Analysis of Hedonic and Utilitarian Consumer Values Affecting the Retail Store Image in India

Umesh Ramchandra Raut () and Prafulla Arjun Pawar ()
Additional contact information
Umesh Ramchandra Raut: Savitribai Phule Pune University
Prafulla Arjun Pawar: Savitribai Phule Pune University

Tržište/Market, 2023, vol. 35, issue 2, 129-143

Abstract: Purpose – Retailers continuously focus on enhancing their success in the area of consumer values. The retail industry has experienced enormous structural and technological development, with hedonic and utilitarian values becoming imperative nowadays. Consumers are always seeking the fulfillment of hedonic and utilitarian values in a retail store. The objective of the present research study was to test the dimensionality, validity, and reliability of the measures of hedonic and utilitarian values among retail consumers. In addition, the study was aimed at understanding the role of consumers’ hedonic and utilitarian values with respect to the retail store image. Design/Methodology/Approach – Expert Opinions (EO), Focus Group Discussions (FGD), Confirmatory Factor Analysis (CFA) and path model analysis were used to achieve the objectives of the study. Findings and Implications – The results of the study offer significant implications for retailers. The study’s findings elucidate the 13 observed items by relating them to hedonic values, utilitarian values, and retail store image. The impact of hedonic and utilitarian values on retail store image was confirmed. Validity and reliability statistics were also used to confirm hedonic values, utilitarian values, and retail store image. Limitation – Limitations of the study include the cross-sectional nature of the research and skewed sample size towards the younger population. The study’s focus on retail store image may lead to a misperception of the respondents due to the store image created in the minds of consumers. Originality – The study provides statistically validated and reliable measures of hedonic and utilitarian consumer values, and retail store image in the Indian retail context. In addition, it helps in providing retailers with a platform to develop strategies that take into account their consumers’ hedonic and utilitarian values. The study demonstrates the significance of hedonic and utilitarian consumer values in the context of retail store image.

Keywords: retail; hedonic values; utilitarian values; retail store image (search for similar items in EconPapers)
Date: 2023
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://hrcak.srce.hr/file/452128 (application/pdf)
None

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:zag:market:v:35:y:2023:i:2:p:129-143

Ordering information: This journal article can be ordered from
Tržište/Market, Faculty of Economics and Business, Trg J. F. Kennedy 6, 10000 Zagreb, Croatia.
http://www.efzg.unizg.hr/trziste

Access Statistics for this article

Tržište/Market is currently edited by Đurđana Ozretić Došen

More articles in Tržište/Market from Faculty of Economics and Business, University of Zagreb Contact information at EDIRC.
Bibliographic data for series maintained by Tanja Komarac ( this e-mail address is bad, please contact ).