CONSUMERS' PERCEPTION OF SHOPPING CENTRES' IMAGE : A CASE STUDY ON MARINA CENTRE

Abstract

As Singapore's economy matures, so does the retail industry. In a market saturated with formidable competitors, retailers now exist in a more aggressive environment. Many retailers believe that the success of their shopping mall depends on having the right location, right product and right price. They tend to overlook the effort that has to be put into creating a centre which is different from others. They do not realize that from a consumers' point of view, what distinguishes one shopping mall from another is not just the product or the price. Rather, it is the "image", i.e. the dimensions which the consumers perceive as the shopping mall. A survey was conducted to determine the attributes of store image so as to uncover the shoppers' preferences. The survey revealed that while location plays a critical role in determining shoppers' preferences, products and store range are the most important determinant of patronage behaviour. Consumers are more likely to shop in areas that consist of a wide range of stores offering a variety of products. Through factor analysis, we uncover the critical factors that shape centre image and influence retail patronage. Centre attributes are grouped into components attributes to allow retailers to see the "big picture". The four main component factors are: Tenant mix; Service quality and ancillary services; Location; and Design and reputation. The aim of this study is to articulate the needs and preferences of the consumers. In turn, the owners and developers may capitalize on this information to plan an appropriate marketing strategy to capture a greater market share.