Consumer Behaviour Project Report- Retail Store: Reliance Trends

Introduction:

Reliance Trends, a subsidiary of Reliance Industries Limited (RIL), has emerged as a prominent fashion and accessories retail chain in India since its establishment in 2007. Offering trendy and affordable fashion choices for men, women, and children, Reliance Trends has become a favored destination for shoppers across the country.

Product Range and Innovation:

Reliance Trends boasts a diverse range of fashionable clothing and accessories, catering to various styles, occasions, and preferences. From shirts, trousers, dresses, ethnic wear to sportswear, the brand offers an extensive selection. Additionally, accessories like footwear, handbags, jewelry, and cosmetics complement the apparel range. The brand emphasizes continuous innovation by updating its collections regularly to align with the latest fashion trends and consumer preferences.

Target Market:

Reliance Trends targets a broad demographic of consumers, including budget-conscious shoppers, fashion enthusiasts, and families seeking quality clothing at competitive prices. With offerings for individuals of all ages and backgrounds, Reliance Trends ensures inclusivity and accessibility in its product range.

Brand Identity and Values:

Reliance Trends is recognized for its commitment to providing fashionable and affordable clothing choices while upholding high standards of quality and customer service. The brand's identity revolves around reliability, trustworthiness, and accessibility, making fashion accessible to everyone. Reliance Trends values innovation, sustainability, and inclusivity, aiming to create a positive impact on both customers and society.

Retail Experience:

Reliance Trends stores offer a pleasant and convenient shopping experience with well-lit, spacious interiors designed to enhance the customer's browsing and purchasing journey. Situated in high-traffic areas, shopping malls, and urban centers, these stores are easily accessible to a diverse customer base. Trained staff members are available to assist customers and provide personalized service, ensuring a satisfying retail experience for all shoppers.

Methodology:

To gain valuable insights into customer behavior at Reliance Trends, a comprehensive approach was employed to gather primary data. In-store observations were conducted at a Reliance Trends location in New Delhi over a 10-12 hour period. Various aspects of customer purchasing behavior were discreetly documented, including product interaction, engagement with products, price comparison, and customer inquiries. These observations aimed to capture the nuances of customer behavior within the Reliance Trends shopping environment. The collected data would be analyzed to identify patterns and potential correlations, utilizing techniques such as chi-square tests to explore relationships between factors like gender, age group, and purchasing behavior.

Analysis and Findings:

Explanation of Correlations:

1. Age vs Time Spent: There is no correlation between the age of customers and the time spent in the store, indicating that regardless of age, customers spend a similar amount of time shopping.

2. Gender vs Trails: Gender and use of trial rooms are positively correlated, suggesting that one gender tends to use trial rooms more frequently.

3. Gender vs Time Spent: Gender and time spent by customers in the store are positively correlated, indicating that one gender tends to spend more time shopping than the other.

4. Discount Offers vs Shopping: There is no correlation between discount offers and shopping behavior, implying that the presence of discounts does not significantly influence shopping activity.

5. Online Comparison vs Shopping: There is a strong positive correlation between online comparison and shopping behavior, suggesting that customers are more likely to make purchases if they find products cheaper in-store compared to online prices.

6. Age vs Payment Option: While there is a positive correlation between age and payment option, it is not significant, indicating that age may influence payment options chosen by consumers to some extent, but the effect is not substantial.

7. Gender vs Payment Option: There is a negative correlation between gender and payment option, implying that one gender is more inclined to use non-correlated payment options compared to the other.

Recommendations to the Store:

1. Optimize Store Layout and Product Display: Analyze customer traffic patterns and product engagement to optimize store layout and product display. Ensure popular items are easily accessible, and consider grouping complementary items together.

2. Enhance Staff Training: Train staff to be attentive and approachable while remaining unobtrusive. Empower them with product knowledge to effectively answer customer inquiries and provide personalized recommendations.

3. Streamline Checkout Process: Evaluate wait times and consider implementing additional checkout counters or self-checkout options to improve checkout efficiency.

4. Leverage Technology: Explore integrating digital tools within the store, such as interactive displays with product information, touchscreens for price comparisons, or mobile apps for loyalty programs and promotions.

5. Targeted Promotions and Marketing: Analyze customer demographics and behavior data to tailor promotions and marketing campaigns to specific customer segments. Highlight popular trends, offer targeted discounts, and promote loyalty programs.

Conclusion:

The customer behavior study at Reliance Trends provided valuable insights into how customers navigate the store, interact with products, and make purchasing decisions. By analyzing these insights and implementing the suggested recommendations, Reliance Trends can enhance the overall customer experience, potentially leading to increased customer satisfaction, loyalty, and sales.

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Reprt Compiled by:-

Himanshu Goel 

(LegalMantra.net Team)

Disclaimer: Every effort has been made to avoid errors or omissions in this material in spite of this, errors may creep in. Any mistake, error or discrepancy noted may be brought to our notice which shall be taken care of in the next edition In no event the author shall be liable for any direct indirect, special or incidental damage resulting from or arising out of or in connection with the use of this information Many sources have been considered including Newspapers, Journals, Bare Acts, Case Materials , Charted Secretary, Research Papers etc.