International Research Journal of Management Sociology & Humanities

ISSN 2277 – 9809 (online) ISSN 2348 - 9359 (Print)

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Shri Param Hans Education & Research Foundation Trust

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IRJMSH Vol 7 Issue 12 [Year 2016] ISSN 2277 – 9809 (0nline) 2348–9359 (Print)

A study of Sales promotion offers adopted by organized retail outlet in NCR

Associate prof. Tilak sethi Haryana school of Business Guru Jambheshwar University of Science and Technology, Hisar

Neelam Rani Research Scholar, Haryana school of Business Guru Jambheshwar University of Science and Technology, Hisar Email: [email protected]

ABSTRACT Introduction: Retailing is growing at a rapid pace in and has been reported as one of the top five fastest growing retail destinations globally. It accounts 14-15% (Corporate Catalyst) 0f India’s GDP and second largest source of employment after agriculture. Traditionally, retailing was dominated by unorganized retail but now scenario is changed organized retailing developing in rapid pace. NCR region is hub of organized retail and consumers in NCR region are more aware. So, attract to consumer retailers made different type of strategies. Purpose: Objective was to examine the sales promotional strategies on consumer purchasing intention and also its influence on purchasing decision for the same. Research methodology: 500 respondents from NCR were interviewed. Statistical tools like factor analysis, t-test and one way ANOVA were used. Findings: From the result it is apparent that demographic variables like age, gender, income education, occupation are not found to be significantly differentiating the various groups of respondents while analyzing sales promotion techniques on consumer behavior. Implications: Majority of respondents have strongly influence price promotion offers like discount, price off. So retailers should use price promotion offers in comparison to others offers like loyalty program, free gifts etc. Key Words: Organized retail, GDP, Promotion. INTRODUCTION Retailing is growing at a rapid pace in India and has been reported as one of the top five fastest growing retail destinations globally. India remains appealing for long term retail destination for several reasons-a population of 1.2 billion people 31% of them aged between 20 and 44 years (times of India .com) and 1/3 third of whom live in cities. It accounts 14-15% (Corporate Catalyst) 0f India’s GDP and second largest source of employment after agriculture. It accounts 8-9% (corporate catalyst) of employment. India is having a very favorable retail environment and

International Research Journal of Management Sociology & Humanity ( IRJMSH ) Page 250 www.irjmsh.com IRJMSH Vol 7 Issue 12 [Year 2016] ISSN 2277 – 9809 (0nline) 2348–9359 (Print) it is placed at 2nd spot in the GRDI after China (A.T Kearney Report 2016). The main reasons behind that is the 10% real GDP (www.ibef.org 2016). The revenue generated from organized retail was INR 0.9trillion (USD 15.5 billon) in 2009, INR2.4 trillion (41.4 billion) in 2012 and it expected to continue growing at a projected INR5.5 trillion (USD 94.8 billion) by 2019(kpmg.com.in). Marketing mix have four tools i.e. product, place, price and promotion. Among all these factors promotion is a major tool to attract consumers. “Promotion” is defined the whole array of methods and procedures by which the organization communicate with its target market. Promotion include various tools like advertising, sales promotion, distribution and publicity. Retailers used these tools to attract consumers but among all of these sales promotion activities such as free gifts, money off, loyalty program, coupons etc. is very effective. The various strategies adopted by the companies to attract consumers.

Meaning of retailing “Retailing refers to an activity that involved in selling of goods or services to the final customer for personal, non personal use”.(Kotler& Keller) . Retailing consists of the sale of goods or merchandise, from a fixed location such as a department store, in small or individual lots for direct consumption of the purchaser.

