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The IUP Journal of Management Research

Influence of Socioeconomic Factors on Consumer Perception of Traditional Stores and Shopping Malls

Article Details

Pub. Date	: April, 2022
Product Name	: The IUP Journal of Management Research
Product Type	: Article
Product Code	: IJMR030422
Author Name	: Nilakshi Roy Medhi* and Md. Abdur Rashid**
Availability	: YES
Subject/Domain	: Arts & Humanities
Download Format	: PDF Format
No. of Pages	: 15

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Abstract

The Indian retail market has witnessed rapid growth and is projected to expand at a faster pace due to the strong economy, changing lifestyle, growing personal disposable income, entry of big international players, young population, tendency to spend more and the rapid development of cities. In this paper, an attempt has been made to investigate the relationship between the perceptual thought and socioeconomic profiles of consumers in Guwahati city, the largest retail hub in Assam. It is a quantitative research, done using a survey questionnaire administered to consumers who visit traditional stores and shopping malls. Data was analyzed in SPSS 20 software. Chi-square analysis shows a significant relationship between monthly income and the payment mode in choosing traditional stores and shopping malls. Hence, this relationship has to be taken into consideration by the retailers to understand on what basis consumers select the retail formats, while focusing on their strategies for gaining the attention of more consumers.

Introduction

The term 'perception' on consumer behavior reveals how the five senses act as receptors of information and are directly related to the learning and emotions of consumers (Nissim, 2006). Consumers perceive the retail business through their senses with their learning process and emotion (Lindstrom, 2005). The more positive the reaction between the different senses, the stronger the interaction between the retailer and the consumer (Park et al., 2005). The retailer should therefore give importance to most or all the senses to build stronger connections and emotional bond with consumers (Enquist, 2006).