Understanding Customer Perceived Mall Values

Abstract

Value-based business strategies are acquiring attention throughout the world. Retailing in India has distinct challenges. The diversity in its population largely affects its retail characteristics. Understanding customer perceived values and developing appropriate strategies is the only way to succeed. The proposed study is designed to explore and validate the customer perceived mall values in an Indian context. To accomplish the objectives, samples were taken from malls located in central India. A total of 257 samples were utilised to conclude the results. As the factor analysis remains a dynamic field of research studies in marketing, EFA and CFA is used to examine the data. The study results show seven customer-perceived mall values: convenience value, epistemic value, exploration value, monetary saving value, self-gratification value, social interaction value, and enjoyment-seeking value. At the end of the study useful managerial implications are provided to mall managers and operators.