understanding customer perceived mall values
TRANSCRIPT
DOI: 10.4018/IJCRMM.2019070102
International Journal of Customer Relationship Marketing and ManagementVolume 10 • Issue 3 • July-September 2019
Copyright©2019,IGIGlobal.CopyingordistributinginprintorelectronicformswithoutwrittenpermissionofIGIGlobalisprohibited.
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Understanding Customer Perceived Mall Values:A Confirmatory Factor Analysis ApproachAnil Kumar Kashyap, Department of Business Management, Dr. Harisingh Gour Vishwavidyalaya (A Central University), Sagar, India
Ajay Kumar, Department of Business Management, Dr. Harisingh Gour Vishwavidyalaya (A Central University), Sagar, India
ABSTRACT
Value-based business strategies are acquiring attention throughout the world. Retailing in Indiahas distinct challenges. The diversity in its population largely affects its retail characteristics.Understandingcustomerperceivedvaluesanddevelopingappropriatestrategiesistheonlywaytosucceed.TheproposedstudyisdesignedtoexploreandvalidatethecustomerperceivedmallvaluesinanIndiancontext.Toaccomplishtheobjectives,samplesweretakenfrommallslocatedincentralIndia.Atotalof257sampleswereutilisedtoconcludetheresults.Asthefactoranalysisremainsadynamicfieldofresearchstudiesinmarketing,EFAandCFAisusedtoexaminethedata.Thestudyresultsshowsevencustomer-perceivedmallvalues:conveniencevalue,epistemicvalue,explorationvalue,monetarysavingvalue,self-gratificationvalue,socialinteractionvalue,andenjoyment-seekingvalue.Attheendofthestudyusefulmanagerialimplicationsareprovidedtomallmanagersandoperators.
KeywoRdSConfirmatory Factor Analysis, Customer Perceived Values, Exploratory, India, Shopping Mall
INTRodUCTIoN
Customerderivedmultiplevalueswhileshopping.Theactsofshoppingbecomingmorevaluedrivenaftertheevolutionofonestopshoppingdestinationi.e.themall.Peopleprefervalue-orientedshopping(VelitchkaandBarton,2006).Thevalueofshoppingisnothingbuttheoutcomeoftheshoppingactivitywhichcomeswithbuyingaproductorservicesorafeelingofrelaxationwhileaccompanyingothers.Peopleshopforthebenefitofvaluefulfilment(ShimandEastlick,1998).Theimportanceofshoppingvaluecanbeseeninseveralscholarlyarticles(Griffinetal.,2000;BabinandBabin,2001;Stoeletal.,2004;Babinetal.,1994;MichonandChebat,2004;Karimetal.,2013;Carpenter,2008;SeoandLee,2008;Jacksonetal.,2011;DavisandHodges,2012).Thesestudiesarelimitedtoacertainextentofshoppingvalueslikehedonicandutilitarian,whileconsumerseeksmorethanthesevalues.Peopleoftenshopjusttogetoffersanddiscounts,torelax,toenjoyandsocializewithothers,orjustasareasontogetoutoftheroutinelife.Somecustomersenteredinthemallprimarilytogetthevalueofsensualandemotionalsatisfactionduringashoppingtrip(BatraandAhtola,1991;Roy,1994;WakefieldandBaker,1998)representshedonicvaluesasshoppingvalue.However,thesereasonscouldnotbetracedouteasilybuthavealargeinfluenceonvalueseekingprocess.Therefore,
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agapexistsbetweenthevaluewhichcustomerexpectfromashoppingdestinationandtheactualvaluestheyreceivedagainsttheamounttheyspent.
Inthecontextofthemall,it isverycommoninIndiathatpeopleaccompaniedtheirfriendsandrelatives.Thesemallvisitorsvisitmallwithouthavingtheobjectiveofshoppingintheirmind.Itisequallyimportanttounderstandwhatkindofvaluesthesepeoplederivedwhileescortingtheirfriendsandfamilymembersduringtheirshopping.Afterallthechoiceofselectingamallforshoppingdependuponthecommonconsentofthegroup.Later,theexperiencethesefellowvisitorsreceivedalsomultipliedthechancesoftheirvisitinthemallagain.Successofmalllargelydependsuponthefootfallitrecordedeachday.Therefore,mallmanagersneedtodesigntheshoppingvalues(Babinetal.,1994,2005;BabinandDarden,1995)whichcatertheneedofallitsvisitors.
