I saw it, I bought it! The irrational buying behaviour in retail sector

Komal Malik and Manoj Joshi

International Journal of Business and Globalisation, 2023, vol. 34, issue 1, 17-27

Abstract: Consumers across the world have been creating a whirlpool around non-rationality, which has immersed the retail industry into volatility, uncertainty, complexity and ambiguity (VUCA). This study has attempted to capture the non-rational behaviour of Indian consumers with reference to the apparel retail sector through experiential design of research. The review of the literature brings about various situations or conditions; wherein non-rational decisions were undertaken by a buyer. The Indian retail industry holds over 10% of the gross domestic product of the country. The findings reveal a genesis of rationality and non-rationality. It explores the antecedents and epistemology of non-rational purchases from the economic perspective. Parametric statistical tools were employed to test the stated hypothesis. The outcome of the study may reveal methods to marketers for pushing products. On the contrary an important research query emerges, whether the seeing and buying nature in consumerism, will burden any economy?

Keywords: apparels; brand; retail industry; non-rationality; situational-factors; buying-behaviour; decision; economy; volatility; uncertainty; complexity and ambiguity; VUCA; India. (search for similar items in EconPapers)
Date: 2023
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