The concept of shopping in malls in India is undergoing a dramatic change. A few years back, people just used to visit a lot of stores for their needs, but off late every shopping mall seems to be overflowing with people of different ages- from children to adults. With globalization at its peak and paving a way for the international brands, people now feel that they can get anything that they want in these shopping malls be it electronic goods, apparel and consumer durables.
For the past few years researchers have been working to establish a relationship between shopping in malls and the income level of people. The reason for conducting such a research is to find out which sections of the society (lower middle class or higher middle class) do a lot of shopping in the malls. But yet, not many people will be comfortable in sharing their income details as it is personal. This is the area which tests the researchers, as to how they will be able to establish a positive relationship between the two.
BACKGROUND AND SCOPE OF STUDY:
This study will be conducted with the aim to develop a relationship between shopping in malls and the income level of people. The study primarily focuses on the consumers buying behavior in a mall. It helps us to understand the mindset of the consumers, by which we can develop more products according to their needs. For this study the Spencer’s Plaza mall will be chosen. Primary data, which is the feedback received directly from the consumers, will be collected and represented in statistical form. The outcome so obtained will be analyzed and possible conclusions will be drawn.
Recently, there has been a tremendous increase in the number of shopping malls in Chennai. The reason for the sudden upheaval of so many shopping malls can be related to globalization taking its pace. The growth factors for the shopping malls are the conscious citizens who prefer a sophisticated environment to shop and also with so many international brands making its presence in India, it has created the need to establish a place which has everything within one roof. The concept of shopping malls in India is largely gaining popularity as it attracts customers by way of excellent ambience, style and elegance, having the potential to make one shop and enjoy the experience as well. Spencer’s Plaza, Big Bazzar, Ampa skywalk, City Centre are the big players today. Adding to the list are the upcoming Chennai Central, Ramee Mall etc.
OBJECTIVES OF STUDY:
- To conduct an in depth study on consumer buying behavior in a shopping mall
- To identify the relation between the income pattern and shopping in the mall among the selected samples.
- To know what the average consumer prefers to buy today from the samples selected.
- To gain information regarding consumers monthly income, general buying preferences, visiting preferences and the expectations of a mall among the selected samples.
- To establish a correlation between consumers income level and shopping in malls.
Null Hypothesis: Ho: Shopping in the mall and consumer income is not related.
Alternate Hypothesis: Ha: Shopping and consumer income is related
Ha:μ1 > 0
SAMPLING DESIGN AND TOOLS:
The study will be conducted among people visiting Spencer’s Plaza mall. The type of sampling used for the study will be Stratified Sampling, as there will be a difference among the people pertaining to age, occupation and income level. Data will be collected by way of Primary and Secondary data. Primary data will be collected by way of a questionnaire, and a field survey of a sample will be conducted in some of the busiest areas in Chennai such as T. Nagar, Adyar, Nungambakkam and Alwarpet. Consumers will be directly approached and presented with a questionnaire which will be designed to gain information on their monthly income, general buying preferences, visiting preferences and expectations of a mall. Secondary source of data will be collected by way of magazines, internet news articles, journals and other sites. The type of the research carried out will be an exploratory research, as it gives first hand information, which is primary data and often more reliable than secondary data. The data collected from samples will be tabulated, analyzed and interpreted for results.
The collected data will be analyzed statistically. The ‘Chi- Square’ test or the ‘Goodness of fit’ test will be used to test the null hypothesis. The Chi Square test will be of help in determining the difference between the observed and the expected values. A ‘Correlation’ analysis will be done to test the relationship between shopping in malls and consumers income level. For simplifying the analysis of the collected data, the data will be tabulated and presented graphically for easier understanding as well.
- A clear understanding of consumer dimensions and mindset
- Customer loyalty programs to be emphasized upon as it is a significant factors
- A clear picture of the indicators which creates a drive to purchase in the consumers can be understood.
- The relationship between shopping in malls and income level, if any, will be established
LIMITATIONS OF STUDY:
While working on this project I will have to face some difficulties while collecting data. The samples will be collected only from one shopping mall, and hence preference of mall cannot be generalized. People may not be interested and comfortable in providing family income details. They may consider it to be personal to disclose such details. It may be difficult to get all the respondents to answer in the sample, as they may not be willing to spend time to answer the questionnaire. Time constraint will also be one of the limitations of the study as verification of all the responses collected from consumers will not be possible.