Changing demographic data such as growing population, ethnic diversity, income, percentage of single parents and percentage of people living in metropolitan triggers four prospects—more food for growing population, more easy-to-prepare foods for single parent households, more variety of products for diversified people and more upgraded foods for individuals with higher incomes. (Umberger, Thilmany and Ziehl p9-13) Nowadays, consumers are changing their buying patterns to be online because of lower prices and available 24/7.
Consumer tastes can be different based on another demographic factor: age. For example, consumers under 35 years old are most likely to be interested in domestics (73.3%), lawn & garden (71.4%), stationery (66.7%), personal care appliances (65.5%) and glasses and dishware (60.0%). (Negley) And the willingness to switch brands also depends on the age groups—for instance, consumers over 50 years old have strongest loyalties. Jennifer Negley also claimed that the loyalties of consumers were falling down. It could be seen in groceries and canned food products which possessed 84% loyalty in 1993 and shifted to 73% in 1997.
Wal-Mart, the largest retailer in the world, is operating in the highly competitive retail industry in both local US market and international market. Wal-Mart Stores, Inc. is based in Bentonville, Arkansas, and comprises of four separate retail segments namely Wal-Mart Supercenters, Discount Stores, Neighborhood Markets, and SAM’S CLUB. As of January 31, 2010, the company operated 2,612 Supercenters ,891 Discount Stores, 153 Neighborhood Markets and 602 SAM'S CLUB warehouses and in the United States. ...Show more