Essay About Bn Retail Market And Impulse Buying Behavior

Factors Affecting Impulse Buying Behavior in the Malls Special Reference to Noida City
Factors Affecting Impulse Buying Behavior in the Malls Special Reference to Noida City
FACTORS AFFECTING IMPULSE BUYING BEHAVIOR IN THE
MALLS SPECIAL REFERENCE TO NOIDA CITY”
Ms. Rekha Saraswat
Asst. Professor,
G.N.I.T. MBA Institute.
Gr. Noida,India
ABSTRACT
“Retailing is the final step in the distribution of merchandise- the last link in the
supply chain connecting the bulk producers of commodities to the final consumers.” One
undergoing this process is referred to as Retailer. Retailing includes diverse products such
as apparel, footwear, consumer durables, financial services and leisure. However in India
retail trade remains in the backward state but at the same time is poised to expect a rapid
growth in tandem with the economic growth. Indias $350-400 bn retail market -$7.5 bn
organized retail is growing about 25-30% annually against economic growth of around 8%
a year. With this onset many players are entering the market with various products and
strategies to cash upon this development in retail sector, thereby increasing competition.
Similarly there are various retail formats coming up to grab the opportunity in the retail
sector.
One of the most prominent retail formats coming up is “Shopping Malls” which can
be defined an arrangement of retail stores and providing the right mix of shopping, food
courts and entertainment and parking facilities. The retail space is shared by anchor stores
and other retailers (tenants), who will pay the developers of the mall-rent or lease payment
for putting up the shop within the mall premises. Sarang Panchal, Executive Director
Customized Research ACNielsen South Asia says, “With increase in the sheer numbers of
malls and modern format stores shopping has almost become a national pastime in our
country especially in the cities. Strong economic growth along with booming young adult
populations with unprecedented levels of disposable incomes has made people more
conscious of the latest trends and fashions. No one wants to be left behind, Indian
consumers are ever willing to upgrade their knowledge where latest trends are concerned
and these definitely helped in increasing the footfalls in all these modern malls
mushrooming across the city.”
Key Words: (Organized retailing, Impulse buying behavior, Shopping malls)
? Indian Journal of Commerce & Management Studies ISSN – 2229-5674
? Internationally Indexed Journal ? www.scholarshub.net ? Vol–II , Issue -2 March 2011 ? 183
INTRODUCTION:
An impulse purchase or impulse buy is an unplanned or otherwise spontaneous purchase. One who
tends to make such purchases is referred to as an impulse purchaser or impulse buyer Impulse buying can
also extend to so-called “big ticket” items such as automobiles and home appliances. Automobiles in
particular are as much an emotional purchase as a rational one. This in turn leads auto dealers all over the
world to market their products in a rapid-fire, almost carnival-like manner designed to appeal to emotion
over reason.
Impulse buying disrupts the normal decision making models in consumers brains. The logical
sequence of the consumers actions is replaced with an irrational moment of self gratification. Impulse
items appeal to the emotional side of consumers. Some items bought on impulse are not considered
functional or necessary in the consumers lives. Preventing impulse