Retail Business Decision Making: Survey, Analysis, and Future Trends

This report explores the impact of multichannel platforms on traditional shopping malls and high street shops, focusing on how these platforms influence managerial decision-making. It includes a survey conducted among 100 students to gather data on their shopping preferences and perceptions of online versus offline retail. The survey methodology, sampling frame, and questionnaire design are detailed, along with both quantitative and qualitative data collection methods. The data collected is summarized using representative values such as arithmetic mean, median, and mode, and analyzed using measures of dispersion, quartiles, percentiles, and correlation coefficients to draw useful conclusions. The report also includes trend lines in spreadsheet graphs to illustrate the impact over a minimum of 3 years and presents a formal write-up suitable for publication in a retail magazine. Furthermore, it discusses how various systems serve different levels of management, analyzes project timelines, and provides financial tools for decision-making, including NPV and IRR calculations to advise on project investments. The findings suggest a shift towards online shopping and the need for retailers to adapt to changing consumer behaviors.

Business decision making
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Table of Contents
Introduction:....................................................................................................................................3
Task 1...............................................................................................................................................4
a) Create a plan for collecting data from students across all campuses...........................................4
b) Present the survey methodology and sampling frame used........................................................4
c) Design a questionnaire for collecting the data.............................................................................5
Qualitative collection of data:..........................................................................................................8
Task 2...............................................................................................................................................9
a) Summaries the data collected from the survey using representative values (arithmetic mean,
median and mode)............................................................................................................................9
b) Analyze the results of the survey and draw conclusions...........................................................10
c) Analyze the data using measures of dispersion.........................................................................10
d) Explain how you can use quartiles, percentiles and the correlation coefficient to draw useful
conclusions....................................................................................................................................11
Task 3.............................................................................................................................................12
Presenting the report and its findings............................................................................................12
b) Create trend lines in spreadsheet graphs to show the level of impact over a minimum of 3
years...............................................................................................................................................20
d) Write a formal report for publication in the Retail Times magazine........................................21
Task 4.............................................................................................................................................23
a) How do the following systems serve the various levels of management in a business? You are
to describe their characteristics and the roles they play in a business...........................................23
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b) A publisher has just signed a contract for the publication of a book. What is the earliest date
that the book can be ready for distribution based on the following activities with time estimates:
.......................................................................................................................................................24
c) Using financial tools for decision-making advice a business planning on investing in a project
.......................................................................................................................................................24
d) If the rate of finance at which the business can borrow is 10% calculate the NPV and advice if
it is worth considering this investment..........................................................................................25
e) Calculate the Internal Rate of Return (IRR) and explain the meaning of the result..................25
Conclusion.....................................................................................................................................26
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Introduction:
From the past market research, it has been observed that the popularity of the shopping malls and
the high street plazas is fading out slowly. The reason is technological advancement and the
appearance of multichannel platforms for shopping. These platforms are taking a toll on the
existing shopping malls and shops. The shopping has started shifting to online bases and also
adapting to technologies in order to accelerate profitability. The section to follow will analyze
how the street shops and malls are affected by the different multichannel platforms and also
focus on the ways these platforms are influencing the managerial processes like decision making.
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Task 1
Planning the survey
a) Create a plan for collecting data from students across all campuses.
To analyze the influence of the different online shopping platforms and their effect on the
shopping malls and high street shops, it is significant to figure out the most essential data
collection guide to your project. There are two type of data collection method. They are: Primary
data collection procedure and secondary data collection procedure. Primary data collection gives
out such data that are brand new and to be collected for the very first time. Secondary data
collection can be defined as the procedure of data collection from the present or more precisely
existing resource. A survey being conducted based on 100 pupils of UKCBC College. A set of
close-ended questions will be given to the pupils during the Tiffin hours within the campus. The
survey would be helpful in collecting information about the primary data. The researcher would
collect the data so that the information can be gained.
The project can face some problems and hindrance. The governing body of the college must have
the information regarding the survey and the researcher must take prior permission. The time and
money factor should also be taken into consideration. For instance the data collection consumes
time and it is not possible to compel the students to submit the survey sheet within a short span.