Customerperceivedvalueisanaggregationofwhatevercustomerperceiveduringtheirshoppingtrip.However,somescholarlyarticledefinedthecustomerperceivedvalue(e.g.ChangandDibb,2012)asthesynthesisofmarketing,economics,axiology,andpsychology.Itmeansshoppingvalues(Utilitarianandhedonicvalues)arethesubdomainofcustomerperceivedvalue.Further,customerperceivedvaluesconsistmoredimension than theshoppingvalues.Customer-perceivedvalue isnothingbutaconcernforconsumerswishingtomakesoundpurchasechoices(ChangandDibb,2012).Basically,thecustomer-perceivedvalueisatrade-offbetweenwhatthecustomergets(i.e.benefits,quality)inexchangeofwhathe/shegives(i.e.priceorsacrifice)(Zeithaml,1988).Perceivedvalueplaysanimportantroleinshapingcustomers’choiceandacceptancetorepurchaseandconsequentlyinachievingsustainablecompetitiveadvantage(EidandEl-Gohary,2015).
Studiesconductedsofarinthecontextofthemallhavediscussedanddiscoveredtheshoppingvalues;however, theproposedstudyexplores thecustomerperceivedvalue in thecontextof themall.Thefirstsectioni.e.introductionisaboutthecustomerperceivedvalueanditsimportanceindrivingcustomertoretailoutlets.Thefollowingsectionpresentsadetailedliteraturereviewonmallperceivedvaluesfromcustomerperspective.Thenextsectionclarifiedtheresearchobjectivefollowedbyrationaleofthestudy.Thefourthsectiondescribesresearchmethodologywhichincludeddatasource,samplingprocedureandquestionnaireemploymentprocess.Later,dataanalysis,resultsanddiscussionarepresentedwhichalsoexplaintheuseofEFAandCFAtofurthervalidatecustomermallperceivedvalue inIndiancontext linkingwithotherstudies.At lastconclusion,managerialimplication&futureresearchdirectionsaregiven.
LITeRATURe ReVIew
Customerperceivedvaluehasgainedmuchattentionamongtheresearcherofmarketingandretailing.TherealismofidentificationofcustomerperceivedvalueinmallshoppingstartedfromthestudyofBabinetal.,(1994)whentheyexploredthepersonalvaluedimensionintotwobroadcategoriesutilitarianandhedonicshoppingvalue.Later,ArnoldandReynold(2003)emphasizedonlyonhedonicvalueandexploreditintosixcategories;adventure,gratification,social,ideashopping,valueandroleshopping.Thehedonicvaluewasfurtherexploredinthecontextofthemall.Theutilitarianvaluemainlyrelatedtotheaccomplishmentoftheintendedgoaloftheshoppingtripinanefficientandconvenientmanner(Babinetal.,1994;Chandonetal.,2000),monetarysavings,andquality(Chandonetal.,2000)andreflectstask-relatedworthofutilitywhilehedonicvalueassociatedwiththefeelingsandemotions(Laverieetal.,1993),senseofjoyandescape(Jacksonetal.,2011;Karimetal.,2013),expression,explorationandentertainment(Chandonetal.,2000),funandplayfulness(Babinetal.,2013;Borgesetal.,2013).Jacksonetal.(2011)andKarimetal.(2013)identifiedthedifferencesinshoppingvaluesacrossthegenerationalcohortsandgenders.Inaddition,astudyincentralIndiaconductedbyKesariandAtulkar,(2016)confirmedotherdimensionsofutilitarianandhedonicvaluesandmeasureitseffectoncustomersatisfaction.Thedimensionsweremonetarysaving,selection,convenience,customizedproducts,entertainment,exploration,placeattachmentandsocialstatus.AnotherstudyinIndiancontextconductedbyKhare(2011)resultedinfluencesofhedonicandutilitarianvaluesofsmallcityconsumersandtheirattitudetowardsmalls.
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Thedimensionsofcustomer-perceivedvaluelikeself-gratificationvalue,socialinteractionvalue,epistemicvalue,spatialconveniencevalue,timeconveniencevaluewasalsoidentifiedby(CaiandShannon,2012;DavisandDyer,2012;El-AdlyandEid,2015)inthemallstudies.CaiandShannon(2012)measuredtheinfluenceoffourtypeofmallshoppingvalues;socialaffiliation,self-actualising,self-transcendenceandself-enhancementtowardsthemallattitude,intentionthenbehaviour.SweeneyandSoutar(2001)conceptualizethefindingsofSheth(1991)andidentifiedvalues;emotionalvalue,socialvalue,quality/performance,price/valueformoneytomeasurecustomers’perceptionsofvalueonaconsumerdurableproductatabrandlevel.However,Shethetal.(1991)identifiedfiveindependentconsumptionvalues;functionalvalue,socialvalue,emotionalvalue,epistemicvalueandconditionalvalue.Thesevaluessteerconsumerbehaviourandresultinconsumerchoice.DavisandDayer(2012)proposedaconsumerperceivedvaluesinthecontextofconsumers’shoppingexperiencesintwodominantretailoutlets;massmerchandisersanddepartmentstores,consumersexperienceninetypesofvalues;acquisition,transaction,efficiency,self-gratification,socialinteraction,choice,exploration,esthetic,andsocialstatusvalue.OlsenandSkallerud(2011)establishedtheirstudybyexamininggroceryshoppingbeliefwhilemeasuringstoreattributeonshoppingvalue.Theyconcluded thatpersonalinteractionandphysicalaspectsofstoreattributesmayhaverelationordirectiondifferentlywithdimensionsofshoppingvalue.Rintamakietal. (2006)proposedthedecompositionof totalcustomer value into utilitarian (monetary saving and convenience), hedonic (entertainment andexploration)andsocialdimensions(statusandself-esteem)perceivedbydepartmentstoreshoppers.Alsosuggestedthatsocialvaluevariesbyday‐of‐weekwhenthereismorecrowedinstore(e.g.onSaturdayGriffinetal.,(2000)comparetheshoppingvalueintheU.S.andRussian.Recently,El-AdlyandEid,(2016)measuretheeffectofcustomerperceivedmallvaluesoncustomersatisfactionandthenonloyalty.