The Story of Organized Retail Retailing as a concept is not new in India. In fact, it dates back the traditional formats of retailing that prevailed in the form of Haats, Weekly Bazaars and the famous kirana stores or ‘BaniyekiDukan. The organized retail industry in India had not evolved till the early 1990s. Until then, industry was dominated by unorganized sector. Over the past few years the concept of organized retailing has gained momentum &organized retail in India’s a new reality. The origin of organized retail in India when the many big houses mostly textile building start their own exclusive stores or franchise outlet like Mohanlal sons in ’s, charagh, Raymond’s, Bombay dyeing etc. The first organized retail outlet established Nilgarisand outlet like Bombay dyeing, Titan, Margin free etc. Multi-brand retail chains came into the picture mainly during the1990s. Shopping centers began to come up around 1995. Shopping malls and hyper markets have begun to evolve primarily during the new millennium. Due to changing lifestyle, increasing consumer expectation and narrowing margins, kiranawala as might not be able to match the supply chain efficiencies, expectations in terms of product width and depth (product line mix) of product assortment, shopping experiences, service levels, which will eventually give way to organized retailing in a big way. Now, several large Indian business houses have made a foray into retailing, with multiple formats and in varied product categories. Many big names like Big Bazar, Easy day, Vishal having forceful presence in north India. Due to Govt. regulations the growth of organized retailing is delay in India. But now Govt. allowed 100% FDI and 51% in multi brand.(www.ibef.com) Now many Multinational retailers come into the Indian market such as Wal-Mart, Tesco, etc.

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From mandis to malls, Indian organized retailing has come a long way Kishore Biyani of Pantaloons India Limited founder of organized retail in India. With the dawn of 21st century, India has seen entry of the malls culture especially in metro and big cities. By the end of last decade, malls have started making a foothold in tier2 and tier3 cities too and it also changed the way for shopping in the country. Though organized retail has entered and expanded in all cities of India, yet the share of organized store 8% only (www ibef.com). But organized retail is growing much faster as compared to unorganized sector and it estimated to grow at a CAGR of 24% per annum by 2016-2017 (www.ibef.com).Now many big houses like Reliance, Birla, Bharti and others entered into retail sector. Even though the Indian market holds a lot of promise, the penetration of organized retail only 8%.Migration from traditional formats to modern retail continues. Today, the organized retail sector has 350new malls, 3000 supermarkets and departmental stores. Organized retailing in India is expected to double to Rs 171,800 cr. from Rs 87100 cr.(www.ibef.com).The traditional food and grocery segment has seen the emergence of supermarkets/grocery chains, convenience stores and hypermarkets. Food world was started by RPG in 1996.

The total retail sector in India can be divided into organized and unorganised sectors: Unorganized/Traditional retailing refers to the traditional formats of low-cost retailing, for example, the local kirana shops, owner manned general stores paan/beedi shops relative low compensation offered by the traditional agriculture and manufacturing sectors. The trading activities undertaken by licensed retailers are categorized as organized retailing. Licensed retailers are those who are registered for sales tax, income tax, etc. These include the corporate- backed hypermarkets and retail chains, and also the privately owned large retail businesses. The organized retail market is growing at 5-6 % per cent annually. (Sikri & Wadhawa) Several Indian &multinational companies being planned to investment in retail above US$ 25 billion in the next 5 years. Organized retail is huge industry expected to garner about 16-18 per cent of the total retail market (US $ 65-75 billion) in the next 5 years. According to the report of IBEF of AT Kearney (2014), According to report, organized retail accounts for 7% of India’s roughly $435 billion retail, market and is expected to reach 20% by 2020. Food accounts for 69-70% (IBEF Report 2016) of Indian retail, but share of organised retail is only2-3%. Organized retail has a17- 20% (IBEF report 2016) share in clothing and apparel and continues to see growth in this sector with approx. gross margin 35-40%. A report by Boston Consulting Group has revealed that the country’s organized retail is estimated at US $ 28 billion with around 7% penetration. It is projected to become a US $ 260 billion over the next decade with around 21% penetration The analysts believe that the sector is likely to show significant growth of over 9% over the next ten years and also see rapid development in organized retail format with proportion likely to reach more respectable 25% by 2018. The numbers of modern trade stores are expected to increase from 11192 in 2006 to 67100 by 2016 (kpmg.com.in) The enormous growth of retail industry has created a huge demand for real estate. Property developers are creating retail real estate at an aggressive pace. Retail formats India:

