Consumer Behavior and Retail Strategy

Abstract

The small and medium-sized independent retailers’ success is directly related to understanding consumer behavior, particularly the behavior of the store’s customers and responding effectively. Here, the point must be made emphatically that understanding consumer behavior is not for the purpose of exploiting consumers, but to satisfy their needs better than retail giants who treat customers as simply numbers. The independent retailer’s strength is to make sure that the customers, individually, are satisfied so that they will come back to the store again and again. The key to success is the creation of consumer value.