Influence of store brands on variety-seeking behaviour of consumers in Mexico

Abstract

The variety-seeking behaviour and the store choice among the consumers have been discussed extensively in the previous research contributions from the stochastic point of view. This study argues that although consumers are seeking novelty and unexpectedness in a store that they have not bought before, their purchase will be selective, in reference to the empirical investigation. This study has been conducted in Mexican retail business environment with a focus to explore the tendency of decision-making of consumers towards buying unfamiliar stores in considering the importance of store name. The discussions in this paper have been woven around the issues of perceived risk, perceived store difference, association of store name and customer values as major influencing factors in making buying decisions towards unfamiliar stores. This study reveals that the perceptions on store name in reference to store risk and store differences have been the prime factors in making buying decision for new stores among the consumers. Consumers also ascertain the store name associated with the unfamiliar stores as they feel high risk averse and entangle in decision-making with perceived store differences.