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1. Hyper Markets: Large self- servicing outlets offering products from a variety of categories on low prices. Mostly food & grocery and apparels products are offered. The average size of hypermarkets varying between 60,000 sq. ft. and 1, 20,000 sq. ft. for example Reliance Hyper, Big Bazaar, Star India Bazaar etc. 2. Departmental Stores: They are general retail merchandises offering quality products and services. They also have the wide ranges of products food, clothing, appliances and other household goods, home furnishings, gifts and curios.. In India these stores are still at the introduction stage and they are mainly located in metros like Mumbai, Delhi, and other cities like and Hyderabad. The department stores usually have 20,000 - 1000,000 sq. ft. of retail space. Some departmental stores are pantaloons, Westside, Shoppers’s stop, Ebony, life style etc. 3. Convenience Stores: They are located in residential areas with slightly higher prices & limited goods due to the convenience offered and have long hours of operations, seven days a week, The average size of a convenience store is around 300-3000 sq. ft. & provide daily uses items. 4. Shopping Malls: Malls are upcoming trend in India. These malls have changed the shopping environment in India. These are air-conditioned and biggest form of retail in India, malls offered customer a mix of all types of products and services. The average size of a convenience store is around 200000-300000 sq. ft. People visit in malls not only for shopping but also for fun and entertainment. Examples are Mumbai’s Inorbit, Delhi’s , Amritsar’s Alpha One Mall and ’s Paras Downtown square. 5. E-retailers: in the last few years on line retail has reaching to masses from nowhere. It has grown in a pace that today it is threatening to the traditional shops. Recognizing the threat, many traditional retailers have started to established their on line presence. The major part of this industry is driven by books, electronics and apparel. 6. Discount stores: They are factory outlets offering a wide range of product, mostly branded on discounted prices. These are stores which sell at a lower price than the maximum retail price printed on the product. The average size of such stores is 1,000 sq. ft. for example Subhiksha, and the factory outlets of apparel and footwear brands, namely, Levi’s factory outlet, Nike’s factory outlet, Big bazar maga mart, Koutons, etc. 7. Specialty stores: They are retail chains dealing in specific categories and provide deep assortment. They are working on concept of niche market. The average size of a convenience store is around 500-1000 sq. ft. Example crossword, Tanshiq, music world, health & glow furniture store, footwear, electronic store, gift store etc. LITERATURE REVIEW Organized retail is dominated by unorganized and share of organized retail in total retail is only 8% in 2015 but it is expected to reach 24% till 2019. (www.ibef org 2016). Organized retailer used many promotional activities to attract consumers. Oats and et al( .1990 )conducted a study on “550 elderly consumer who are “65-plus .”They observed that there is a relation between elderly people life style .i.e( .Self-reliant, quiet

International Research Journal of Management Sociology & Humanity ( IRJMSH ) Page 253 www.irjmsh.com IRJMSH Vol 7 Issue 12 [Year 2016] ISSN 2277 – 9809 (0nline) 2348–9359 (Print) introverts, family oriented, active retiree and young and secured )and store attributes (Store/personnel quality, store characteristics, discount policies, services attributes .)The study revolved that store/personnel quality is most significant factor rather than other factor .Finally services attributes are not too much significant. Carpenter and Moore (2006 )observed in their research paper that the retail format choice depend on consumer demographic and store attributes .The study is based on 562 respondents and five attributes which are associated with retail format choice like cleanliness, product selection, courtesy of personal, crowding and price competitiveness .Among the five variables cleanliness is most important and second one is product selection .Price competitiveness is not too much significant . Jin and et al( .2012 )made a comparative study of Indian and Chinese consumers when purchasing denim jeans .The study was based on five attributes of conjoint analysis i.e .brand country, design, price, quality and fitting and 250 respondents of each country .By applying ANOVA they find out that Chinese consumer’s is more price conscious in compare to Indian consumers .Further they pointed out that Chinese consumers gave the importance to fitting (23.47)%, brand (16.98)%, quality (16.9)%, design (25.47 )%and Indian consumers gave the importance to fitting (23.35)%, brands, design, price and quality. OBJECTIVIES

 To identify the different sales promotion offers adopted by retailers.  To investigate the effectiveness of sales promotion offers on consumer purchase decision.  To identify the relation between consumer socio- demographic & physiological profile and sales promotion offers. RESEARCH METHODOLOGY Sampling and Data Collection NCR is divided into Delhi, Gurgaon, Noida, Faridabad, and Ghaziabad. The present study is based on impact of sales promotion on consumer purchasing behavior. A total of 568 questionnaires were distributed in Delhi, Gurgaon, Faridabad, Noida. 500 questionnaires were found for the data analysis, which leads sample size of 500. To make current study holistic, in nature, data were collected from consumers of all demographic profiles. Questionnaire formulation A pool of 48 simple understandable statements relating to examine impact of promotional offers on consumer’s purchasing behavior was constructed, out of which 19 statements were taken for current study.

