Consumers Take Time To Get Accustomed To New Store Formats: Dr. Piyush Kumar Sinha, IIMA

Event: 2nd AIM-AMA Sheth Foundation Doctoral Consortium, January 5-7, 2014
Session: Bridging Research Perspectives I – Retailing
Speaker: Dr. Piyush Kumar Sinha, Professor of Marketing, IIMA

Dr. Sinha talks about modernization of the retail industry in emerging markets. He says that factors such as community, caste and location all affect the industry. Apart from these factors, he says that ‘convenience’, which can mean a number of things like – access, location, time of opening, home delivery, proximity, product assortment, also influences the retail industry.

Talking about emerging store formats, Dr. Sinha says that retailers need to understand visual merchandising- what product to display and how to display, as it plays a significant role in achieving sales. He further adds that with new store formats not only change the way of selling but also the way of buying and consumers take time to get accustomed to new store formats.

To illustrate his point, Dr. Sinha shares findings/implications of various research projects undertaken to understand consumer behavior and the evolving retail environment. One of the research projects that he talks at length about is how touch influences product attitude and shopping intentions.

Lack of adequate literature in marketing, omni channel marketing and online market are the other topics that he touches upon during his presentation.