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Buying Behavior RETAIL AUDIT

Buying Behavior RETAIL AUDIT. Ines Hackbarth, Michael Stach, Galina Vasilyeva Jan. 6 th , 2014. 4. Hypothesis H14 . Demographics affect planned expenditure level. Income: High income - higher planned expenditures Gender: Females – higher planned expenditure

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Buying Behavior RETAIL AUDIT

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  1. BuyingBehaviorRETAIL AUDIT Ines Hackbarth, Michael Stach, Galina Vasilyeva Jan. 6th, 2014

  2. 4 HypothesisH14 Demographics affect planned expenditure level. • Income: High income - higher planned expenditures • Gender: Females – higher planned expenditure • Education: High educated mall visitors – lower expenditures Picture source: http://static6.depositphotos.com Hypothesis I – Retail Audit – Customer Profiles – Hypothesis II

  3. 5 Gender, income and planned expenditures Hypothesis I – Retail Audit – Customer Profiles – Hypothesis II

  4. 6 • Store type: Textile, food, furniture etc. • Time/Day: Friday, November 29th, 2 pm • Size: 100 m² • Target group:Middleaged, middleincome • Salespeople: A couple per store • Special promotion: Christmas, discounts • Pathway: Cluttered • Keepingcustomer in store: Confusingstructure • Consultants‘ opinion: Layout Interior design Store front Picture source: /www.strauss-innovation.de Hypothesis I – Retail Audit – Customer Profiles – Hypothesis II

  5. 7 • Store type: Furniture • Time/Day: Wednesday, November 27th, 5 pm • Size: 40.000 m² • Target group: Age 50+, both gender, high income • Salespeople: Oversaturated, activeapproach • Special promotion: Christmas, car raffle, sales • Pathway: Wide; furnituresettings • Keepingcustomer in store: Restaurants, playarea • Consultants‘ opinion: Sensoryexperience Store interior Picture source: /www.moebel-kraft.de/standorte/berlin Hypothesis I – Retail Audit – Customer Profiles – Hypothesis II

  6. 8 • Store type: Furniture • Time/Day: Wednesday, Nov. 27th, 6 pm • Size30.000 m² • Target group: Young families, students, price sensitive customers, bothgenders • Salespeople: Don‘tapproachactively • Special promotion: Loyaltyprogram „IKEA family“ • Pathway: Fixed pathwaythroughoutthestore • Keepingcustomer in store: Food area, swedishsupermarket • Consultants‘ opinion: Sensoryexperience Layout Store interior Picture source:: www.tech-lounge.de Hypothesis I – Retail Audit – Customer Profiles – Hypothesis II

  7. 9 • Store type: Book • Time/Day: Thursday, Nov. 27th, 2 pm • Size: 250 m² • Target group:All ages, morefemalethan male, low-middleincome • Salespeople: Don‘tapproachactively • Special promotion: Christmas, Ebook Reader, Bestseller • Pathway: Nofixedpathway • Keepingcustomer in store: Tableswith different merchandise, giftideas • Consultants‘ opinion: Layout SensoryexperienceStore‘sinterior Picture source:: /www.douglas-holding.de Hypothesis I – Retail Audit – Customer Profiles – Hypothesis II

  8. 10 • Store type: Electronic store • Time/Day: Thursday, Nov. 28th, 4 pm • Size:2.000m² • Target group: Tech-savvyconsumers; mostly male • Salespeople: Approach customer; attentiveandpatient • Special promotion: PS4 promotion, specialproductstands, 0 % interestforpaymentbyinstallments • Pathway: Entertainment products at the end ofthestore • Keepingcustomer in store: „Rummagetables“ with DVDs, CDs • Consultants‘ opinion: Sensoryexperience Store‘sinterior Layout Picture source: www.kreisbote.de Hypothesis I – Retail Audit – Customer Profiles – Hypothesis II

  9. 11 Customer Profile Who? Age Relationship State Income Mission A youngcouple 28 years Allied Low-middleincome „As wearegettinga baby soon, wemovedtoa new appartmentandneedto buynewfurniturelike a TV shelf.“ Hypothesis I – Retail Audit – Customer Profiles – Hypothesis II

  10. 12 Key Attributes End Means Attribute FunctionalConsequence Terminal Value Hypothesis I – Retail Audit – Customer Profiles – Hypothesis II

  11. 13 Customer Profile Who? Age Relationship State Income Mission Business man 55 years Recentlydivorced High income „As I just divorced, I have tomovetomynew appartmentASAP and thusneed a newsofafor mylivingroom.“ Hypothesis I – Retail Audit – Customer Profiles – Hypothesis II

  12. 14 Key Attributes End Means Attribute FunctionalConsequence Terminal Value Hypothesis I – Retail Audit – Customer Profiles – Hypothesis II

  13. 15 Hypothesis based on Database • Competersaremorelikelyusinglessappropriatedtactics in negotiationswhereasavoidersareunlikelytousethose. • The morefrequently positive negotiationbehaviorsareshown, thebetterthenegotiationoutcome. • Age affectsnegotiation style. Hypothesis I – Retail Audit – Customer Profiles – Hypothesis II

  14. Thankyouforyourattention

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