The communication and also the buying of the online journals can be higher than the stipulated
cost.
b) Present the survey methodology and sampling frame used
There are several methods of collecting data for the primary data collection .There are number of
methods that are being used to complete the project. The methods that are used frequently are
Bias in sampling, Systematic sampling, Snowball sampling, Stratified sampling, Convenience
sampling, Quota, Clustered sampling, and some others. The mostly used method is the random
sampling method and the other one is the probability sampling method. In case of random
sampling method all the members of a particular population receives equal opportunity for the
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participation in the given project. This is the simplest and easiest way of collecting the data. The
data collection method used for this survey is random sampling method.
This project would collect two types of primary data. One is qualitative and another one is
quantitative. The two approaches mentioned here are very advantageous for collecting detailed
information. The size of the sample is 100 students of UKKBC College. The survey gives a
detailed account of the quantitative data whereas the interview gives qualitative information. In
order to gather qualitative information it is necessary to interview two managers from the high
street shops and the other one from an online platform should be interviewed.
c) Design a questionnaire for collecting the data.
The set of questions that have been prepared for collection of quantitative data are as follows.
The result of the survey is also presented in the form of a table in the section that follows. The
percentage of respondents has also been calculated.
1. Gender category:
Options Percentage of
respondents
Number of
respondents
Total number of
respondents
Male 50 50 100
Female 49 49 100
Others 1 1 100
Table: 1: Age of respondents
2. What is your age?
Options Percentage of
respondents
Number of
respondents
Total number of
respondents
Below 20 32 32 100
20 to 25 45 45 100
25 and above 23 23 100
Table: 2: Gender of respondents
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3. Do you agree that offline shopping is fading away because of online shopping?
Options Percentage of
respondents
Number of
respondents
Total number of
respondents
Highly agree 45 45 100
Agree 28 28 100
Neutral 04 04 100
Disagree 12 12 100
Highly disagree 11 11 100
Table: 3: respondents’ decision regarding the online and offline shopping
4. Is multichannel shops are taking over the high street shops?
Options Percentage of
respondents
Number of
respondents
Total number of
respondents
Yes 50 50 100
Neural 30 30 100
No 20 20 100
Table: 4: respondents’ decision regarding the online shops preference over high street
shops.
5. Do you agree that online platforms and multichannel platforms provide more discounts
than high street shops?
Options Percentage of
respondents
Number of
respondents
Total number of
respondents
Highly agree 43 43 100
Agree 24 24 100
Neural 01 04 100
Disagree 15 12 100
Highly disagree 17 17 100
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Table: 5: respondents’ decision regarding the discounts and offers of online platforms
6. How often do you change your shopping channels?
Options Percentage of
respondents
Number of
respondents
Total number of
respondents
Very frequently 40 40 100
frequently 40 35 100
Neural 5 5 100
Sometimes 5 5 100
Not at all 10 10 100
Table: 6: Change of shopping channel
7. How frequently do you change your favorite brand?
Options Percentage of
respondents
Number of
respondents
Total number of
respondents
Very frequently 15 15 100
frequently 14 14 100
Neural 04 04 100
Sometimes 30 30 100
Not at all 37 37 100
Table: 7: respondents’ opinion about sticking to a single brand.
8. Would you prefer to suggest your friends and mate from offline shops to multichannel
platforms?
Options Percentage of
respondents
Number of
respondents
Total number of
respondents
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Yes 68 67 100
Neural 05 06 100
No 27 27 100
Table: 8: respondents’ decision about the suggestion of offline shops to friends and mates
Qualitative collection of data:
What according to you are the major influences of multichannel platforms on shopping
malls?
Manager 1: the manager here stated that the online mediums of shopping are actually
influencing the growth and profitability of shopping malls and plazas .Multichannel platform is
in vogue and young generation people are more attracted to this.
Manager 2: This manager has mentioned that multichannel platforms are much more acceptable
and pocket friendly. Hence the customers are changing their mode of buying products from
shopping malls to online shops. The high street malls are going out of trend especially for the
youngsters.
Manager 3: The manager has mentioned that the multichannel platforms are not being able to
put large impact on the shopping malls and plazas. But it is worthy to mention that such
platforms are creating a competition in the market and the organizations are in dire need of
introducing different innovations.
