THE IMPACT OF MONETARY REWARDS AND EMPLOYEES’ BENEFITS ON FRONTLINE STAFF MOTIVATION IN THE RETAIL INDUSTRY

ABSTRACT

THE INCREASING CONTRIBUTION OF GENERATION Z (GEN Z) TO MACAO’S ECONOMY MAY BE THE DRIVING FORCE BEHIND THE RECENT CHANGES IN MACAO’S CONSUMPTION PATTERNS. THIS DISSERTATION ANALYZES HOW CONSUMPTION PATTERNS OF MACAO’S GEN Z DIFFER FROM OTHER GENERATIONS. TO INVESTIGATE THE TYPES OF GOODS AND SERVICES CONSUMED, THE SHOPPING MODES, AND THE FACTORS THAT INFLUENCE THE CONSUMPTION DECISIONS OF DIFFERENT GENERATIONS OF MACAO, THIS STUDY CONDUCTS A SURVEY TO COLLECT PRIMARY QUANTITATIVE DATA FROM 296 MACAO RESIDENTS. THIS STUDY FOUND THAT THE MOST MACAO RESIDENTS CONSUMED 21%-60% OF THEIR INCOME, SHOWING A BALANCE BETWEEN CONSUMPTION AND SAVING. THEY SPENT MOST ON FOOD AND NON-ALCOHOLIC BEVERAGES, HEALTHCARE, AND EDUCATION. IN TERMS OF RECEIVING INFORMATION ABOUT NEW PRODUCTS, MANY MACAO CONSUMERS LEARNED FROM FAMILY AND FRIENDS AND SOCIAL MEDIA, SUCH AS THE RED BOOK AND TIKTOK. ELECTRONIC PAYMENTS HAVE BECOME INCREASINGLY POPULAR, SUCH AS THE LOCAL PAYMENT SYSTEM, MPAY. THE T TESTS FOR STATISTICALLY SIGNIFICANT DIFFERENCES SHOW THAT GEN Z WAS MORE LIKELY TO MAKE ONLINE PURCHASES WHEN BUYING BEAUTY PRODUCTS AND ELECTRONIC DEVICES THAN OTHER GENERATIONS. COMPARED TO OTHER GENERATIONS, GEN Z WAS MORE CONCERNED WITH THE LEVEL OF FUN OF THE BRAND, IMPACTS ON THE ENVIRONMENT, SOCIETY, AND LOCAL COMMUNITY OF THE PRODUCT, PERSONAL PREFERENCE AND RESEARCH, AND THE RECOMMENDATIONS OF ONLINE REVIEWERS, INFLUENCERS, AND SALESPERSON. BASED ON THE FINDINGS OF THIS STUDY, BUSINESSES CAN DEVELOP UP-TO-DATE MARKETING STRATEGIES TO INTRODUCE THEIR PRODUCTS TO DIFFERENT GENERATIONS IN MACAO