Market trends: Understanding retail customers

Abstract

All of us patronize shopping malls and retail outlets, buying goods and services for our own consumption and for gift-giving. By engaging in these activities we are in a good position to reflect on our personal experiences, but what in general is known about retail customers and what changes are becoming apparent? Corporate and academic analysts are grappling with this question, and it is the focus of this chapter. In the first section a retrospective assessment is presented, with particular attention paid to the way retail consumer choice has been conceptualized and analyzed. The report card shows that considerable advances have been made, although there are areas where more work is required. The next section is forward -looking and examines the buyer-centric revolution that is sweeping through contemporary retailing. In particular, we consider how consumer lifestyles are changing and the impact of these changes on our understanding of consumer choices in the retail context. This section is more speculative and raises as many questions as it provides answers. © 2010 Springer-Verlag Berlin Heidelberg.