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Related Flashcards
Related Topics
Cards In This Set
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Top 5 Factors in Apparel Retailing.
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1. Latest Trends 2. High-Quality Products 3. Brand Names I Want 4. Broad Selection 5. Full Range of Services
NOTE: Factors vary by category. Number 1 factor in home products is broad selection. |
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The Retail Scene
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Internet Retailing • Barriers to Internet Shopping • Characteristics of Online Shoppers
Store-based Retailing The Internet as Part of a Multi-Channel Strategy |
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Characteristics of Online Shoppers - The following are results of a study which identifies the following eight online shopper segments:
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Shopping Lovers,
Adventurous Explorers, Suspicious Learners, Business Users, Fearful Browsers, Shopping Avoiders, Technology Muddlers, Fun Seekers |
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The following are the results of a Roper survey asking consumers why they don’t like shopping in stores:
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74% - salesperople are poorly informed; 73% - waiting in a long line; 64% hard time finding things; 64% Parking and traffic
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In-store shopping is perceived as neither fun nor efficient by many. Retailers are fighting back with ??? activities and technologies to improve the experience: |
Store-based Retailing
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Is becoming increasingly essential.
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A multi-channel retail strategy approach
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This approach can take on many forms and relates to the shifts in consumer shopping patterns.
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A multi-channel retail strategy approach
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Over 70% of the top 100 online retailers in the U.S.
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Are multi-channel retailers.
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Are consumers who browse and/or purchase in more than one channel.
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Multi-channel shoppers
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Retail outlet selection involves a comparison of the alternative outlets on consumer’s evaluative criteria:
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Outlet Image
Retailer Brands Retail Advertising Outlet Location and Size |
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Store brands are closely related to store image, and at the extreme,
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The store or outlet is the brand.
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Attributes Affecting Retail Outlet Selection - Retailer Brands-Traditionally, retailers carried only
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Manufacturers brands,and only a few, such as Sears and Wards, developed their own brands.
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Is used to calculate the level of store attraction based on store size and distance from the consumer
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The retail attraction model, or the retail gravitation model,
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Attributes Affecting Retail Outlet Selection - Retail Advertising
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Expenditure of Individuals Drawn to a Store by an Advertised Item
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Attributes Affecting Retail Outlet Selection - Outlet Location and Size
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Location and size play an important role in store choice. All else equal, consumers generally select the closest
store. Outlet size is also important. Generally, customers prefer larger outlets over smaller outlets. |
