Indian retailing industry has seen phenomenal growth in the last 5 years. Organized retailing has finally emerged from the shadows of unorganized retailing and is contributing significantly in the growth of Indian retail sector. ➢ Organized retail form 10% of total retailing. In the meantime, the organized sector will grow at the rate of around 30% per annum ➢ Cultural and regional differences in India are the biggest challenges in front of retailers. These factors deter the retailers in India to adopt a single retail format ➢ Hypermarket is emerging as the most favorable format for the time being in India. The arrival of multinationals will further push the growth of this format ➢ Convenience store (or its variation) format is the best way to compete with unorganized retailing in India.
Keeping the above facts in mind, this research is an attempt to throw light on the following objectives: 1. To understand the market
1. To understand the behavior of customer.i.e Buying behavior. 1. To understand prospect of retail
Being such a crucial topic and an issue of concern not only to the big businesses but also to the economy as a whole, an analysis on mere details available would not ensure justice to the report nor would stand the test of reliability and accuracy. Hence a practical research would serve the purpose. The methodology that was practically applied by me to collect information is detailed as under:
➢ DATA COLLECTION:
Customers in the malls were approached directly with questionnaires, whereas some were contacted through telephonic calls. The main reason behind doing survey in malls as maximum retail outlets can be easily found in malls. A specific set of questions were structured for this purpose. An analysis of the data collected by the method has been interpreted by tabulation and graphical representation.
➢ Sample size of customer: 50
2. The survey is conducted only in MIRA ROAD and BHAYANDAR 2. Certain assumptions are made for the calculation method. ➢ The survey is conducted on the customers who shopped for that specific day.
From the above graph, we observe that out of 100 people visiting malls; 1. 50% visit weekly
1. 32% visit monthly
1. 10% visit fortnightly
08% not specified
Most of the people frequently visit malls i.e. on a weekly basis which accounts to almost 50% of the sample. Whereas the scene is quite different in case of fortnightly and monthly visits. People prefer monthly visit to a mall over a fortnight visit i.e. nearly 32% of the people prefer to visit malls monthly rather than fortnightly. 2.
From the above chart, we observe the following:
1. 29 go for Shopping
1. 13 for Window Shopping
1. 19 for Get-Together
1. 18 for Movies
1. 0 for other reasons
Maximum numbers of people visit a mall for shopping purposes. Staggering second comes movies and get together. These two categories are the target audience i.e. the section of the sample that contributes to the business
From the above graph, we can observe that out of 100 people visiting a mall: 1. 24 shop for Food and Groceries
1. 25 shop for Apparel and Foot wear
1. 5 shop for Health and Beauty products
1. 3 shop for Home furniture and Household goods
1. 4 shop for Books
1. 14 shop for Others
Food and Groceries clearly top the list in consumer buying preference in a mall and is closely followed by Apparel and Foot wear. Other items such as toiletries, chocolates, Health and...