The retail industry is a division that consists of individuals and companies that are involved in the selling of finished products to consumers. When it comes to the customers associated with the retail industry, there are five different categories in which they can be put into. These categories include; loyal, discount, impulse, need-based, and wandering customers. Loyal customers represent up to 20 percent of the customer base while making no more than 50 percent of sales. The discount customers shop in stores quite often but only shop depending on the sales and markdowns. Impulse customers purchase without limitations and will buy items with no regards to price, brand, etc. The need-based customers are on a mission and will only buy what they intended on purchasing. Wandering customers are the last type of customer and they are the ones who most likely have no desire to purchase anything but are only looking to get a sense of the community and browse the products. Out of the five categories of customers impulse and loyal customers are the ones who the retail industry will primarily focus on because the loyal customers are the main people who keep coming back to the retail store and the impulse customers are going to purchase anything you can get their interest on. Every product starts its distribution with the supplier but what happens after that can differ over the past few years there has been an evolution from a single channel distribution to a multi-channel retail distribution. Consumers are now not only faced with what to buy but they now have the choice of how they wish to obtain their product. Multi-channels shopping options now include; ordering online and pick up in the store, visiting the store and order online via ...
When comparing two different ways of shopping most people do not even think about the difference, they do both and not even realize it. In today's society people shop while at work, after work and on the weekends, whenever time permits. Stop and think how can I get more time in the day for family or just myself? The best way to figure that out with all the recourses we have is to go into a store and spend time looking through racks and waiting in endless lines to just purchase something. I compared going into a store verses online shopping; to see which one will save you time and money.
To understand the history of retail from a shopper’s perspective, one need not revisit centuries. The transformation in shopping behavior that last few years have brought, is more relevant today than ever before. Let’s consider demographic, social, economic and political changes that last decade and a half has bought.
Online and in-store shopping differentiates in various ways. However, they both are convenient ways to shop. Recently, online shopping has been most convenient for me, but I enjoy both ways of shopping. I believe that shopping preferences change depending on a person’s situation. I noticed that many people are starting to prefer online shopping more than in-store shopping.
When comparing two different ways of shopping most people do not even think about, they do both and not even realize it. In today?s society people shop while at work, after work and on the weekends, whenever time permits. Did you ever stop and think how can I get more time in the day for family or just myself? The best way to figure out with all the recourses we have; still most of us go into a store and spend time looking through racks and waiting in endless line to just purchase something. I compared going into a store verses online shopping; to see which on will save you time and money.
Hansen, Torben, and Hans S. Solgaard. New Perspectives on Retailing and Store Patronage Behavior: A Study of the Interface between Retailers and Consumers. Boston, Mass: Kluwer Academic Publishers, 2004. USC Upstate Ebook. Web. 28 February 2011.
Customers are quick to fall into the category of “belonging” found in Maslow’s hierarchy of needs. They feel as if in order to belong or to feel loved and respected by others they must try to attain what everyone else has or wants. This is especially true during the holiday season when people feel that what they buy reflects how they feel about the people they buy presents for. If you feel that you must purchase a certain present that you know will be out of stock and hard to find, you are better off shopping online or by mail. Shopping online and by mail is becoming the new wave of shopping and it is a smart, convenient, and timesaving process.
There are some directions for future researches are provided by this survey. First, future researchers could investigate the differences of shopping motivations based on different consumer market segments, for example, education, income, age. Future research should access consumers in a large demography extend but be more specific. Secondly, cross culture can be further investigated. According to Ozen and Kodaz (2012), different cultures have different motives for shopping online. It is worth to see how the result differs from culture or region setting for university students.
The Information revolution is changing our daily lives. With the rapid development of computer and internet, online commerce become quite common and plays an important role in the modern world. The online business has booming development in these few years. US online retail sales raised an average of 11% in the first three months of 2009 (“US Online Sales Up,” 2009). The growth of online sales may due to the growing number of consumers who shop online. In the case of Asia, survey reported 77.6% of Internet users have online shopping experiences in 2003 (as cited in To, Liao & Lin, 2007). Online shopping is very different from traditional shopping. Consumers cannot touch and check the product before purchasing it, which means they are at higher risk of fraud than traditional shopping. Consumers also have other concerns such as credit cards security of online shopping. Then questions should be raised: what is the advantage of online shopping? Why people shop online? In following paragraphs, the advantage of online shopping for the consumer and consumer’s motivation to shop online will be reviewed and discussed.
Saving money takes time and sensible planning. As an online business owner saving money leads to further funds for the business. Both forms of shopping have their own positives and negatives. With careful research, there are many deals to find when combing both brick and mortar and online shopping.