Fromthecriticalreview,itisconcludedthatcustomer-perceivedvalueisfragmented,scholarlyfindingsareinconsistentandthereisnogeneralizedagreementaboutthedimensionscomprisingperceivedvaluemeasures.Thereasonbehindthesemaybesubjectiveorcontextualnatureofthestudies.With regard to the contextualnature, the research studieshave reported thediversity inperceivedmallvaluefromcustomers’perspectiveindifferentcontexts.However,abundantofstudiesisconductedinWesterncontext(Kim,2002;JinandKim,2003;Lietal.,2004;Jacksonetal.,2011;Davis andDyer, 2012;Sarabia-Sanchez et al., 2012) and its proliferation is continueother thanWesterncontextsuchasChina(CaiandShannon,2012),Malaysian(Karimetal.,2013)andIndia(Khare,2011:KesariandAtulkar,2016)etc.ResearchstudiesarerequiredmoreinIndiacontexttounderstandthecustomerperceivedvaluesatmallbecauseofmallshoppinginterestandmallretailsizeinIndiaiscontinuouslyincreasing.
Research objectiveTheprimaryobjectiveofthisstudyistoextendtheresearchworkofEl-AdlyandEid(2015)alongwithotherrelevantstudiesandstrengthenedtheconceptofmallshoppingvalues.ThestudiesonperceivedmallvaluesareverycommoninEurope,USAandeveninChina,butIndiacontextitisoneoftheleastdiscussedtopicsofmallretailing.Therefore,theresearchershavetriedtomeasureandre-validatethescalewhichmeasurecustomerperceivedmallvaluesintheIndiancontext.
Rationale for the StudyIndiancustomershavebecomeverysensitive.Itleadstheirwishtoseekmorevaluesofwhateveramountorprice theypaidwhile shopping.Thisvalue-orientedapproach influencecustomersorderivedlargershoppingvalues.Itishappeningduetounprecedentedincreaseinconsumerspending,changesinsocio-economicstatusandincreasingproliferationofmodernretailformatsinIndia.Theconcernedaboutshoppingvalues is revealedgloballybut tounderstandperceiveshoppingvalueataggregatelevelinIndiancontextalothastobedone.ThisstudywillhelpinunderstandingtheperceivedmallvaluefromcustomerperspectiveinIndiancontext,andtodesignanddevelopuniformandcustommallretailstrategies.
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Research MethodologySampling Design and Respondent Profile InformationTherespondentsforthisstudywerethemallshoppersfromIndiansocietywhoareexposedtotheconceptoforganizedretail,mallandmallculture.Tomakesurethequalityofdataitwasaskedtotherespondentsthattheymustvisitmallatleastonceinthepastthreemonths.Conveniencesurveytechniquewasusedtocollecttheprimarydata(Saundersetal.,2007;El-AdlyandEid,2015).MallavailableinMadhyaPradeshstatewereselectedforsamplesurvey.Total300questionnairesweredistributedamongtherespondents.Ofthem282questionnaireswerereceivedback.26questionnaireswerefoundincompleteorinappropriatetouseinthestudy,thereforeonly256wereusedfordataanalysis.
Questionnaire Development ProcessTomeasuretheperceivedmallvalues,aquestionnairewasdevelopedusingtherelevantliteratureonperceivedmallvaluesthatarestructuredonthestudieswhichwereconductedindiversecontextualnature.However,theproposedstudyislimitedtotheperceptionofcustomerstowardsmallintheIndiancontext.Initially,thecontentofthequestionnairewasdiscussedandfinalizedafterthepilottesting.Afterevaluatingthequestionsimportanceitswordings,itwasobservedthattherespondentswereconfusedoverthelanguageoffewquestions.Therefore,thequestionnairewasslightlymodifiedintermsofcontentandlanguageoftheitems.Thefinaldraftofthequestionnairewasdividedintotwoparts.Thefirstpartcontainingthedemographicinformationabouttherespondentswhilethesecondparthavingitemsdesignedtomeasurethecustomerperceivedmallvalues.ItemsusedtomeasurethecustomerperceivedmallvalueswereadoptedfromthestudiesofBabinetal.(1994),Lysonskietal.(1996),ReynoldsandBeatty(1999),ArnoldandReynolds(2003),Khare(2011),El-AdlyandEid(2015).Afive-pointLikert-scalerangefrom1to5points(where1isstronglydisagreeand5stronglyagree)wasusedtomeasuretheresponse.
