Differences in Factors Attracting Consumers to Taiwan's Supermarkets and Traditional Wet Markets

Abstract

Exit interviews were used to summarize factors attracting consumers to six supermarkets and three wet markets in a representative city. Using the history of the marketplace as the foundation for analysis, the strengths and weaknesses of the two retail formats are introduced and are compared to the consumer response data. Findings indicate that the decline of Taiwan's traditional markets will probably continue until all are replaced by new retail formats. Currently, the traditional market is in the weakest of all the retail positions since it supplies the needs of a shrinking population of older consumers with preferences and shopping behaviors unlike those of younger, nontraditional consumers. Supermarket expansion is slowing because new hypermarkets, convenience stores, and warehouse stores are competing to satisfy the needs of the younger, more mobile target population. Overall, store formats that provide lower prices, sales promotions, a good environment, good product quality, and good service have the greatest opportunity to build consumer loyalty and increase market share.