Consumer Buying Behaviour at Lulu Mall Cochin
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Journal of Xi'an University of Architecture & Technology Issn No : 1006-7930 Consumer Buying Behaviour at Lulu Mall Cochin Dr. B. Ganesh1, Dr. Subramania Bala Jeshurun2 1Assistant Professor, Kerala Institute of Co-operative Management, Thiruvananthapuram, Kerala, India. 2Assistant Professor, Department of Management Studies, Francis Xavier Engineering College (Autonomous), Tirunelveli, Tamilnadu, India. Abstract The retailing sector of Kerala is gradually marching its way towards becoming the next boom industry. The whole concept of shopping has altered in terms of format and consumer buying behaviour, ushering a revolution of shopping. The growth of integrated shopping malls, retail chains and multi-brand outlets is evidence of consumer behaviour being favourable to the growing organized segment of the business. Modern retail has entered Kerala as seen in sprawling shopping centres, multi stored malls and huge complexes offer shopping, entertainment and food courts. Due to these factors, the meaning of shopping has changed. It is not just a mere necessity, as it was earlier, but much more than that. The factors that affect store choice and draw customers to the shopping centre include space, ambience, and convenience and moreover an array of choice under same roof. Space, ambience and convenience are beginning to play an important role in drawing customers. This paper would concentrate on the consumer response towards the large retail outlet, behaviour the consumer exhibits while visiting or making purchases in the Lulu Mall. It would explore the purpose and motive behind the Kerala consumers ‘visit to this well-established shopping mall, the values they derive from the shopping trip and their shopping behaviour in terms of impulse purchases, time and money spent at the Lulu Mall. Keywords: Consumer, Buying Behaviour, Retail Sector, Consumer Perception. Volume XII, Issue III, 2020 Page No: 198 Journal of Xi'an University of Architecture & Technology Issn No : 1006-7930 Introduction Customers are inevitable part of any business and hence the customers must be treated as the King of the market. All the business enhancements, profit, status, image etc. Of the organization depends on customers. Hence it is important for all the organizations to meet all the customer’s expectations and identify that they satisfy customers. Customer satisfaction is defined as “the number of customers or percentage of the total customers, whose reported experience with a firm, its products, or its service (ratings) exceeds specified satisfaction goals”. Intentions and loyalty Customer satisfaction data are among the most frequently collected indicators of market perceptions. Within organizations, the collection, analysis and dissemination of these data send a message about the importance of tending to customers and ensuring that they have a positive experience with the company's goods and service The ultimate aim of every business is to increase sales by finding out the factors that drive consumer’s buying decisions. Consumer perception theory tries to analyse and explain consumer behaviour. The perception of the same product or service by different consumers would vary. This is exactly what consumer perception theory analyses by finding out what exactly motivates or influences a consumer behaviour in purchasing or not purchasing a specific product. Customer buying pattern is a marketing concept that tells us what customers think about a brand or a company or its offerings. It can be positive or negative feelings, perceptions, inhibitions, predispositions, expectations or experiences that a customer has. If you understand the concept of customer perception, you will figure out that it is arguably the most important factor that decides the success of a brand, product or a company as a whole. How a particular brand or company is positioned also plays a vital role in this. The characteristics of a brand and its personality plays a big role in acquiring and retaining a customer. LULU GROUP INTERNATIONAL (Lulu Group) is a highly diversified conglomerate with successful business entities in strategic locations worldwide. Founded by the acclaimed business visionary Shri. Yusuff Ali M.A, Lulu Group has become a key contributor in the Gulf region’s economic standing with an annual turnover worth USD 7.4 billion. Headquartered in Abu Dhabi, the capital of the United Arab Emirates, it is a world-renowned purveyor of an international business portfolio that ranges from hypermarket operations to shopping mall development, manufacturing and trading of goods, hospitality assets, and real Volume XII, Issue III, 2020 Page No: 199 Journal of Xi'an University of Architecture & Technology Issn No : 1006-7930 