data AnalysisRespondent’s Demographic ProfileBackground informationof thesurveyrespondentswascollectedon thebasisofgender,maritalstatus,educationandfamilyincome.Therewere61.47percentofmaleand38.52percentoffemalerespondentsinfinalsample.Fromagegroups,21-40yearsoldrespondedhavealargestgroupandaccounts47.08percentwhileupto20yearswere45.91percent,41andaboveagerespondentare7percent.Dataonmaritalstatus,singlerespondentaccounts76.3percentandmarried23.7percent.Amongtheeducation,graduateandpostgraduateare48.63and34.24percentrespectivelyfollowedbyschooleducation10.89percentandothers,7.0percent.Intermofincomelevel,37.74percentofrespondentsarerangebetweenRs.25,001-50,000followedbyRs.50,001-75,000in23.73percent,upto25,000in18.67percent,Rs.1,00,001andabovearein10.12percentandRs.75,001-1,00,000in9.72percent.
Exploratory Factor AnalysisBeforeapplyingthefactoranalysis,theanti-imagecorrelationmatrix,andsampleadequacytestisusedwhetherthedataisadequatetoruntheExploratoryfactoranalysis(EFA)withprincipalcomponentanalysisandvarimaxrotationwasrun.Eigenvaluesusedtoconfirmthenumberoffactorstobeextractedindataanalysis(Hairetal.,2015).Theanalysisproducedsevenfactorswhichaccountforatotalvarianceof64.473%,andexhibitedaKMOmeasureofsamplingadequacyof0.760at.000levelofsignificant.Thevalueofsamplingadequacyishigherthanbench-markvalueof0.5.InEFAoutputtable1,anitem“Iamcautiousintryingnewproducts”thatwasreflectingcrossloadingontwofactorsi.e.explorationvalueandepistemicvalue.Thisitemadjustedonepistemicvalueduetocontributioninfactorreliabilityandmeaningofitemsisalsomatchmoreonepistemicvaluefactor.
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Alltheitemshaveahigherloading(>.50).Inordertoquantifythescalereliabilitiesofthefactorsidentified,Cronbach’salphacoefficientsarecalculated.Nunnally(1979)recommendedthereliabilityofscaleatminimumvalue0.70.Theextractedsevenfactorsare“conveniencevalue”,“epistemicvalue”,“explorationvalue”,monetarysavingvalue”“self-gratificationvalue”,“socialinteractionvalue”,and“enjoyseekingvalue”.ResultsoffactoranalysistogetherwiththepercentageoftotalvarianceextractedforeachofthefactorandcalculatedCronbach’salphascoresarereportedintable1.
Confirmatory Factor AnalysisTheconfirmatory factor analysismodel isderived from theexploratory factor analysiswhich isreportedintable2.TheCFAmodelrepresentsthemeasurementmodelforshoppingvaluewhichconsumerderivedinshoppingmall.Thismodeliscomprisedofsevenconstructs.Evaluationofthemodelisdonetocheckadequacyofparameterestimatesaswellasthemodelasawhole.
The proposed model is found adequate as indicated by goodness-of-fit statistics. Minimumdiscrepancy/degreeoffreedom(CMIN/DF)ratiois1.325.OthervalueofGoodness-of-fitindicesareGFI=0.906,AGF=0.879,IFI=.962,CFI=.961,RFI=.831,IFI=0.962,TLI=0.954,andRMR0.055.Rootmeansquareerrorofapproximation(RMSEA)valueis0.036.Alltheseindicatorsarethesignofgoodfitindicesformeasurementmodelofperceivedmallvalues.Amore,allindicatorshavesignificant loadingsontotherespectivelatentconstructs(atp<0.001significant level)withCFAloadingsvaryingbetween0.673and0.969reportedintable3.
ReSULTS ANd dISCUSSIoN
ThepurposeofthepresentstudyistounderstandtheperceivedmallvaluefromIndiancustomers’perspective.Inthisstudysevenmallsperceivedvalueshavebeenidentifiedandvalidated.Thesevaluesareself-gratificationvalue,conveniencevalue,social interactionvalue,explorationvalue,epistemicvalue,monetarysavingvalueandenjoyseekingvalue.TheidentifiedfactorsorvaluesinthisstudyaresomewhatsimilarwithwhatexploredpreviouslyinthestudyofEl-AdlyandEid(2015),ReynoldandArnold(2003).However,theirorderofpreferenceisentirelydifferentifmeasuredonyoungIndiancustomers.
