An Introspective Study of Local Diversities in Retail Purchase Behaviour to Formulate Retail Strategy for the Global Players

Abstract

The order of present day business being global, a constant adaptation and reinvention of marketing strategies is imperative so as to face the challenge of satisfying the local customers in the global markets. In the Retail sector, India is currently witnessing tremendous growth; but there has been a dismal performance by many owing to the fact that Westernised formats in India have been blindly followed and replicated without considering the abysmal differences in all types of macro and micro environmental factors. So it is obvious that we need to find out some solutions for the retails in India, keeping in mind the intrinsic differences in the people across the country in terms of culture, economic condition, purchase attitude and so on. This paper attempts to highlight the differences in Retail Purchase Factors across customers and suggest a way out for effective marketing in global markets with local orientation.