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TABLE: 1 Demographic Profile of the Respondents Demographic Profile of Figures Descriptive Frequency Proportion Age 15-25 163 32.6 26-35 202 40.4 36-45 86 17.2 46&Above 49 9.8 Total 500 100 Gender Male 241 48.2 Female 259 51.8 Total 500 100 Occupation Govt.job 66 13.2 Private 266 53.2 Bussiness 46 9.2 House Wife 58 11.6 others (student) 64 12.8 Total 500 100 Qualification UnderGraduate 38 7.6 Graduate 253 50.6 Post Graduate 190 38 Doctrate 19 3.8 Total 500 100 Income 20000-29999 77 15.4 30000-39999 188 37.6 40000-49999 123 24.6 50000 & Above 112 22.4 Total 500 100 City Delhi 94 18.8 Gurgaon 154 30.8 Noida 125 25 Faridabad 127 25.4 Total 500 100 Source: Survey Data Statistical Techniques A cronbach’s alpha was used to check reliability in present study. All the statements statements of questionnaire were subjected to alpha test of reliability; the cronbach’s alpha statistic for statements was showing that scale is reliable.

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TABLE 2: Sales promotion offers Item Factor no. Factor 3. Discount and Price off Loading 1 I go for shopping at the time of discount 0.634 2 cash discounts is a good option to influence my purchase 0.621 3 I like to buy branded goods at the time of discount 0.638 I compare the prices of different brands which are on discount to be sure 4 that I get the best product at best price. 0.523 I am ready to wait for a product to go on discount like flat 40%off, up to 5 60% discount etc. before purchasing. 0.592 If the product I usually buy is on discount, then I increase the quantity of 8 my purchase. 0.598

Factor 5. Seasonal sale & festivals offers 17 The policies of exchange and returns influence my purchasing. 0.423 19 When i saw the “Clearance Sale”. I am Excited to buy. 0.533 I think offers available at the time of festive seasons is more beneficial 20 than others offers 0.613 I think at the time of festive season offers like “Purana lao Naya le Jao” is 21 a good deal. 0.648 I purchase more at the time of seasonal sale to stock up the product for 22 next season. 0.660 Factor 6. Buy Something get something Free 10 I spend more time at the time of sale promotion. 0.374 11 I believe “buy 2 get 1 free” deals save me money. 0.686 I enjoy buying a brand that comes with a free gift regardless of the value 12 of free gift. 0.598 I go to buy my favorite brand, but if I see “buy 2 get 1 free” offer for any 13 brand, I buy it. 0.727 14 I enjoy buying a brand that offers “buy one get one free”. 0.671 Factor 9. Loyalty Schemes Gifts coupons, free sample attract me for purchasing the product which i 15 have not decided to buy. 0.712 16 Payback points on membership card effects my purchasing. 0.735 Every time when I go to a particular outlet for shopping firstly I ask for 23 the schemes available. 0.338

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Factor Analysis To bring down the statements to manageable level of dimension, factor analysis using principal components method of factor extraction with varimax rotation was used. The value of KMO measure of sampling adequacy comes out .848 and Bartlet’s test of spheircity was found to be significant. The basis for factor extraction was kept as the Eigen value of 1 and rotated factor loading of at least .30 which is desirable. Table 2 presents the structure of each dimension depicting consumer behavior towards sales promotion offers. The factor loadings of each variable shown in table 2. Rotation Method: Varimax with Kaiser Normalization The factors which were extracted were named as discount & price off, seasonal & festivals offers, buy something gets something free, loyalty schemes. DATA ANALYSIS AND RESLUTS The respondents of different demographic do not have equal importance to all factors. Data analysis was done in order to find out whether influence of on purchasing behavior of consumers varies or not with different age, gender, education, occupation, income and city.

