The impulsive buying behaviour is a common trend in today’s market environment. Impulsive buying behaviour is an urge or temptation to purchase a product or service with no consideration of the consequence of the purchase. Controlling impulsive buying behaviour is essential to improving an individual's psychological well-being.
This is a solution of Chinese Retail Industry Assignment Help in which we discuss solution of Chinese Retail Industry.
The impulsive buying behaviour is a common trend in today’s market environment. Impulsive buying behaviour is an urge or temptation to purchase a product or service with no consideration of the consequence of the purchase. Controlling impulsive buying behaviour is essential to improving an individual’s psychological well-being. On the other hand, stimulating impulse buying is one of the key strategies employed by retailers to ensure that they increase their sales revenue. The five key stimulators of impulsive buying behaviour includes impulse-buying tendency, vicarious ownership, window displays, income levels, credit card usage. The impulsive buying behaviour is common in many markets today, and the Chinese retail industry is not an exception. This research aimed at investigating how window displays, income level and credit card offers influence the level of impulse buying in the Chinese retail industry.See More About:- Business Organization System part 3
The researcher extensively reviewed the existing literature and was able to formulate three hypotheses that were evaluated and examined to draw conclusions. The first hypothesis stated that window displays have a significant influence in increasing the level of impulse buying in the Chinese retail industry. The seconded hypothesis stated that Income level increases the level of impulse buying in the Chinese retail industry.
According to the third Hypothesis, high level of income increases the level of impulse buying in the Chinese retail industry. The research adopted the use of positivism philosophy, quantitative research approach, survey research strategy, descriptive research design and the primary method of data collection. The respondents’ responses were descriptively analysed to draw conclusions from the 490’s successfully returned questionnaires.
According to the research findings, window displays, income level and credit card usage increases the level of impulsive buying behaviour in the Chinese retail industry. The researcher provides key recommendation on how retailers can maximise on window displays, income level and credit card usage to increase their sales revenue. Futures studies are also guided to maximise on the weaknesses of this research. For instance, the futures studies can use larger samples and investigate the impact of other variables such as customer loyalty and product quality on the level of impulse buying.
According to Ahmad &Vays (2011), impulsive buying behaviour is a common trend in today’s market environment. Adjani, Salimi&Ardestani (2012) define impulsive buying behaviour as an urge or temptation to purchase a product or service with no consideration of the consequence of the purchase.
Further, as noted by Chang, Eckman& Yan (2011), controlling impulsive buying behaviour is essential to improving an individual’s psychological well-being. Hostler et al. (2011) further note that impulsive buying behaviour has a close connection to unhappiness and anxiety because in some situations it can lead to remorseful reactions.
As argued by Kalla& Arora (2011), understanding impulsive buying behaviour from the psychological perspective will play a critical role in helping a consumer to make smarter and more rational buying decisions.
Karbasivar&Yarahmadi (2011) highlight five key motivators of impulsive buying behaviour, which are closely connected to an individual’s psychology in the Chinese retail industry. The first motivator of impulsive buying is the impulse-buying tendency, which is a personality trait possessed by some individuals. The impulse buying tendency motivates an individual to form a habit of buying anything attractive to him.
As expounded by Karbasivar&Yarahmadi (2011, the impulse-buying tendency is connected to detrimental behaviours. For instance, individuals with the impulse-buying tendency are status-conscious, image-concerned and socially active. This category of persons participates in impulse buying to look better in the eyes of other buyers. Similarly, Liang (2012) argues that impulse buying tendency creates anxiety that makes it difficult to control impulse buying.
People who have the habit of purchasing to improve their social status experience difficulties in managing their emotional urges to spend. Ling, Chai &Piew (2010) also note that individuals with personality traits of impulsive buying tendency experience unhappiness, so they buy impulsively to improve their moods. Individuals who are involved in impulsive purchasing in most cases fail to consider the consequences. The second motivator of impulsive buying behaviour is fun and vicarious ownership. According the research conducted by Maymand& Ahmadinejad (2011), some individuals want to experience pleasure and own the products that please them.
Further, Mihić&Kursan (2010) postulate that vicarious ownership and fun are strongly related to brand and service reliability. When individuals have a strong connection with certain products or services, Mihić&Kursan (2010) argue that the perceived quality influences their buying behaviour. The three connections between the product and the impulse buyer are the physical connection, temporal connection and the social connection. Mohan, Sivakumaran & Sharma (2013) explain that a physical relationship with the product is formed when an individual is closer to it and can touch it.Read More About:- Discuss About Successful Entrepreneur Assignment Help
A physical relationship leads to a temporal relationship with the product when it is purchased. A social relationship with the products is formed when an individual can compare himself with other people using similar products. The social connection with a product tends to make some individuals think that they are better off and happy when seen making expensive purchases (Muruganantham&Bhakat, 2013). Therefore, the feelings of happiness and respect will drive an impulsive buyer to buy unbudgeted products without considering its consequences on spending.
According Nazir et al. (2012), the impulsive buying behaviour is common in many markets today, and the Chinese retail industry is not an exception. This research project aimed at investigating the factors that influence the level impulsive buying behaviour in the Chinese retail industry. Despite the fact that many studies have been conducted in this area, more focus has been diverted from the factors triggering impulsive behaviour in various markets.
The specific attributes that will be considered to achieve the core objectives of this study include the window displays, income levels and the availability of credit card offers. The current literature has not put more focus on the mentioned attributes. Similarly, those studies that have tried to highlight the impact of window displays, income level and credit card offers provide inconclusive or inadequate findings. To address this existing gap, the researcher chose Chinese retail industry that is one of the biggest global markets affected by impulsive purchasing behaviour.
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