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Task 2
a) Summaries the data collected from the survey using representative values (arithmetic
mean, median and mode).
The data is found by using arithmetic values that are mean, median and mode.
Q 3. Do you agree that offline shopping is fading away because of online shopping?
Options Percentage of
respondents
Number of
respondents
Total number of
respondents
Highly agree 45 45 100
Agree 28 28 100
Neutral 04 04 100
Disagree 12 12 100
Highly disagree 11 11 100
Mean Median Mode SD
2.1875 2 1 1.019975
Q6. How often do you change your shopping channels?
Options Percentage of
respondents
Number of
respondents
Total number of
respondents
Very frequently 40 40 100
frequently 40 35 100
Neural 5 5 100
Sometimes 5 5 100
Not at all 15 15 100
Mean Median Mode SD
2.2 2 2 0.959958
Correlation Coefficient: 0.917888
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b) Analyze the results of the survey and draw conclusions.
The above analysis shows that consumers prefer multichannel platforms for shopping. The
youngsters are more inclined towards online shopping as it saves time and is affordable. The
young generation likes modification, changes and alteration. The preferences change time to
time. The survey that has been conducted in the UKCBC college shows that the young
generation keeps on changing their tastes and behavior. Thus any organization or ecommerce
platform needs to constantly introduce new ideas several channels to suit with the changing
behavior of the consumers. The offline retailers should expand their business and start online
projects because with more days, people will only opt for online shopping for its feasibility. In
order to remain upgraded with the expectations of the consumers, it is important for the high
street shops to start online business. The above data also reflects that consumers constantly
change their brands and is open to new brands. Thus it is necessary for the organizations to
continuously upgrade their products, make changes and innovate new things to keep the
customers happy and satisfied.
c) Analyze the data using measures of dispersion.
The average value of the data is the mean. In the third question, the mean value is 2.1875 and in
the sixth question, the mean value is 2.2. Median value helps in the scope analysis. In both the
questions, the median value is 2. This shows that the respondents present in the liker scale 2 can
change their preferences and opinions in liker scale 1. These respondents can be easily convinced
for changing their decision to liker scaler1. Thus, these people change their preferences for
brands frequently. Mode defines the highest value. In question number 3, the mode value is 1
and in question number 7, the mode value is 2. In question number 3 whether they think offline
shopping is losing its value because of offline shopping. This medium value comes to 2 which
reflect that the respondents highly believe that online shopping is ruling over offline shopping.
Standard deviation, on the other hand, is used for risk analysis. Thus the high street shopping
malls need to change their way of business to earn profits or else the online shopping ecommerce
will benefit in terms of popularity as well as profits.
If the SD value is more than 0 to one, then the chances of risk is high. On the other hand, if the
SD value is less than one, then the possibility of risk is low. The consumers are asked here in
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question number 6, whether they change their shopping channels and the responses are positive
which means that they prefer changing their shopping channels. As the SD value is more than 0,
it rightly proves that the consumers change their brands and shopping channels frequently. This
indicates that the organizations should invent new strategies and methods to suit the preferences
of the customers. Companies should develop new brands and bring new innovations to reach out
to every customer.
d) Explain how you can use quartiles, percentiles and the correlation coefficient to draw
useful conclusions
The three arithmetic modes that analyze data regarding customer management are quartiles,
percentiles and the correlation coefficient. These three methods analyze data that is beneficial for
the growth of the company.
Quartile shows the lowest and the highest amount of money. Quartile is one way that identifies
range where population occurs. Lower quartile denotes value below which 25% of the
population fall and upper quartile is the value above which 25% of the population falls.
Percentile determines the percentage of a value. For example in the third question the total
number of people who have highly agreed with the question is 28, so the percentile value is also
28%. This value assists in understanding the value of the data. This will help the researcher to
identify the exact number of people who prefer online shopping and who do not.
Correlation is the relationship between two variables. Correlation value has a limit. It should be
in between -1and +1. A downhill liner relationship indicates a negative value of -0.70. This
shows a negative liner relationship. The correlation coefficient result here is near 1. This shows
a uphill linear relationship.
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