Age and consumer behavior towards sales promotion offers TABLE 3: ANOVA test statistics on consumer behavior towards sales promotion offers on the basis of age of the respondents Buy Something Discount & Seasonal & Get something Loyalty price off festivals offers Free Scheme F 0.943 0.41 0.157 1.325 Sig. 0.419 0.936 0.925 0.265 The result revealed that irrespective of consumer of the age, Discount & price off, seasonal & festivals offers, buy something get something free, loyalty scheme, opinions of the consumers were not found significantly different among various age groups. So study revealed that impact of sales promotion offers to all age groups consumer were same. (Table 3) Table 4: Comparison of respondents’ behavior towards sales promotion offers on the basis of age Buy Something Discount & Seasonal & Get something Loyalty Age price off festivals offers Free Scheme 15-25 3.9375 3.6156 3.735 3.579 26-35 3.9713 3.6609 3.7495 3.4424 36-45 3.882 3.6377 3.6837 3.3955 46 & Above 3.8335 3.6118 3.7347 3.531 Source: Survey Data

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Gender and consumer behavior towards sales promotion strategies TABLE 5: ANOVA test statistics on consumer behavior towards sales promotion offers on the basis of Gender of the respondents Buy Something Discount & Seasonal & Get something Loyalty price off festivals offers Free Scheme T 1.837 2.001 1.101 1.54 Sig. 0.067 0.046 0.272 0.124 Source: Survey Data The study revealed that from perspective of gender of consumer, Discount & price off , buy something get something free, loyalty scheme, opinions of the consumers were not found significantly different among different occupation categories, whereas for the dimension Seasonal & festivals offers the difference is found to be significantly different.(Table 5) TABLE 6: Comparison of respondents’ behavior towards sales promotion offers on the basis of gender Buy Something Discount & Seasonal & Get something Loyalty Gender price off festivals offers Free Scheme Male 3.9821 3.7043 3.7701 3.5452 Female 3.8842 3.575 3.6965 3.4339 Source: Survey Data Education and consumer behavior towards sales promotion offers TABLE 7: ANOVA test statistics on consumer behavior towards sales promotion offers on the basis of education of the respondents Buy Something Discount & Seasonal & Get something Loyalty Qualification price off festivals offers Free Scheme F 2.349 0.688 1.863 1.431 Sig ..072 0.56 0.135 0.233 Source: survey Data The result revealed that irrespective of consumer of the age , discount & price off, seasonal & festivals offers, buy something get something free, loyalty scheme, opinions of the consumers were not found significantly different according to education level. So, study revealed that impact of sales promotion offers to all education level consumers were same. (Table 7)

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Table 8: Comparison of respondents’ purchasing behavior towards sales promotion offers on the basis of the education Buy Something Discount & Seasonal & Get something Loyalty Qualification price off festivals offers Free Scheme Under Graduate 4.0568 3.5616 3.8368 3.6839 Graduate 3.9509 3.6791 3.7897 3.5023 Post Graduate 3.9103 3.6089 3.6526 3.4159 Doctorate 3.6316 3.5174 3.5474 3.6142 Source: Survey Data Occupation and consumer behavior towards sales promotion offers TABLE 9: ANOVA test statistics on consumer behavior towards sales promotion offers on the basis of occupation of the respondents Seasonal & Buy Something festivals Discount & Non-Price Get something Loyalty offers price off Promotion Free Scheme F 1.59 1.387 0.897 1.65 Sig 0.176 0.237 0.465 0.16 Source: Survey Data The result revealed that irrespective of consumer occupation , discount & price off , seasonal & festivals offers, buy something get something free, loyalty scheme, opinions of the consumers were not found significantly different among occupation category. So study revealed that opinions about of sales promotion strategies of all occupation category respondents were same. (Table 9) Table 10: Comparison of respondents’ behavior towards sales promotion offers on the basis of the occupation Buy Something Price Non-Price Get something Loyalty Occupation Promotion Promotion Free Scheme Govt. Job 3.8376 3.5958 3.6394 3.4392 Private Job 3.9033 3.5915 3.7113 3.4664 Business 4.0224 3.6196 3.8304 3.5513 House Wife 3.9531 3.8069 3.8552 3.3564 Student 4.0597 3.7298 3.7313 3.6981 Source: Survey Data

