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Purchasing Decision Factors in Food Retail Among Russian Students

Student: Razumov Ilya

Supervisor: Elena Korchagina

Faculty: St.Petersburg School of Economics and Management

Educational Programme: Management (Bachelor)

Year of Graduation: 2020

Nowadays, the food market is undergoing great changes and one of the driving forces is the emergence of a new generation, a generation of millennials, whose behavioral habits, values and worldview differ markedly from previous generations. This generation in the near future will form the basis of the economy and will be the main consumers, which shows the importance and importance of studying this group of consumers. The aim of the study is to study the behavior of the late millennials, namely student youth in grocery retail stores, which is entering adulthood and whose behavioral attitudes are undergoing major changes. The decision to purchase food is determined by a large number of factors, which makes consumer behavior difficult to analyze. This study examines the factors that influence the purchasing decision in grocery retail stores and offers opportunities for future research. The factors that are studied are divided into internal and external. External factors include the opinions of friends and family members, as well as the product label containing information on the composition of the product. The internal factors highlight the gender and lifestyle of the consumer. The study used a quantitative method of collecting information, namely a survey. According to the survey, it was found that the opinion of well-known people, such as family and friends, was highly valued among more than half of the respondents, both among men and women. Female respondents pay more attention to the product label, including the composition of the product, and are more informed when choosing products, in contrast to male respondents. Differences in lifestyle, namely the availability of work in addition to studying, do not affect the choice of products, namely, the tendency to purchase instant products and ready-made meals. Most respondents prefer to go grocery shopping on their own (offline), and practically do not use online food delivery services at home. These findings should help marketers, retailers and grocery companies whose products are presented in retail stores to better understand this audience in order to determine which approach should be applied to them and how to build their marketing strategy to satisfy consumers and have a competitive advantage in the future in the food market.

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