Fun, Food, Films and fashion: Retail mix for generation next....

The down turn of the mass market has meant that consumers can no longer be thought of as a monolith, and consumer segmentation becomes necessary in order to introduce simplicity and equality to the analysis of an increasingly stratified consumer base. Generational marketing is one way of segmenting a market, and it provides insight into consumers’ underlying values and general experiences, which ultimately translates into buying behavior. With the growing population of “ Young ” in customer base, the marketers are focusing now on them by providing goods and services of their taste. Retailing is no exception, as various malls are doing good business by providing the space for multiplexes, food courts, shopping stores etc. This is a new way of attracting generation next consumers to malls. Multiplexes along with food courts and shopping stores are a perfect example of convergence of retail and entertainment which is the need of generation next (gen next). The gen next consumers want to watch movie in a surrounding which gives quality viewing experience, and when they are out of multiplex, they can roam about and search for branded products and can satisfy their hunger in branded food outlets. The generation next consumer’s behavior for consumption is truly different and is therefore important to study. Present study shows that, in today’s world, fun, food, films and fashion make a relevant and powerful combination to attract next gen consumers who want everything under a single roof. The present research paper is an attempt to understand generation next preferences and can be helpful to practicing managers in the area of “generational marketing” in general and in the area of “retail marketing” in particular.