The research paper deals with the “Effect of young age on the spending patterns in shopping malls”. This paper deals with the expenditure patterns of the youth in shopping malls. Youths are important considerations for the international marketers due to their size, varied buying patterns and increasing purchasing capability. It is important to understand the inter connection between young age and the lifestyle expenses. The literature review has been done in order to understand the lifestyle of youths. It aims to establish the influence of the youths on the purchase patterns observed in the shopping malls. Some of the important key concepts are discussed such as the consumer buying behavior pattern, purchasing pattern of the youths and factors that influence the process of decision making.
The advent of the shopping malls has made significant changes in the retail industry. The shopping malls are characterized by planned shopping centers and wide variety of shopping items (Can Kurtulmu??o??lu and Atalay 2016). The consumers are attracted to the malls due to the wide assortment of stores in a single location. The shopping malls are also characterized by branded stores, which are quite popular among the youths.
The youths possess significant purchasing power. This is due to the fact that they have significantly higher disposable income and less financial liabilities (Milioni Doudaki and Demertzis 2014). There are varied income sources such as part time jobs, special allowances from parents and others. They are engaged in recreational shopping as they possess significant amount of idle time (Can Kurtulmu??o??lu and Atalay 2016). The influence of peer groups on the purchasing decision of the youths is immense. The maximum purchasing capability resides on the age group 16-25 as they display higher brand conscious behavior (Monczka et al. 2015).
The consumer buying behavior is the decision making characteristics that lead people in making purchases and the subsequent usage of the products (Monczka et al. 2015). The types of the consumer behavior are analyzed by the level of involvement in the purchase decisions (Can Kurtulmu??o??lu and Atalay 2016). There are three factors that determine the purchase decisions of a consumer such as personal, social and psychological (Cheung Xiao and Liu 2014). The consumer purchasing behavior process consists of several phases such as problem recognition, information search, evaluation of the alternatives and purchase decision. This is followed by the actual purchases and the post-purchase decisions.
There are several factors that lead to the consumer decision making process. The first factor is the actual identification of the need of the consumers. The brand awareness of the consumers is also essential for making actual purchases in the shopping malls (Malik et al. 2013). The consumers must have concrete information for evaluating the alternative solutions. This would enable them to purchase more items from the shopping malls.
Description of Approach
The literature review is performed by skimming and reading the underlying concepts related to the topic. The first step involves the identification of important concepts are extracted from the topic (Creswell 2013). The next step involves the searching of the key concepts in the online sources. This process is followed by the development of the arguments including the argument of discovery and the argument of advocacy (Creswell 2013). The next step involves the compilation of the gathered information and presenting them in a logical manner. The various sources for the collection of the information are journal articles, abstract, dissertations, reviews, research reports, thesis and others (Creswell 2013).
There are several themes relating to the research topic. Youths represent the transition phase between the dependence of the childhood phase and the independence of the adulthood phase (Monczka et al. 2015). There are several changes associated with youth such as biological, economic, social and demographic. The lifestyle of the youths has seen significant transformation and they constantly need new stuffs in order to maintain their status in the society. They feel the need to maintain a high profile lifestyle and this increases the footfalls in the shopping malls. They prefer the comfort and convenience of the shopping malls, which has led to the proliferation of the shopping destinations. The financial perception of the youths had a strong impact on the shopping frequency of the youths. It has been observed that the females engage in more extensive shopping than their male counterparts. The consumer buying behavior is characterized by the perception of a particular brand (Bedi and Lal 2014). The brand loyalty is an important component. It can be formed during the teenage years, which determine the purchasing decisions of the consumers.
According to Bedi and Lal (2014), the spending patterns of consumers are greatly influenced by the young age population. The spending patterns of the youth are mostly observed in shopping. The shopping patterns of the youth are characterized by the influence of family or friends, eagerness to purchase new things, following the trends and eagerness to be appreciated among the peers. It is also influenced by the media. The youth tend to imitate the dressing and the personality of the celebrities, which makes them visit shopping malls frequently. This is because of the large variety of the items presented by the shopping malls (including designer wear and branded collection). However, Thomas (2013) argues that the youths do not demonstrate significant purchasing patterns in the shopping malls. The mature consumers are more frequent in the shopping malls due to their higher income and the financial independence.
This research is intended for the identification of the gaps between the actual purchases in the shopping malls and the perceived number of purchases in the shopping malls. The research has also identified the expenditure of the youth in a particular shopping destination (shopping malls). The research paper contributes a lot in the field of consumer buying behavior pattern. It also discusses key concepts in the purchasing patterns of the youths and the factors that drives the decision making process. The expenditure patterns of the youth are discussed with special focus on their shopping patterns. This research paper would provide a solid foundation for future studies in this topic. The key marketing concepts concerning consumer purchasing behavior are discussed. It would broaden the understanding of the youths and their purchasing behaviors, which would be helpful for the future researchers.
Bedi, S.S. and Lal, A.K., 2014. Identification of Consumer Decision-making Styles of Youth in Shopping Malls. Asia-Pacific Journal of Management Research and Innovation, 10(3), pp.219-224.
Can, G.F., Kurtulmu??o??lu, F. and Atalay, K.D., 2016. A case study on shopping malls attributes for young consumers. Young Consumers, 17(3).
Cheung, C.M., Xiao, B.S. and Liu, I.L., 2014. Do actions speak louder than voices? The signaling role of social information cues in influencing consumer purchase decisions. Decision Support Systems, 65, pp.50-58.
Creswell, J.W., 2013. Research design: Qualitative, quantitative, and mixed methods approaches. Sage publications.
Malik, M.E., Ghafoor, M.M., Iqbal, H.K., Ali, Q., Hunbal, H., Noman, M. and Ahmad, B., 2013. Impact of brand image and advertisement on consumer buying behavior. World Applied Sciences Journal, 23(1), pp.117-122.
Milioni, D.L., Doudaki, V. and Demertzis, N., 2014. Youth, ethnicity, and a ‘reverse digital divide’A study of Internet use in a divided country.Convergence: The International Journal of Research into New Media Technologies, 20(3), pp.316-336.
Monczka, R.M., Handfield, R.B., Giunipero, L.C. and Patterson, J.L., 2015.Purchasing and supply chain management. Cengage Learning.
Thomas, K., 2013. Brand “piracy” and postwar statecraft in Guatemala.Cultural Anthropology, 28(1), pp.144-160.