Factors Effecting Conversion of Footfalls in a Retail Store

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International Journal of Management and Strategy (IJMS) 2012, Vol. No.3, Issue 4, January-June 2012

http://www.facultyjournal.com/ ISSN: 2231-0703

“FACTORS AFFECTING CONVERSION OF FOOTFALLS IN RETAIL STORES” Abu Bashar, Assistant Professor, Brown Hills College of Engg & Tech., Faridabad, Haryana, INDIA

ABSTRACT

In this research paper efforts have been made to explore various factors which affect the behavior of consumers in a retail outlet. A random sample of respondents visiting retail outlets has been considered for the present study. The paper mainly focuses towards various factors which affects the decision of the consumer in the store while they visit there for shopping. So, this research is mainly concerned with the behavior of the consumer and the various factors which are of enormous importance in converting the footfall within the stores. The paper also intends to recommend some feasible and viable strategies to be followed by retail outlets to maximize the percentage of conversion.

Keywords: Behaviour, Consumers, Conversion, Factors, Retail, Shopping, Strategies

International Journal of Management and Strategy

ISSN: 2231-0703

International Journal of Management and Strategy (IJMS) 2012, Vol. No.3, Issue 4, January-June 2012

http://www.facultyjournal.com/ ISSN: 2231-0703

INTRODUCTION It becomes really very difficult for the small retailers and similar formats to compete with hyper marts and malls. The big retailers are putting cut throat competition to them. So, it becomes very important for retailers to gain a deeper insight into retail consumer behavior. The study of consumers helps firms and organizations improve their marketing strategies by understanding issues such as how 

The psychology of how consumers think, feel, reason, and select between different alternatives (e.g., brands, products);



The the psychology of how the consumer is influenced by his or her environment (e.g., culture, family, signs, media);

 

The behavior of consumers while shopping or making other marketing decisions; Limitations in consumer knowledge or information processing abilities influence decisions and marketing outcome;



How consumer motivation and decision strategies differ between products that differ in their level of importance or interest that they entail for the consumer; and



How marketers can adapt and improve their marketing campaigns and marketing strategies to more effectively reach the consumer.

Understanding these issues helps us adapt our strategies by taking the consumer into consideration. For example, by understanding that a number of different messages compete for our potential customers’ attention, we learn that to be effective, advertisements must usually be repeated extensively. We also learn that consumers will sometimes be persuaded more by logical arguments, but at other times will be persuaded more by emotional or symbolic appeals. By understanding the consumer, we will be able to make a more informed decision as to which strategy to employ.

International Journal of Management and Strategy

ISSN: 2231-0703

International Journal of Management and Strategy (IJMS) 2012, Vol. No.3, Issue 4, January-June 2012

http://www.facultyjournal.com/ ISSN: 2231-0703

There are three fundamental patterns which a consumer can follow and they could be: (I) Brand first, retail outlet second (ii) Retail outlet first, brand second (iii) Brand and retail outlet simultaneously. Good customer service is the lifeblood of any business. You can offer promotions and slash prices to bring in as many new customers as you want, but unless you can get some of those customers to come back, your business won’t be profitable for long. Good customer service is all about bringing customers back. And about sending them away happy – happy enough to pass positive feedback about your business along to others, who may then try the product or service you offer for...
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