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Impact of Covid19 on Consumer Buying Behaviour in Retail Sector

   

Added on  2023-06-13

30 Pages7657 Words112 Views
Data Science and Big DataStatistics and ProbabilityEnvironmental Science
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Business research project
Impact of Covid19 on Consumer Buying Behaviour in Retail Sector_1

CONTENTS
CHAPTER – 1: INTRODUCTION & TERMS OF REFERENCE...........................................1
1.1 Research rationale.......................................................................................................1
1.2 Research problem........................................................................................................1
1.3 Research questions......................................................................................................2
1.4 Research aim...............................................................................................................2
1.5 Research objectives.....................................................................................................2
CHAPTER– 2: LITERATURE REVIEW.................................................................................3
2.1 Introduction of the chapter..........................................................................................3
2.2 Concept of consume buying behaviour.......................................................................3
2.3 Factors impacting consumer buying behaviour...........................................................4
2.4 Impact of covid19 global pandemic on customer buying behaviour within retail
sector 5
2.5 Challenges faced by retail sector due to covid19 pandemic........................................6
CHAPTER– 3: RESEARCH METHODOLOGY.....................................................................8
3.1 Research methodology................................................................................................8
3.2 Sampling......................................................................................................................8
3.3 Data collection methods..............................................................................................8
3.4 Data analysis methods.................................................................................................9
3.5 Ethical considerations..................................................................................................9
3.6 Research limitations....................................................................................................9
CHAPTER – 4: FINDINGS, DISCUSSION & ANALYSIS..................................................11
4.1 Statistical analysis.....................................................................................................11
CHAPTER – 5: CONCLUSION & RECOMMENDATIONS................................................23
REFERENCES.........................................................................................................................24
APPENDIX..............................................................................................................................27
Questionnaire........................................................................................................................27
Impact of Covid19 on Consumer Buying Behaviour in Retail Sector_2

CHAPTER – 1: INTRODUCTION & TERMS OF REFERENCE
1.1 Research rationale
The retail industry plays a very important role in identifying as well as evolving gross
domestic product of varied nations. As an industry, retail is being regarded as one of the most
significant source of employment. It helps in connecting the clients with their requirements
and desires. From the year 1930s, marketers are making an attempt to comprehend the
consumer buying behaviour for predicting the activities of the customers as well as their
future purchase. Nevertheless, during the past few years, there has been great development
being witnessed in the retail industry (Afifah and et.al, 2021). There were many channels
being created which has made the customers perform in a different way. In the current era,
novel options for purchasing as well as shopping instead of brick and mortar stores have been
evolved and present for the clients. This shift was mainly due to change in the rapid
technological development and transition in the online retailing sector due to covid19
pandemic.
Because of this pandemic there has been noteworthy influence on the retailing sector
as a novel pattern of behaviour was born under the impact of the epidemic. Due to the
requirement, the unexpected movement of clients in relation with online channels was
apparent. There has been generation of new preventive strategies as well as laws concerned
with the manifested augmentation in the social awareness linked with stress along with fear.
Additionally, the pandemic was the main reason behind the changing behaviour of the
customers in regards with new manners of buying which was infrequently existed earlier
(Verhoef, Kannanb and Inman, 2015). Nonetheless, the current shopping experience of the
customers will going to influence the future behaviour of the customers in regards with the
particular alteration as well as adaptation. The novel manner of behaving as well as action
which the customers have accepted throughout the crisis period impacts the old-style buying
behaviour which is left to the subsequent generation.
1.2 Research problem
Because of the pandemic of Covid-19 there has been abundant impacts on online as
well as offline channels. On the first hand, it has augmented the demand of the online
channels which correspond with the changeover of retailing and this can optimistically
influence the retail sector. However, on the other hand this pandemic has resulted in decrease
in the demand of physical channels which can impact the retailers negatively (Nguyen,
1
Impact of Covid19 on Consumer Buying Behaviour in Retail Sector_3

Armoogum and Nguyen Thi, 2021). But, the choice amid the varied channels for purchasing
products and services is driven by behaviour of the customers. Since there has been
restrictions due to covid19, it is highly assumed that the purchase behaviour of the customers
has been altered. More particularly, here comes the main emphasis of the present research
paper which is targeting to analyse the impact of covid19 pandemic on the consumer buying
behaviour in retail sector.
1.3 Research questions
For the purpose of competing the research work effectively there will be requirement
of certain research questions and these are as follows:
What is the concept of customer buying behaviour?
Which factors impacts consumer buying behaviour?
What is the impact of covid19 global pandemic on customer buying behaviour within
retail sector?
What challenges are being faced by retail sector at the time of global pandemic?
1.4 Research aim
The main aim of the current research work is “to determine the impact of covid19
global pandemic on the customer buying behaviour in retail sector”.
1.5 Research objectives
In order to fulfil the above mentioned research aim effectively, the researcher is
required to have some small objectives and these are being defined underneath:
To determine the concept of customer buying behaviour.
To analyse the factors impacting consumer buying behaviour
To identify the impact of covid19 global pandemic on customer buying behaviour
within retail sector
To examine the challenges being faced by retail sector at the time of global pandemic.
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Impact of Covid19 on Consumer Buying Behaviour in Retail Sector_4

