A study of the Hong Kong off-price retail shopping in lifestyle analysis

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A study of the Hong Kong off-price retail shopping in lifestyle analysis

 

Author: Li, Lai-hung Kate
Title: A study of the Hong Kong off-price retail shopping in lifestyle analysis
Degree: M.A.
Year: 2000
Subject: Consumers' preferences -- China -- Hong Kong
Consumer behavior -- China -- Hong Kong
Retail trade -- China -- Hong Kong
Lifestyles -- China -- Hong Kong
Hong Kong Polytechnic University -- Dissertations
Department: Institute of Textiles and Clothing
Pages: 101, [36] leaves : ill. ; 30 cm
Language: English
InnoPac Record: http://library.polyu.edu.hk/record=b1517799
URI: http://theses.lib.polyu.edu.hk/handle/200/3480
Abstract: Hong Kong is currently suffering economic recession as several financial crises originated in South East Asian swiftly spread across the region in the end of 1997 and 1998. Lots of marketers believe that the consumers would buy less when their purchasing power is falling and try to decrease their budgets among expenditure from shopping. Besides. consumers are also becoming more price conscious to suit their practical needs and lifestyles under this unfavorable economic condition. In addition. the intensification of retail competition and growing market saturation in Hong Kong, there is the need for more creative positioning and differentiation tools in retailing is greater than ever. The off-price retailing is a kind of a retailing phenomenon that provide fashionable and stylish products at a comparative lower price level than the market price in order to satisfy consumers needs and wants. Therefore, the idea of examining the possibility of the off-price retailing in Hong Kong with the use of life-style analysis on consumer's personal factors towards shopping preference will be conducted in this study. The main aim of this project is first to investigate the consumer's lifestyle in Hong Kong in effect to the shopping preference on the of-price retail shops; second, to make an analytical study on the consumers' attitude and perception towards on the off-price retail shopping. In order to have a deeper understanding of the present situation and future potential, general environments were investigated and studied. Consumer research and company interview was conducted to obtain a thorough understanding of the off-price retailing in Hong Kong. According to the findings and analysis on the consumer characteristics of off-price retail shops, they are mostly in younger female age; middle-income and higher education level with majority occupations are white collars and professional. Furthermore, the lifestyle analysis has resulted into three different lifestyle characteristics identified as fashion conscious, shopping enjoyment and price conscious, They can be satisfied by means of the product differentiation in order to attract customers and satisfy some minimal of customer needs. Therefore, the off-price retail shops seek to create something at lower price, unique and stylish about their products and good layout of the shops in order to appeal to the customers' lifestyle. As the off-price retail shop now in the innovation stage of the retail life cycle in Hong Kong, there should be the market opportunities in this competitive retail sector. Some recommendations of marketing strategies are given to marketer as a reference to aid them with the developing of off-price retailing in near future.

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