P3: Explain how developments in the consumer market have impacted on food retailing

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P3: Explain how developments in the consumers market have impacted on food retailing

Developments in the consumer market

Radical developments in the consumer market

In the online dictionary radical refers to changes that have immediately occurred like a mutation or even changes in trends in society, in recent years relating it to business radical change has occurred in on online shopping where it has become a lot more acceptable, where many business including Tesco has released a click and collect service so that they can meet these changes to “stay on top of their game”. Other radical changes include changes that have occurred when there is a change that has occurred in products that are acceptable for instance product that are like food for instance chocolates  are now acceptable to eat a breakfast, lunch, dinner, tea and supper so demand has increased in these specific products so business needs to meet these demands.  Radical changes have affected superstores in terms of the 4 large super markets, which are Tesco, Asda, Morrisons and Sainsbury’s. The food retailers have adapted to meet developments by installing self-scan checkouts to reduce queues in stores, this new type of technology that supermarkets have invested in to keep their customers happy, by reducing the time standing in queues. They also have websites where their customers can view the products and services they require to make it easier for their customers and more convenient.

Continuing changes in the consumer market

Continuing changes are about the changes that are continually happening this can be influenced by fashions, trends and awareness. A continuing change refers to a trend that is customers want value for money, because of the tight budgets that they have so they wish to save money wish is now sociable acceptable, businesses do this so that their shopping experience is more pleasant online or in store.

Customer expectations in the consumer market  

Consumer expectation generally refers to the needs and wants. Consumers may also have high expectations for new products that have been given a lot of exposure. Consumers can be broken down into three groups: those who are expected to buy, those who are not expected to buy, and those who are undecided about making a purchase. What customers think and feel about a company and/or its products is a key aspect of business success also. Customer expectations and demand must be met if a business will want their customers to return and purchase from their business again. They must guarantee their demands and expectations are met in order to gain customer loyalty and enhance relationship with their consumers.

Changing social and working patterns

Changes in social and environment include changes like working patterns that have occurred for instance more people are concerned about their health where they want to live healthier life style, Supermarkets for example Tesco’s can find information about what information they need through the club card system, where they pick up new trend that are occurring in society and there is now a variety of different food ranges depending on how different people live their lives. Also some stores now remain open for 24 hours to work around every working people’s hours.

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Affluence is how much money a person earns in a household. This is central to the food industry because the higher the persons income they higher quality they will purchase and vice versa. People can have high levels of affluence and low levels of affluence for example people have high affluence on new ranges like Tesco finest. Depending on the income people get in their household, can influence the food industry in terms of them providing their customers with products that they are able to afford for those who have a low income. However people who ...

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