facter affecting retail shopee in the market

Factor affecting retail Shoppee

DEFINITION FOR RETAILING

Commodities offered for sale good business depends on having good merchandise "that

store offers a variety of products.

TYPES

• 5 types– Range of merchandise– Convenience of shopping at a particular outlet– Time to travel– Socio-economic factor– The stage of the family life cycle

Range of merchandise

Convert retail shopper to buyer depends on the quality and offers by the store

Eg:Products in kannan departmental store Vs Krishna departmental store.

Convenience of shopping at a particular outlet

the element of convenience is Fast gaining prominence in the world of organised retail.

EG:while buying medicines, most patients

would prefers to buy from the chemists near the doctor’s clinic or near the hospital

Time to travel

The time required to reach a particular retail location is again fast becoming critical. This is especially true in case of metros like Mumbai, where travel time is high. Eg:

In the Chennai, there travel time is high , so they prefer to buy the store near to their place.

Socio-economic factor

Consumer buying behavior various from market to market and largely influence by the culture of the region

Eg:Asian culture is very different from western

culture. The need hierarchy is different for each market .the need that the retailer can fulfil needs to be clearly understood by him.

Indicators 1991-92 1996-97 2006-07

Life expectancy male female

57.758.7

60.1061.10

66.1067.10

Death rate 10.0 8.7 7.4

Birth Rate 28.9 25.72 21.7

Electricity rural urban

27 75

5080

8095

Stages of the family life cycle

The life cycle is based on their needs and wants

Eg:The needs of the young bachelor will be

different from the needs of a family with children in their teens ,

Consumer decision making process

5 stages

– Need recognized– Search for information– Evaluation alternatives– The purchase decision– Post-purchase behavior

Need recognized

Consumer become aware of the needy products by advertisement and newspaper.

• classifications are used• Internal stimuli (physiological need felt by the

individual as hunger or thirst) which opposes the external stimuli such as exposure to an advertisement, the sight of a pretty dress in a shop window

EXAMPLE:• It’s Sunday night. You’re hungry (internal

physiological stimuli) and there is nothing in the fridge. You will order food (statement of need).

Search for information

Gather the information for solve the problemsuch as the Internet Media and TV Stores Family and friends

• Internal information: this information is already present in the consumer’s memory.

• External information: This is information on a product or brand received from and obtained by friends or family, by reviews from other consumers or from the press.

Evaluating alternatives

• It can vary from person to person • Decision based on the situation

Purchase decision

His decision will depend on the information and the selection made in the previous step based on the

perceived value, product’s features and capabilities

Post-purchase behaviour

Once the product is purchased and used, the consumer will evaluate the adequacy with his original.