13 Pages Posted: 26 Oct 2011 Last revised: 2 Nov 2011
Date Written: October 24, 2011
The study attempts to identify perceptions of consumers towards existing retail formats in India. To have in-depth study of consumer perceptions, the basis on which consumers have been segmented keeping in view the products to be sold need to be understood. Customers of today carry out extensive research in gathering maximum information about product to be purchased, occasion for which the purchase is to be made as well as from where the purchase is to be made. Their evaluative criteria include price, brand reputation, distribution, promotion, personal selling. The factors causing planned vs unplanned purchasing behaviour and consumer decision process model need to be understood thoroughly. The customers remain in dilemma about outlet choice vs brand choice.
Retail is an emerging sector in India. Marketers are leaving no stone unturned to influence the customers by offering them in various ways, at various locations, in various forms resulting in emergence of various retail formats throughout the country. Customers are highly influenced by image of the retail outlet, its attributes, product range, variety, services, employee’s behaviour, décor, music and marketing strategies. For this, we need to understand the process of outlet selection, consumer choice and shopping behaviour, the shopping process, shopper types and shopping strategies, choice decisions during shopping process, attempts made by marketers to close the gap between expectation and performance and so on.
The retailers should put in efforts focusing on attracting the customers towards the store outlets on continual basis by focusing on their distinct features, thus, adding to the retail formats, followed by persuasion of paying a visit to the store causing a positive impact on the prospects by their effective formats, convincing them to make first purchase, in turn, followed by repeat patronage.
Customers of today are not focusing only on the purchase, however, less it is; they are equally concerned with external as well as internal environment of the retail format. Their pre-purchase experience is highly influenced by family members, friends and channels of communication in comparison to competitive offerings. Moreover, needs, perceptions and experiences of customers vary to a great extent which a marker needs to identify and thus make offerings accordingly.
Keywords: Retail, Perception, Format, Consumer, India
Suggested Citation: Suggested Citation
Gupta, Monika and Mittal, Dr. Amit, Consumer Perceptions Towards Different Retail Formats in India (October 24, 2011). Available at SSRN: https://ssrn.com/abstract=1948865 or http://dx.doi.org/10.2139/ssrn.1948865
By Satyajit Roy
By Dinesh Gupta
By Rekha Attri
By Anuja Pandey