Question

write short essay about the description of Consumer and Analysis of Consumer Behavior in walmart

Answer 1

Walmart is the largest retail company for discounted goods which operates in 27 countries. It was established by sam Walton in 1960s. Retail stores provide lowest pricing and wide variety of goods to consumers that keeps it ahead of it's competitors. It's stores consists of goods such as electronic shop, grocery , clothes, baby product, health and beauty services, pharmacy, furniture etc.

Every week almost 265 million customers visit Walmart in 11500 stores across the world. Walmart has 2.2 million employees. It's fiscal year revenue $ 524 billion in 2020. Walmart average customer is 46 year old white and they have annual income of around $76000 . Walmart do not target wealthy people but they target middle class and lower middle class . Some have higher income than upper middle class.

Motto of Walmart is "save money, live better". Main organizational behaviour of Walmart is teamwork, communication, advertising, pricing of goods among other stores, decision making etc. Consumer decision making while purchasing in Walmart consist of 5 stages.

Need recognition :- while purchasing goods consumer will see why they need those goods or services , purpose of the goods and then he will move to next step.

Search information :- consumer will search for relevant information in the package they wish to have in their desired product.

Evaluation of awareness :- now customer will analysis about whether the product is easily available, expiry date, quality, price, brand etc.

Choice :- consumer will choose those product that will have all specification mentioned above.

Post choice evaluation :- this comes after consumer buys the product. It consist of product use, disposition, evaluation and repeat purchase motivation . Consumer will again visit store if all of his needs and wants is fulfilled by the product.