experienced diverse impacts of digitalization. Certain shops successfully utilized technologies such as WhatsApp for digital marketing and transactions, while others faced a decline in revenue. Adaptation efforts involved strategies such as price adjustments, use of social media for promotion, and digital payment systems. This study recommends digital literacy training, market infrastructure improvement, and collaboration with digital platforms to help traditional traders survive in the digital era. 
Co-Authors Afifah, Yasmin Lubis, Ilham Akbar Lubis, Sri Nikmah Tullah Nasution, Hafizah Mahira Nurhasanah Siregar . Ragilita, Rizkie