Introduction
Springdale Mall, West Mall, and Main Street in the downtown area are the three primary shopping centers used by the Springdale community. The need to understand consumer behavior and spending in each shopping area led to the use of telephone surveys to assess their contribution to the strengths and weaknesses of each retailer. Probability research is essential in organizations as it helps collect data and predict (Yan et al., 2019).
Data Collection
This survey collected data from 150 respondents regarding their demographic information, shopping habits, and perceptions of the quality of goods and services available in the three shopping areas. The data were analyzed using frequency probabilities to gain insights into the respondents’ nature and spending behaviors.
Customers prefer commodities that provide maximum utility at the minimum cost, influencing their purchasing decisions (Ballco & Gracia, 2020). The research compares the probability that males and females spend at least $15 during a visit to the three shopping areas and will rank the areas from strongest to weakest based on the amount of money spent during a visit.
Analysis
First, we will analyze each respondent’s probability of spending at least $15 during a trip while purchasing from each of the three major shopping areas. The table below shows the relative frequency probabilities associated with each area. Based on these relative frequency probabilities, Springdale Mall receives the highest customer spending in each trade, followed by West Mall and Downtown.
Table 1: Spending at Least $15
Next, this analysis will examine the probability that a randomly selected respondent from the three major shopping areas will perceive it as having the highest-quality goods. The frequency probabilities in Table 2 indicate that Springdale Mall provides quality commodities.
Table 2: Highest Quality Goods
The third part of this study examines the same probability metrics, but only for female respondents. Table 3 presents the relative frequency probabilities for each distributor, indicating the rate at which customers spend in each shopping period.
Table 3: Spending at Least $15 (Female Respondents Only).
According to the relative frequency probabilities, female respondents prefer shopping at Springdale Mall the most. The data also suggests that women are more likely than men to spend at least $15 during their visit to Springdale Mall. Overall, Springdale attracts the highest-spending shoppers who value product quality. At the same time, Downtown ranks second in spending, and West Mall ranks the lowest. Competition emerges when customers expect quality products at lower prices (Haeeb et al., 2019).
Gaining a competitive advantage is crucial for businesses, as it helps draw customers and sustain profitability. Thus, each of the three shopping centers seeks to manage specific resources to gain a competitive edge over its competitors (Wang, 2019). These insights can guide decisions on allocating resources across the malls to enhance their appeal to local shoppers.
Conclusion
This paper’s analysis of the Springdale Shopping Survey results has provided insights into residents’ shopping habits and perceptions, as well as the relative strengths and weaknesses of the three retailers within Springdale’s community. The results indicate that Springdale Mall is the strongest based on consumer spending and the quality of goods offered.
Downtown is the second strongest in terms of the amount of money spent, and West Mall is the weakest. In terms of gender, females are more likely than males to spend at least $15 during a visit to any of the shopping areas. The results of this analysis can inform decisions regarding the allocation of resources to the three shopping areas, maximizing their attractiveness to local shoppers.
Recommendations
To maximize the attractiveness of Springdale Mall to local shoppers, the city should invest in enhancing the overall shopping experience, including improvements to the mall’s aesthetics, expanding the number and variety of stores, and providing additional amenities and services. Additionally, I would suggest that the city invest in marketing and promotional campaigns targeting female shoppers to increase the likelihood that they will visit the mall and spend money. Ultimately, I recommend investing in enhancing the shopping experience at West Mall and Downtown to boost its competitiveness by offering more amenities, diversifying the store selection, and enhancing the overall aesthetic appeal.
References
Ballco, P., & Gracia, A. (2020). Do market prices correspond with consumer demands? Combining market valuation and consumer utility for extra virgin olive oil quality attributes in a traditional producing country. Journal of Retailing and Consumer Services, 53, 101999. Web.
Haseeb, M., Hussain, H. I., Kot, S., Androniceanu, A., & Jermsittiparsert, K. (2019). Role of social and technological challenges in achieving a sustainable competitive advantage and sustainable business performance. Sustainability, 11(14), 3811. Web.
Wang, C. H. (2019). How organizational green culture influences green performance and competitive advantage: The mediating role of green innovation. Journal of Manufacturing Technology Management. Web.
Yan, S., Zhou, X., Hu, J., & Hanly, S. V. (2019). Low probability of detection communication: Opportunities and challenges. IEEE Wireless Communications, 26(5), 19-25. Web.