CHAPTER– 2: LITERATURE REVIEW
2.1 Introduction of the chapter
Talking in connection with this segment, it assumes a vital part in the general
examination project because of the way that it gives total engraving of the past work being
led by various specialists in respects with the current branch of knowledge. What's more, the
writing review part of the undertaking isn't just confined towards assessing the previous work
performed by the agent rather it involves performing examination, affiliation and refreshing
current realities of the work which should be considered in the current exploration work by
the analyst. Moreover, it likewise incorporates data from differed diaries, magazines, articles
and online distributed investigations connected with the current subject under study. Relating
to this, it stands firm on critical foothold in the exploration work.
2.2 Concept of consume buying behaviour
As stated by Priest (2016), the purchasing conduct of the client significantly
accentuate on the buying exercises of the clients before and in the current that covers the
entire methodology right from picking the item and buying something similar. According to
Blachman (2018), the buying system fluctuates from one client to another and can be just
purchasing or shopping. Together these terms are different as purchasing happens when the
consumer have earlier information on the necessary product, aim it and buy that product
straightforwardly. Be that as it may, shopping is characterized to the longing as well as
delight being passed through simple noticing an item which the consumer doesn't need.
Regardless, every single client changes in their mentalities, standards, faith as well as
characters. Online and physical stores provides different involvement to the people and
hence, the upcoming conduct of the consumer modifies and change according to their present
insight of shopping.
As per Nguyen, Armoogum, and Nguyen Thi (2021), purchasing conduct of the
customer is the moves that is made by them prior purchasing any of the items and
administrations from any kind of outlet. It is the interaction which incorporates counselling
web crawlers, drawing in with the media and utilizing of web-based media sites and so forth.
It is generally significant for the business as it supports them in designing their showcasing
techniques effectively and drives to the promoting endeavours that is having effectively
impacted the clients to purchase their past products and services. On the off chance that
customers are supporting in making their business beneficial, this may bringing about
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Impact of Covid19 on Consumer Buying Behaviour in Retail Sector_5

enchaining customer and making their advantage more agreeable. Additional, this subsequent
in making valid and solid data about a shopper purchasing conduct (Sardjono and et.al,
2021). For upgrading of the brand picture of the company before clients, then it might be
done through making video crusades, print promotions and online media crusades which
benefits in gaining more amount of organizational benefits as well as incomes.
2.3 Factors impacting consumer buying behaviour
As stated by Wadera & Sharma (2018), there are different factors through which the
customers purchase behaviour can be influenced and they are being categorised into two
groups that is internal as well as external factors. Talking in relation with the internal
influences, according to Hoyer & Krohmer (2020), they majorly depends upon person to
person. Furthermore, these influences are being caused due to varied kinds of dimensions
such as personal factors, cultural factors and loyalty. All these factors critically influence the
procedure of buying of the customers over the period of time in three phases such as pre,
during as well as post buying process. Further, Nayeem (2019) has also demarcated that
factors related to culture influence the actions along with the behaviour of the people and
similarly also impacts their character and decisions. It can be noticed that two people from a
particular or same culture are more likely to share common thoughts, values as well as
opinions. In addition to this, there are numerous researches being undertaken on personal
factors and have stated that age, personalities along with the economic situation of the people
also influences their decisions regarding buying of a particular thing. In the same manner,
customer loyalty is also being regarded as an important conclusive element which highly
affects the behaviour concerning the repetitive purchase events.
Moving further, there are different external influences that are relied on the aspects
which cannot be controlled by the customers. All these influences are being developed from
the factors which are external in nature. First and foremost is motivational influences. As per
Ling & Yazdanifard (2015), showcasing techniques, value limits, deals offers and
advancement impact the clients mentally. Also, area of the physical stores is one more outer
variable that assumes a vital part in convincing the conduct of the clients in regards with
buying products and services for satisfying their requirements as well as needs. In addition to
this, perhaps the main outside factors that impact the purchasing conduct of the client is
emergency. Centering in connection with emergency, it has its set of experiences of crucially
affecting the networks and people because of shortage of food, cover, principal prerequisite
of life plus water. As a result of these effects the way wherein individuals carry on with their
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Impact of Covid19 on Consumer Buying Behaviour in Retail Sector_6

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