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- Title
A Study on Retail Store Attributes Influence on Consumer Preference of Store Selection in Visakhapatnam City.
- Authors
Rao, K. V. V. Muralisomeshwara; Nagaraj, K. V.
- Abstract
Indian retail Industry is the second largest among all the industries in our country, accounting for country's 10% GDP and around 8 per cent of employment. The retail business in India has been as one of the most unique and quick paced ventures with a few players entering the market. Be that as it may, every one of them have not yet tasted success in light of the many companies started venturing in to this sector apart from that they need good amount of initial investment which is increasing rivalry among the companies to sustain in this competitive market. The all out idea and thought of shopping has experienced a consideration attracting change terms of organization and customer purchasing conduct, introducing a transformation in shopping, in India. Present day retailing is under phenomenal growth with rapid increase in number of supermarkets, departmental stores and hypermarkets in the country. Modern retail in India is seen through clamoring strip malls, multi celebrated shopping centers and tremendous complex that offer shopping, amusement and nourishment all under one roof. Indian retail sector is one of the fast paced industries. When compared to global consumer spending India is attracting Global retail giants to invest in our country. The entry of global giants in the retail sector is changing the retail landscape in India, regarding organization structure, shopper purchasing behaviors, Investment and foundation, apart from that this is having a great impact even on increasing the consumer expectations over the services offered by the stores; this would be the biggest challenge to the domestic and traditional players. Consequently, the endurance of the retailers has been based on their understanding the changing needs, preferences and buying behavior of the consumers. In these consequences this paper aims to study the attributes influence on consumer in the process of preferring a retail store for satisfying their needs in city of Visakhapatnam as the city is a fast growing city in terms of population and diversified culture and even nominated a smart city by the government of India. An exploratory (empirical) research, based on questionnaire survey research design, was conducted for identification of factors. Questionnaire design was done through exploratory (secondary) research. Data was collected from 100 respondents by using purposive sampling technique to collect the data and the same was analyzed by adopting appropriate technique's by using SPSS Package.
- Subjects
INDIA; RETAIL stores; CONSUMER preferences; CONSUMER behavior; CONSUMPTION (Economics); SHOPPING centers; SMART cities; SUPERMARKETS; RETAIL industry
- Publication
3D: IBA Journal of Management & Leadership, 2020, Vol 12, Issue 1, p82
- ISSN
2230-7524
- Publication type
Article