The first factor which has highest extracted variances in this study is “convenience value”.However,inthestudyofEl-AdlyandEid(2015)itwasnamedas“spatialconvenienceandtimeconvenience”whichwererankedatsixthandeightpositions.Thepositionandorderofexploredfactorsreflectstheirimportance.Conveniencevalueisthecombinationoftimeandspatialconvenience(El-AdlyandEid,2015).Convenience is anything that reduces customer timeandeffort. In thecurrentstudythisfactorincludedcomplementaryservices,conveniencelocation,onestopshoppingandconvenient to shop lateatnight.Spatial (i.e. location)convenience isonewhichaffects thecharacteristicsofretailformatchoice(Gonzalez-Benitoetal.,2007).Moreover,conveniencevaluereferstoeffortsavingcapability.Thisincludestheproximitytothelocation,availabilitywhenconsumerdesireproductandflexibilityofdeliveryofproductunderoneroofmalls(YaleandVenkatesh,1986).Further,researchstudiessupportedthatmallisaonestopshoppingplace(Kim,2002;Nguyenetal.,2007;Zafaretal.,2007),aconvenientlocation(Chebatetal.,2009;Patney(2010)Thapliyal,2012),havingthecomplementaryservices(i.e.entertainment&foodfacilities)(Cristiansenetal.,1999;Patney,2010;Thapliyal2012;Radhika,2013;KesariandAtulkar,2016).Thus,conveniencevalueisanimportantfactorindesigningthemallshoppingdestination.Theshoppingmallisaplacethat fortunateenoughtooffercustomer’sgreaterspatialconvenience thanshoppingstripswould(ReimersandClulow,2004).
Epistemicvalueisthesecondfactorwhichcomesfromtheacquisitionofutilityfromaproductorservicesthatarousesduetointerestofcuriosity,novelty,andadesirefornewknowledgeaboutnewstoreandnewproduct(Shethetal.,1991;Blochetal.,1994),andtokeepupwithfashionortrends(ArnoldandReynolds,2003).Theepistemicvaluederivesfromtheentirelynewexperienceorit
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Table 1. Factor analysis results
Mall values Factors Loading Reliability (α)
% Variance Extracted
Convenience value .825 10.912
Ivisitthemallbecauseofitsconvenientlocationtomyhouseorstudyplace.
.845
Mallisaone-stopshoppingplace. .805
Ivisitthemallforitscomplementaryserviceslikecinema,foodzoneandpromotionetc.
.801
Itisconvenientformetoshopatthatmallbecauseitworkstilllate .743
Exploration Value .816 10.568
Ivisitthemallforitsproductvarietyandassortment. .849
Ienjoyshoppingaroundtofindaperfectgiftforsomeone .831
Ienjoyexploringalternativestoresinmall. .765
Iconsideravisittothemallasalearningexperience. .710
Self-Gratification Value .787 10.082
Tomeshoppingisawaytorelievestress. .772
WhenIamindownmood,Igoshoppingtomakemefeelbetter. .840
WhileshoppingIcannormallyforgetmyproblem. .744
Shoppinginmallmakesmefeelhappy. .680
Epistemic Value .769 9.671
Thewell-knownnationalbrandsarebestforme. .821
Igoshoppinginmalltoseewhatnewproductsareavailable. .798
Iamcuriousintryingnewproducts .715
Igoshoppingtokeepupwiththenewfashion. .687
Monetary saving value .798 8.780
Malloffersmequalityproductindiscountedrates. .890
WhenIbuyproduct,IliketobesurethatIamgettingmymoney’sworth. .816
Ivisitthemalltogetcompetitivepricingofproducts. .814
Social Interaction Value .748 8.279
Igoshoppingwithmyfriendstosocialize. .749
Igoshoppingwithmyfamilytosocialize. .751
IgotoshoppingwhenIwanttotreatmyselftosomethingspecial. .800
Enjoy seeking Value .762 8.223
Ienjoyshoppingjustforthefunofit .799
Ifindshoppinginmallexcites. .786
Goingshoppingtomallisoneoftheenjoyableactivitiesforme .786
Extraction Method: Principal Component Analysis.Rotation Method: Varimax with Kaiser Normalization
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mayreplacebyalternativeifthecustomersareboredorgratifiedwithhisorhercurrentbrand(Sethetal.,1991).IntheirstudyEl-AdlyandEid(2015)foundthisvalueonfourthposition.AccordingtoReynoldetal.(2002)shoppersspentthemaximumamountoftimeandmoneyontheavailabilityofcurrentfashionproductinthemallandvaluedthebrandedstoreavailablewithinthemallpremises.
Thenextidentifiedfactoris“explorationvalue”,whichissupportedbythepreviousmallstudiesbyKasariandAtulkar(2016)thatidentifiedsub-factorofHedonicvaluewhichrepresentthevalueformallshoppers,exploreandlearnthenewarrivals.Mallswithavarietyofstoresenabledthecustomertoacknowledgenewarrivalsofaglobalbrand,generatejoyofexplorationduringshoppingprocess(WestbrookandBlack,1985;Khare,2011).Fortheyoungcustomersmall isaplacewheretheyexperiencehigherpleasureandafeelingofexcitementduringtheshopping.Thus,retailersshouldfacilitatecustomerbyofferingexploringfacilities(Blochetal.,1994).
