With a growth of shopping malls, there has been a consequent increment in several factors that affect buying decision making of consumers. Among the several fluctuating factors, age, buying patterns, monetary spending, time frame, purchase of items and further shop seeking are the elements that impact buying decisions the most (Bailey 2013).
Additionally, a consideration of all the specifications tends to develop an inter-related connection between them. The literature review focuses on the fluctuating characteristics to be able to effectively develop the research proposal.
With a set of malls in the country, people largely visit the market places in order to buy their most desired goods. As stated by Solomon, Russell-Bennett and Previte (2012), demand and desire go hand in hand. There has also been several changes in the selection process of commodities in the modern world, which has evolved to be one of the most important topic of discussion for store managers. In addition to depending on the various demographic features of the clients, the behavioral patterns play a key role in the buying decision mechanism. Also, with an increase of knowledge there has been segregation among the behavioral patterns as well. With a diversification of culture and economic conditions of countries, there is a consequent variation in the shopping pattern.
In addition to the gender, age, income levels and personal perspectives fluctuations, the marketing frequent also greatly relies on its frequent ranges. Concerning Australia, the countries independent trends and practices also influence the customers buying behaviors. As opined by Cavusgil and Kim (2014), the attitude and various mall characteristics like décor, service levels, store layouts and products product tend to drive behavioral patterns. With a growth of concepts in the modern era, Australians have largely undertaken smart shopping methods. With an emphasis on their personal desires and also meeting self needs, the newly developed mechanism proves to be a factor of efficient marketing.
Figure: Consumer shopping and relationship with variables
(Source: Kim, Xu and Gupta 2012)
An inclusion of large diversity of products under a single roof has also effectively grabbed attention of the consumers. As compared to other commodities, apparel wear, electronics and food products dominated the market exchange pattern. Furthermore, the health, accessories and beauty product sales also depend on the varying moods of the consumers. Stores experts also recognize growth chances among the female sectors over the male sex groups. The heterogeneous nature of shopping preferences, costs and efficiency also influences the relationship between customers and several shopping attributes.
The purchase frequency of people greatly depends on factors like pricing and store seeking. According to Kim, Xu and Gupta (2012), household clients are more prices sensitive and also visit the mall on a regular basis. Further, an increased frequency of buying is sufficed by a low ranging price acceptance factor. With a presence of substitute goods in the mall, there arises an element of price flexibility which is the reason behind the frequent buyer’s approval of narrow price latitudes. Further in increase in shop seeking leads to a creation of discounts and lower cost levels. As compared to the loyal and frequent buyers, the random shoppers are confronted with a different kind of experience. In addition to a diversification of 21 major product groups, offered by a large number of brands the Australian market greatly depends on store intensity and variety for development (Panzone et al. 2016).
Furthermore, with a growth of the topic in the nation, experts often try to create a mathematical relation to the fluctuating groups. In the ever growing mall conditions and demographics of the consumers, Australia reflects a decreased store loyalty with a corresponding increment in shopping diversity. In the words of Solomon (2014), an economical distribution of income in the country it is seen that customers spread expenditures over a number of outlets. In the recent times, there has been an increase in likelihood of people buying goods from expensive stores as well. One of the most impacting reasons that affect shopping frequency patterns is a difference in the store variety patterns. Moreover, younger shoppers tend to spend a large amount of time for acquiring their needed goods as compared to the rest of the sections.
Analyzing the several aspects of modern day shopping, it can be inferred that there exists a direct relationship between the purchasing and demographics of the customers. Concerning the Australian market, malls are faced with a challenge to not only fulfill their product demands but also take into consideration the fluctuating factors of their clients.
Moreover, it is often that store managers seek expert help to develop operational functions in an effective way. Scrutinizing the various topics, it can be concluded that commodity purchase and business of malls will only increase with a stabilization of the influencing factors.
Bailey, M., 2013. Consumer profiles and behavior in Australian shopping centers, new benchmarks for assessing mall shopping patterns.
Cavusgil, E. and Kim, D., 2014. Hedonic vs. Utilitarian Perspective of Retail Store Loyalty: Insights from a National Study of Households. Kilts Booth Marketing Series Paper, (1-020).
Kim, H.W., Xu, Y. and Gupta, S., 2012. Which is more important in Internet shopping, perceived price or trust?. Electronic Commerce Research and Applications, 11(3), pp.241-252.
Panzone, L., Hilton, D., Sale, L. and Cohen, D., 2016. Socio-demographics, implicit attitudes, explicit attitudes, and sustainable consumption in supermarket shopping. Journal of Economic Psychology.
Solomon, M., Russell-Bennett, R. and Previte, J., 2012. Consumer behaviour. Pearson Higher Education AU.
Solomon, M.R., 2014. Consumer behavior: Buying, having, and being. Engelwood Cliffs, NJ: prentice Hall.
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