Income and consumer behavior towards sales promotion offers

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TABLE 11: ANOVA test statistics on consumer behavior towards sales promotion offers on the basis of income of the respondents Buy Something Discount & Seasonal & Get something Loyalty price off festivals offers Free Scheme F 1.103 4.28 1.4 2.948 Sig 0.347 0.005 0.2442 0.032 Source: Survey Data The study revealed that from perspective of income of consumer discount & price off, seasonal & festivals offers , buy something get something free and loyalty scheme, opinions of the consumers were not found significantly different among different occupation categories, whereas for the dimension seasonal & festivals offers the difference is found to be significantly different.(Table 11) Table 12: Comparison of respondents’ behavior towards sales promotion offers on the basis of the income Buy Something Discount & Seasonal & Get something Loyalty Income price off festivals offers Free Scheme 20000- 29999 3.9862 3.5991 3.7584 3.6234 30000- 39999 3.925 3.7704 3.7766 3.5674 40000- 49999 3.9776 3.4784 3.7626 3.415 50000 & Above 3.8538 3.6147 3.6054 3.3396 Source: Survey Data

City and consumer behavior towards sales promotion strategies TABLE 13: ANOVA test statistics on consumer behavior towards sales promotion offers on the basis of city of the respondents Buy Something Discount & Seasonal & Get something Loyalty price off festivals offers Free Scheme F 1.892 0.869 0.564 2.506 Sig 0.13 0.457 0.639 0.058 Source: Survey Data The result revealed that irrespective of city of, discount & price off, seasonal & festivals offers, buy something get something free, loyalty scheme, opinions of the consumers were not found significantly different among different city consumer.

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So study revealed that opinions about of sales promotion offers of all cities consumer’s respondents were same. (Table 13) Table 14: Comparison of respondents’ behavior towards sales promotion offers on the basis of the city Buy Something City Discount & Seasonal & Get something Loyalty price off festivals offers Free Scheme Delhi 3.8663 3.5353 3.6468 3.3194 Gurgaon 4.0023 3.6514 3.7351 3.5671 Noida 3.9672 3.6427 3.7744 3.4323 Faridabad 3.8584 3.6904 3.7496 3.5698 Source: Survey Data FINDINGS AND SUGGESTION The results indicates that respondents opinions does not show significant variation among the various categories of demographic variables undertaken namely age, gender, education, occupation, income, city for sales promotion offers on purchasing behavior of consumers.So from the results shows that nearly all respondents mostly influence by discount & price off. CONCULSION Retailing is growing at a rapid pace in India and has been reported as one of the top five fastest growing retail destinations globally. Traditionally retailing is dominated by unorganized retail but now scenario is changed organized retailing developing in rapid pace. Organized retailer provided product to consumer under one roof. They adopted many strategies to attract consumer like loyalty program, attractive offers etc. The future of modern retail seems very bright and it is expected that organized retailer provided better goods at reasonably price.

REFERENCES Books: Kotler Philip, Marketing Management: Analysis, Planning, impleation and control” Prentice Hall, New Delhi 1994 Articles: Oats Barbara, Shufeldt, Lois and Vaught, Robby (1990 .)A Psychographic study of the elderly and retail store attributes .Journal of consumer marketing, 13(6), 14-27. Carpenter, M .Jason and Moore, Marguerite (2006 .)Consumer demographic, store attributes and retail format choice in the U.S .grocery market .International journal of retail and distribution, 34(6), 434-4 Jin, Byoungho Park, Yong Jin and Ryo, Sang Jay (2012 .)Comparison of Chinese and Indian consumers evaluative criteria when selecting denim jeans :A conjoint analysis .Journal of fashion marketing and Management, 14(1), 180-194.

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Sunita Sikri and Dipti Wadhwa (2012“ .)Growth and Challenges of Retail industry in India :An analysis ”Asia Pacific Journal of Marketing and Management Review, 1(1 )ISSN 2319- 2836. Web sites: Corporate Catalyst report 2014 A.T Kearney Report 2016 www.ibef.org.2016 kpmg.com.in

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