Consumer Behavior: Young Consumers and Retail Shops in Hong Kong

This presentation examines consumer behavior, specifically focusing on young consumers and retail shops in Hong Kong. It explores key concepts and theories, including economic, psychological, and socio-cultural influences. The analysis covers factors influencing buying decisions, such as affordability, product range, and communication strategies employed by retail outlets. The presentation also delves into the loyalty of young consumers towards retail shops, highlighting the importance of engaging communication, innovative loyalty programs, and attractive offers. Furthermore, it investigates the increasing impact of online retailing on young consumers, considering convenience and availability of offers. The conclusion summarizes the preferences of young consumers, including affordability, friendly staff, wider options, and their inclination towards online retail stores. The presentation is supported by relevant academic references.

CONSUMER BEHAVIOR-Young consumers and retail shops in Hong Kong

KEY DELIVERABLES
CONCEPT AND
THEORIES - CONSUMER
BEHAVIOR
COMMUNICATION
TRAINING
ABOUT THE CASE
- KEY FINDINGS
LOYALTY OF YOUNG
CONSUMERS
ONLINE PURCHASE
-Young consumers
CONCLUSION
-SUMMARY

CONSUMER BEHAVIOR- CONCEPTS AND
THEORIES
Involves:
 individual, groups and
purchase activity
 Mental, behavioral and
emotional responses
 Marketing factors,
personal factors,
situational factors, social
factors and psychological
factors
Theories:
Economic theories
Psychological theories
Psycho-analytical
theories
Socio-cultural theories

oHonk Kong is a shopping hub for people of every age
oMain target of retail outlets are young consumers
oIn a survey of 89 residents of age 15-21 reflected
favorite retail outlets as clothing and food
oEncounter with retail staff, product attributes and
physical environment are main influencing factors
oThe main factors that influences buying decision of
young consumers are affordability, wide range and
effective communication strategies

TRAINING- COMMUNICATION PRACTICES
Training and communication strategies:
• Role play inducing the behavior of friendly conversation
• Understanding about buying behavior of young consumers
• Training sales staff to help only when asked for assistance
• Restricting the use of heavy jargons
• Keeping it positive
• Avoiding conversation killers
• Understanding when to say sorry

YOUNG CONSUMERS- RETAIL OUTLET LOYALTY
• Yes, moderate possibilities
• Engaging communication practices
• Innovating loyalty program
• Attractive offers
• Regular customer feedback
• Celebrating their loyalty with offers (Gbadamosi,
2017).
• Exclusive range for loyalty program subscribers

ONLINE RETAILING- YOUNG CONSUMERS
• Yes
• Increasing impact of social media
• Prefers convenience due to career pressure
• Availability of offers and wide range (Kooti et al.,
2016).

CONCLUSION
• Young consumers prefers affordability
• Young consumers prefers friendly and approachable staff
in retail stores
• Young consumers prefers wider options in retail stores
• Increasing inclination towards online retail stores

References:
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Rivista di Economia Agraria, 70(2), 121-138.
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Journal of Risk and Uncertainty, 55(2-3), 119-145.
• Chatterjee, P., & Kumar, A. (2017). Consumer willingness to pay across retail channels. Journal of Retailing and Consumer
Services, 34, 264-270.
• Gbadamosi, A. (Ed.). (2017). Young Consumer Behaviour: A Research Companion. Routledge.
• Kooti, F., Lerman, K., Aiello, L. M., Grbovic, M., Djuric, N., & Radosavljevic, V. (2016, February). Portrait of an online
shopper: Understanding and predicting consumer behavior. In Proceedings of the ninth ACM international conference on
web search and data mining (pp. 205-214). ACM.
• Murphy, M. C., & Dweck, C. S. (2016). Mindsets shape consumer behavior. Journal of Consumer Psychology, 26(1), 127-
136.
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