Consumer preferences for retail formats: An empirical assessment

Indian retail sector has witnessed revamping exercise as the traditional retailers paved the way for new formats. Modern retail formats extend an ideal shopping experience to the consumers by blending a wide range of products, entertainment and services under a single roof. In this changing retail environment, understanding the psyche of consumers is critical for successful retailing. Thus, a study was conducted to assess the preference of consumers towards various retail formats such as General stores, Super/Hypermarkets, Shopping malls, Exclusive brand outlets and Online market places. Primary data were collected by mailed questionnaire method and to find out the most preferred retail format, the method of paired comparison was followed. It was found that Hyper/Supermarkets are the most preferred retail format, followed by general stores and online market places. The emerging retail formats seem to attract and influence young minds by providing easy access, well-designed layout, ambience, home delivery, etc.