Samenvatting

This chapter will give the reader a clear overview of the whole graduation assignment. The problem situation, applied theory, research, conclusion and advice are summarized into a cohesive and coherent piece of text in the following part. Retailers of small fashion stores are facing huge competition of large big box stores. This could lead to the disappearance of the small retailer. However, the question is raised in this graduation assignment whether the consumers do prefer to go to a large fashion chain instead of a small fashion retail store. The emphasis is put on the consumer decision making process in selecting store size. Also, the research in this graduation assignment will present the factors influencing the decision making process in selecting a store. The consumer has been changed over the years and has become more enlightened and empowered. By means of this the consumer created higher expectations of stores and products. Still, a consumer is presented with numerous options of stores to choose from in the retail market. It has been concluded by research that the most important factors which influence the consumer decision making process in store selection are: (1) Location and Environment; (2) Price; (3) Quality; (4) Assortment and Brands; (5) Shopping Experience; (6) Professionalism; (7) Opening hours and Accessibility. Furthermore a distinction is made between small and large retail stores. Four store types were chosen to represent the large retail stores: Fast Fashion Chain, department store, women's and men's wear store, and brand store. Also the small retailers were given four different types: an unfamiliar store, a boutique (specialized small fashion store), a unique store with multiple brands, and an independent entrepreneur. These eight types of retail stores were created in order to give the respondents of the research a better understanding what a small and large retail store is. Determining these 7 factors, also known as store attributes, the research was conducted. A quantitative research by means of an online survey was filled out by a total of 161 respondents. The online survey consisted of 18 questions which were related to the consumer decision making with the emphasis on store attributes and large and small retail stores. My research indicated that the majority of the respondents finds price, quality and assortment and brands the three most important factors when selecting a store. Also, it could be concluded that in my research it has been proven that the majority claims to buy clothing at a large retail store (Fast Fashion Chain). However, this is not the answer to the question whether consumers rather purchase at large or small fashion stores. Furthermore, the conclusion is drawn that the research question cannot be answered by means of this research due to a lack of data from the respondents and limitations to my research. It could be concluded that that the majority of the respondents believe to find more professional and motivated staff in a smaller store. The greater part of the respondents think that they will have more choice in a large fashion chain. Also, the majority of the respondents consider to be able to find more unique items in a small (independent)fashion store. These outcomes were derived from 3 statements in the online survey. The respondents had to answer by means of the Likert scale which indicates the level of agreement or disagreement. The advice given to the fashion retail environment is to understand the consumers' thinking and to anticipate on the perceptions and needs of the consumers. By means of marketing strategies based on the consumer the fashion retail market will be able to retain and broaden the range of customers in a store. In order to do this, small and large stores will need to invest in consumer research. Retailers need to develop an understanding of the consumer behavior due to the ongoing changes in the retail environment. Moreover, I clearly advice the retail stores that, because my research proved that price, quality and assortment and brands are the most important store attributes in the selection process, they need to be focused on these three store attributes. The store attributes could differentiate the large and small fashion stores from their competition. Although, I also highlight that the store attributes could also be interpreted as negatively by some consumers. Another store attribute which is introduced and explained in this graduation assignment is anonymity. My research turned out that anonymity is the most important difference between large fashion retail stores and small fashion retail stores. Finally, I dedicate my last recommendation to the small fashion retail stores as these store types are facing heavy competition from the large retail stores. My recommendation to the small retail store environment is to unite. When the small retailers unite to bundle their experience I believe bigger problems could be tackled.