A Study of Preference Factors of Consumers in Multibrand Retailing

Dr. Abhaya Ranjan Srivastava

doi:https://doi.org/10.51976/gla.prastuti.v5i1.511601

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A Study of Preference Factors of Consumers in Multibrand Retailing

Abhaya Ranjan Srivastava

Vol 5 , Issue 1 , January - June 2016 | Pages: 1-13 | Research Paper

https://doi.org/10.51976/gla.prastuti.v5i1.511601

Published Online: July 13, 2016

Author Details ( * ) denotes Corresponding author

1. * Abhaya Ranjan Srivastava, Assistant Professor, Department of Management, Birla Institute of Technology, Ranchi, Jharkhand, India

Retailing has been there with our life since generations. Indians cannot think of their life without retailing. Retail outlets are available in every nook and corner of India. Retailing has evolved as one of the fastest growing industry in last two decades. The changing lifestyles of consumers have supported the growth as well as acceptance of the organised retail.Yet the organised retail sector is still evolving and holds only an 8% share of the total Indian retail market.

The success stories of global retailers have been a source of inspiration to the Indian business houses for entering the retailing business. This resulted in the entry of business houses like Birla’s, Tata, Raheja’s, Reliance, etc. in the Indian retail sector. The Indian retail sector witnessed a constant entry of new players and expansion of the existing ones. Organised retailers in the early years witnessed a substantial growth in their retail businesses but with passage of time the market became more competitive and challenging.

As organised retail was flourishing in India unlike other states Jharkhand also witnessed the entry of Multibrand retail chains like Reliance, Vishal, Spencer, Big Bazaar but all of them could not sustain. Spencer exited Jharkhand soon followed by closure of Vishal twice in Dhanbad. This signalled that just opening of stores would not work. Retailers need to understand the changing preferences factors affecting consumers buying to be successful in the long run. This study is an attempt to identify the consumer preference factors in Multibrand retailing. Factor analysis has been used to identify the preference factors.

Keywords

Organised Retail, Globalisation, Preference Factors.

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