Correlation between sales and renovation of the stores

Abstract

The report is based on the survey conducted, with the sample size customers of Apex Footwear LTD. residing in Dhaka city. The main motive was to analyze and interpret the data to find if there was any factors of the Store design and the need to renovate related to Consumer Purchasing Behavior to drive the sales. From the gathered data from survey it was found that factors of store outlay like ventilation or air conditioning, free flowing walking space, sitting area or trail rooms and signage, have a direct correlation with the consumer buying behavior. If the consumers do not have adequate number of these elements, it may affect their purchasing decision which in return could potentially reduce sales. Additionally, factors like music played in the background, decoration of store for festivals and interior designing also affect the buying patterns. However, these factors vary with an individual’s taste or likings as well as demographic factors such as gender, age and(/or) income. Apart from these, there were statements that were collectively analyzed where the visual appeal of the exterior of the store such as window display, store front, danglers hanging from ceiling and the entrance and exit doors played an important role. Even if consumers do not put into much thought, but this attracts and leaves a mark in hindsight. Other factors like efficiently using the floor or the space in a store to best display the range of products, which products to place, how and where to place it can change the game for retail business. Lastly, the not strongly branding the 14 brands carried by Apex as well as not having consistency nor uniformity in the styling of the brand Apex, as a footwear brand across all their retail stores show they have a lot of room to thrive, if they use an integrated taskforce with the help of the Visual Merchandising team and the Marketing team.