Issue Details

CONSUMER PREFERENCES AND OPINIONS IN INDIA’S CHANGING RETAIL SECTOR: A COMPARATIVE STUDY

ABSTRACT

Department stores, hypermarkets, supermarkets and specialty stores are some of the newer structured formats that are posing a threat to the traditional unorganised sector of India’s retail business. Because of this, the retail sector in India has seen significant changes. The study’s goal is to look at how Big Bazaar, Reliance Fresh, and Marks & Spencer stack up in the eyes of their respective customers. The poll also compares the performance of these stores to others in the area and gauges the satisfaction of its customers. With this goal in mind, a sizable study of Indian consumers from a range of economic strata was conducted. The study examined factors such as pricing, product availability, quality, convenience, and customer happiness. Statistical analysis was employed to learn what aspects of stores people liked and didn’t like, as well as what factors influenced their buying decisions. Important new insights into the dynamics of the Indian retail market have been revealed by the findings. With a growing middle class, diversifying customer tastes, and favourable demographic trends, experts anticipate that India’s modern retail industry could be worth between $275 and $400 billion by 2020. Taking the time to listen to and act on customer feedback can help retailers better adapt to their customers’ changing wants and needs. Retail chains, independent stores, and other players in the Indian retail industry can all benefit from the insights provided by this study. The comparison of Big Bazaar, Reliance Fresh, and Marks & Spencer reveals their advantages and limitations, as well as how well they perform in terms of customer satisfaction. The findings of this study help retail businesses in India better understand consumer behaviour and make evidence-based decisions.

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