Figure 1
The horizontal axis ranges from 2010 to 2023 in increments of 1 year. The vertical axis ranges from negative 4.2 to negative 3.0 in increments of 0.2 units. Two representations are shown: a continuous line for “Model-Implied” and circular markers for “Observed”. The first line represents “Model-Implied,” starts at (2010, negative 4.0), then increases gradually passing through (2011, negative 3.9), (2012, negative 3.85), (2013, negative 3.8), (2014, negative 3.75), (2015, negative 3.72), (2016, negative 3.7), (2017, negative 3.65), (2018, negative 3.6), (2019, negative 3.55), then rises sharply to (2020, negative 3.2), and remains nearly constant passing through (2021, negative 3.2), (2022, negative 3.2), to end at (2023, negative 3.2). The second series, marked by circles, represents “Observed”, starts at (2010, negative 4.0), then increases gradually passing through (2011, negative 3.9), (2012, negative 3.85), (2013, negative 3.8), (2014, negative 3.75), (2015, negative 3.73), (2016, negative 3.72), (2017, negative 3.68), (2018, negative 3.62), (2019, negative 3.55), then rises sharply to (2020, negative 3.2), and remains nearly stable passing through (2021, negative 3.2), (2022, negative 3.2), to end at (2023, negative 3.25). Note: All numerical data values are approximated.Observed and model-implied predicted values for logit of online shopping proportion. Source(s): Authors' own work