estate. Lulu Group mainly operates in 22 countries located across the Middle East, Asia, US, and Europe. From its humble beginnings, the Lulu Group has grown from a stature to an enterprise with deep roots in the Gulf. It is seen as a benchmark in the retail industry, which has branches now out across the continents. The trust and confidence reposed by its customers and business associates as well as a sense of belonging remain its greatest assets. These are amply reflected in the many accolades that it has earned throughout its journey. Chairman and Managing Director Mr.Yusuff Ali M.A. has been recognised with a Padma Shree Award as well as a PravasiBharatiyaSammanaward, the highest honour given to a Non-Resident Indian by the Government of India. The Group, energised by a dynamic leadership and committed workforce, is surely on the fast track to growth. Lulu Mall, a division of the much-famed Lulu Group headquartered in Abu Dhabi, is one of the largest as well as the first of its kind in India. The Group with its flagship retail chain of LULU hypermarkets and supermarkets has operations spread over 34 countries. Currently, in its 7th year of operations, Lulu Mall is the go-to destination in Kerala. In the past 6 years, Lulu Mall has been visited by 10 million people and has witnessed the entry of 1.5 million vehicles. Spanning 17 acres with a total retail space of 6.2 lakh square feet, Lulu Mall Kochi has over 225 outlets and has brought over 100 top brands to Kerala for the very first time. The mall has one of the largest hypermarkets in India, a 2,500-seater multi-cuisine food court, 11 fine dining restaurants and 6 cafes. The mall features a gold class 9-screen multiplex, and a leisure zone including South India’s largest ice-skating rink, a trampoline park, amusement rides, and a 12-lane bowling alley. The parking space of the mall is equipped with state-of-the-art automated parking guidance system and accommodates 3800 vehicles. A direct walkway connects the mall with the Edapally metro station.Located within the campus is Marriot Hotel, offering a remarkable blend of luxury and convenience to the innumerable international and domestic tourists who visit the mall.With upcoming projects in Triprayar, Trivandrum, Lucknow, Visakhapatnam and Hyderabad, to name a few, Lulu Group is racing ahead to be the top player in the Indian shopping mall segment. Literature Review Khare, A. (2010) recommended that in developing countries consumers are inclining aware of fashion brands. He was expressed towards understanding the different parameters of Volume XII, Issue III, 2020 Page No: 200 Journal of Xi'an University of Architecture & Technology Issn No : 1006-7930 apparel of Indian Consumers. He researched on customers in colleges to understand the importance of fashion apparels in their lives. The result of the Indian youth consumers involved with brand fashion wear. There was not much variance in the involvement of females and males towards fashion apparel. Verma, A.P. and Tiwari, K (2010) studies the medium to high potential customers that international and national brands can target in the Indian scenario. This study bangs the compartment values of few brands those have achieve success in the Indian market. Study identified the people are inclining mere brand conscious with the raise in income level. Mittal, P. and Aggarwal, S. (2012)in this study it can be said that the consumer and his behaviour is the crucial factor of success in the marketing. It consists all the physical, mental and emotional processes and concerned behaviour which are detectable. Study insistences on understanding those emotional or rational pleas, which drive the purchase decision toward the branded garments. Also, certain demographic and psychographic profiles have been studied and certain relation has been developed. Significance of the Study - CRM Customer Relation Management (CRM) is an approach to manage a company's interaction with current and potential customers. It uses data analysis about customers' history with a company to improve business relationships with customers, specifically focusing on customer retention and ultimately driving sales growth.One important aspect of the CRM approach is the systems of CRM that compile data from a range of different communication channels, including a company's website, telephone, email, live chat, marketing materials and more recently, social media. Through the CRM approach and the systems used to facilitate it, businesses learn more about their target audiences and how to best cater to their needs The concept of customer-relationship management started in the early 1970s, when customer satisfaction was evaluated using annual surveys or by front-line asking. At that time, businesses had to rely on standalone mainframe systems to automate