ThefourthfactoristhemonetarysavingvaluewhichissupportedbyJinandKim(2003),KesariandAtulkar(2016),Chandonetal.,(2000).Thescholars,KesariandAtulkar(2016)andChandonet
Table 2. Parametric estimates - regression weights
Estimate S.E. C.R. P
Convenientlocation <--- CONV 1.000
Onestopshopping <--- CONV .922 .078 11.891 ***
Latehour <--- CONV .830 .079 10.561 ***
Complementaryservices <--- CONV .894 .080 11.215 ***
Alternativestores <--- EXPLV 1.000
Learningexperience <--- EXPLV .801 .096 8.386 ***
Findgift <--- EXPLV 1.120 .098 11.442 ***
Productvariety <--- EXPLV 1.011 .088 11.549 ***
Feelhappy <--- SLFGV 1.000
Forgotproblem <--- SLFGV 1.025 .123 8.323 ***
Relievestress <--- SLFGV 1.225 .144 8.511 ***
Feelbetter <--- SLFGV 1.348 .154 8.747 ***
Curiousnewproduct <--- EPSTV 1.000
Wellkwonbrand <--- EPSTV 1.319 .153 8.633 ***
Newproductavailable <--- EPSTV 1.057 .128 8.260 ***
Keepfashion <--- EPSTV .930 .125 7.455 ***
Competitiveprice <--- MONSV 1.000
Discount <--- MONSV 1.398 .144 9.727 ***
Moneyworth <--- MONSV 1.057 .109 9.664 ***
Withfriend <--- SSLINV 1.000
Withfamily <--- SSLINV 1.066 .128 8.358 ***
Treatmyself <--- SSLINV 1.307 .138 9.467 ***
Enjoymore <--- ENJSV 1.000
Justforfun <--- ENJSV 1.223 .134 9.109 ***
Excite <--- ENJSV .896 .103 8.668 ***
Note: *** indicates that the value is less than 0.001 level of significant.
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al.,(2000)denotedthisfactorasamonetarysaving.Considerationofmonetarysavingsmakeshoppingmoreeffectiveandefficient(KesariandAtulkar,2016).InthestudyofEl-AdlyandEid(2015)thisfactoremergedas“transactionvalue”,offeringtransactionvalueinmallleadsthecustomersatisfactionandbehaviourintentionforgeneralconsumergoodsandevenforluxuryproducts.Inthisstudy,the
Table 3. Standardized loading for measurement model
Constructs Standardise Loading
Convenience value
Ivisitthemallbecauseofitsconvenientlocationtomyhouseorstudyplace. .865
Mallisaone-stopshoppingplace. .735
Ivisitthemallforitscomplementaryserviceslikecinema,foodzoneandpromotionetc. .695
Itisconvenientformetoshopatthatmallbecauseitworkstilllate .658
Exploration Value
Ienjoyexploringalternativestoresinmall. .731
Iconsideravisittothemallasalearningexperience. .571
Ivisitthemallforitsproductvarietyandassortment. .816
Ienjoyshoppingaroundtofindaperfectgiftforsomeone .802
Self-Gratification Value
Tomeshoppingisawaytorelievestress. .719
WhenIamindownmood,Igoshoppingtomakemefeelbetter. .759
WhileshoppingIcannormallyforgetmyproblem. .693
Shoppinginmallmakesmefeelhappy. .617
Epistemic Value
Thewell-knownnationalbrandsarebestforme. .787
Igoshoppinginmalltoseewhatnewproductareavailable. .697
Curiousnew/Mallsofferagoodselectionofwell-knownbrands.Iamcautiousintryingnewproducts
.623
Igoshoppingtokeepupwiththenewfashion. .599
Monetary saving value
Malloffersmequalityproductindiscountedrates. .944
Ivisitthemalltogetcompetitivepricingofproducts. .700
WhenIbuyproduct,IliketobesurethatIamgettingmymoney’sworth. .645
Social Interaction Value
Igoshoppingwithmyfriendstosocialize. .681
Igoshoppingwithmyfamilytosocialize. .620
IgotoshoppingwhenIwanttotreatmyselftosomethingspecial. .848
Enjoy seeking Value
Ienjoyshoppingjustforthefunofit. .778
Ifindshoppinginmallexcites. .669
Goingshoppingtomallisoneoftheenjoyableactivitiesforme. .712
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researchershavecoveredoverallproductcategoriesinthemallratherthanindividual.FortheKoreandiscountshoppers,valueformoneyisoneofthereasonstovisitthestorestopurchaseproducts.Inthisstudy,thisfactor“monetarysavingvalue”consistmultiplevariablessuchasproduct’sdiscountrates,competitivepriceofproductandhuntingbargain.Thedesiretoexplorethediscountofferactsasastimulusforthemtovisitthemalls(Khare,2011).Thepricereductionandthedeviationfromareferencepricecancreateperceptionofmonetarysaving(Chandonetal.,2000)thatmayleadtovaluetothecustomers.InmostofthecasesithasbeenfoundthatIndiancustomerspreferthemallshoppingduetomonetaryaspecti.e.valueformoneytheyseekinmall(PatelandSharma,2009;Devgan&Kaur,2010;Patney,2010;Khare,2011;KesariandAtulkar,2016).Ontheotherhand,Westernpeoplespendmorethanwhattheyusetoearnandwithlessconscioustowardsmonetarysaving.
Self-gratificationvalueisrankedasfifthfactor.Inthisstudy,consumerperceivedself-gratificationvaluedeterminedonthecriteria;relievestress,feelbetter,forgetmyproblemandfeelhappy.Self-gratificationvaluefoundcommonlyinthestudiesofTauber(1972),CardosoandPinto(2010),DaviesandHodges(2012),DaviesandDyer(2012).El-AdlyandEid(2015)positeditatsecondpositionintheirstudy.However,ArnoldandReynolds(2003)labelleditasagratificationshopping.Duringtheshoppingtripcustomerrelievesstressfromtensionofparkingtheirvehicles,safetyandsecurityissue,noburdentohurryupshopping.Theyfeelbetterandhappywiththepleasantenvironment,availabilityofrequiredneeds.Choosingthemallasashoppingdestinationmaychangethemoodofcustomersbyagratifyingthepleasantemotion(CaiandShannon,2012).
ThenextfactorextractedthroughEFAis“socialinteractionvalue”whichencompassesthreeitemsi.e.shoppingwithmyfriends,shoppingwhenonewantstotreatoneselftosomethingspecial,andshoppingwithfamilytosocialize.Thehighestloadingoffirstvariableisshownthatmostoftheconsumersprefershoppingwiththeirfriendsorpeers.Theyprefertheshoppinginthemallforescapismpurpose.Comparetofreestandingstore,mallsavailingthecenterofofferinggreateropportunitiestosocializeduetothepresenceofopenspaces,benches,andfoodcourts(Blochetal.,1994).Thisvaluebasicallypeopleperceivedoutsidethehomeforasocialexperiencewiththeinteractionofsuchasfriends,salespeople,familyandothercustomers,escapingfromroutineetc.duringtheirshopping(Kim,2002;TerblancheandBoshoff2004)ortofindsomethingtobeenthusiasticaboutorsimplytointeractwithotherpeople.SocialinteractioncameonfifthpositioninthestudyofEl-AdlyandEid(2015).ThisvaluewasalsoassessedbyDavisandDyer(2012)whileinvestigatingtheshoppingvalueinmassmerchandisersanddepartmentstores.Thecustomerperceivedthesocialinteractionvaluehighinthedepartmentstoreaccordingly,ontheotherhandKim(2002)andBlochetal.(1994)revealedthisvalueinmallshopping.
InEFA,thelastfactoris“enjoyseekingvalue.”Thisvalueisidentifiedonthreeitems“shoppingjustforthefun”,“excite”and“goingtomallisoneoftheenjoyableactivity.”Inmallshopping,enjoymentisrelatedtothesocial,monetaryaspectandhedonicmotiveaccordingtoJamaletal.(2006).Previousstudiesonperceivedvaluesinmallcontextdonotrevealeditasaseparatefactor.InthecurrentstudyitemergedasanimportantfactorwhichshowsitsrelevanceinIndiancontext.Thefactoraddressesenjoythattheyoungcustomersprimarilyseekatmall.AsmallprovidestheshoppingexperiencewithentertainmentthereforeIndiancustomersgothereforenjoypurpose(SrinivasanandSrivastava,2010).Reflectthesocialdimensionwithinthemallpresentingitasanenjoyableactivity.
CoNCLUSIoN
Thepresentstudyconcludedthatcustomerperceivedmallvaluesisimportanttounderstandcustomers’hiddendesireandexpectationsfromashoppingmall.Understandingthediversityandcomplexityofperceivedmallvalueshelpthemalldevelopersandretailers.Thesuccessofmalllargelydependsoneverydayfootfallsitreceived.Customerfootfallscanbeincreasedbyarticulatingcustomerperceivedvaluesinmalldesignandfacilitation.Inthisstudysevenshoppingvalueshasbeenidentifiedandvalidated from thecustomerperspective.This study is conducted in Indiancontext; therefore, it
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givesanedgetounderstandIndianmallshoppersandtheirperceivedvalues.Thisstudyrevealedandconfirmedtheperceivedvalues;self-gratificationvalue,conveniencevalue,socialinteractionvalue,explorationvalue,epistemicvalue,monetarysavingvalueandenjoyseekingvalue.Thesequenceororderofthesevaluesisentirelydifferentwithwhatitwasextractedinothergeographicalcontextandonothercustomergroupsi.e.fromthestudyofEl-AdlyandEid(2015),Kesari&Atulkar(2016),Khare(2011),ArnoldandReynolds(2003)andBabinetal.(1994).Thesequenceoftheperceivedmallvaluesindicateitsimportance,itmeanscustomerperceivedvaluesvariesamongdifferentsetofcustomers.
Managerial Implication and Future Research directionsThecriteriaemphasizedinthestudyrevealedtheprioritycustomerperceivedmallvaluesthatmallmanagersneedtodesigntheshoppingvalues(Babinetal.,1994,2005;BabinandDarden,1995).Thisstudyenlightenstheinsightsaboutperceivedmallvalueswhichcustomersderivedduringtheirmallvisit.Adeeperunderstandingofthesevaluescanhelpthemallmanagersandretailersindesigninganddevelopingcustomercentricstrategy.Afterallthesuccessoftheretailformat(i.e.mall)largelydependsuponperceivedmallvaluebecausenowadayscustomerbecomesmorevalueoriented.Allvisitorswhoenteredintheshoppingmallmaynotbuyers.Theyvisitmallfornon-shoppingpurposestoo.Sometimestheygotomalljustforaccompaniedtheirfriendsorfamilymembers.Therefore,themallisnotmereashoppingdestination,butitisaplacewherepeoplecomeforfunandentertainment,tomakethemselvesrelax,tosocializeandalsotolearn.Theseperspectivesofmallmakethejobofmallmanagerandretailerstougher.Havingdifferentmotivestovisitthemallthesevisitorsderivesdiversevaluesfromamall.Inthisstudyitwasexperiencedthatshoppinginthemallisfunevenforthepeoplewhoactuallydon’tbuyanythingfromthemall,theywerejustaccompanyingtheirfriendsorfamilymembers.Itwasfurthernoticedthatthesefellowshoppers/mallvisitorsareactuallyexploringthemallmorethantheactualshoppers.Furtherthesemallvisitorscanbeconsideredasshadowshoppersastheyareconsumingtheretailenvironmentalotbutnotbuyingtheproducts.Therefore,managingvaluesshadowshoppersderivedareequallyimportantasthesevisitorsaretheprospectivebuyers.
In a market like India which is dominated by unorganized retail, changing lifestyles andconsumptionpatternsarealso transformingshoppingvalues thatattractconsumers tovisitmalls(Dholakia&Sinha,2005).Therefore,understandingthediversifiedvalueratherthanutilitarianandhedonicshoppingvaluesbecomesmoreimportant.Sincelargesharesofmallfootfallsareofyoungcustomers,catering theirneeds is theutmostchallenges formalldevelopersand retailers. In thestudy,itisnotedthatcustomersareequallysensitiveaboutthemallhavingfacilitiesandwiththeirconcernedbrand.Theirdecisiontorevisitthemalllargelydependsontheexperiencetheygetintheirprevious,nomatterwhethertheyshoppedanythingornot.Indiancustomersaremorecalculative,theirdecisiontovisitthemallistheaggregationofmallvalues.Understandingtheperceivedmallvaluesformallvisitorsasthesumofthesevaluesmayenhancetheoverallshoppingexperienceandconsiderationbythemallmanagerrequiretoholdingprofitablecustomersbyenhancingcustomersatisfaction,gainingthecompetitiveadvantageoverothers.
ThisresearchcoverstheperceivedvaluetowardsmallandadministeredonlyonIndiancustomers.SampleforstudyweretakenonlyMadhyaPradeshstate,forgeneralisationpurposeIndiaasawholecanbeselectedforsamplesurvey.ResearchstudiesmayalsobeconductedondifferentgenerationalcohortsgroupsofmaleandfemalesuchasBuilders,Boomers,GenerationXandGenerationY.Someoutcomevariablescanbeusedtomeasurethesevalues.
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Anil Kumar Kashyap is an Assistant Professor at Dr. Harisingh Gour Vishwavidyalaya (A Central University), India. He worked with many institutions including Indian Institute of Management (IIM), Ahemadabad, National Institute of Fashion Technology (NIFT), Gujarat University, and University of Lucknow etc. He holds the degree of MBA Marketing and Ph.D. in Business Administration from University of Lucknow. He has published journal articles, book chapters and attended many seminars, conferences and workshops. Dr. Kashyap works in area of management including retail,e-commerce, consumer behaviour, entrepreneurship and computer & IT applications in management.
Ajay Kumar is a Ph.D. research scholar in department of Business management, Dr. Harisingh Gour Central University, India. He has submitted his Ph.D. in Business Management. He holds the degree of MBA Marketing & Finance. He published journal articles and attended many seminars, conferences and workshops. He has interest in marketing, retailing, consumer behaviour and online shopping behavior.