Gender-based differences in consumer decision-making styles: implications for marketers
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RESEARCH ARTICLE
Gender-based differences in consumer decision-making styles: implications for marketers Ritu Mehta
Indian Institute of Management Calcutta 2020
Abstract Gender-based segmentation is frequently used by marketers to cater to different needs and preferences of men and women. However, the literature in consumer behaviour has not explored enough the role of gender in decision-making. Specifically, there are hardly any studies that investigate the decision-making styles of Indian male and female consumers. Based on gender and sociocultural theories, this study develops and tests hypotheses on gender-based differences in decision-making styles, including hedonism, novelty consciousness, price value consciousness and brand loyalty orientation. Analysis of data obtained from 355 male and 203 female students through self-administered questionnaire indicates that women score higher than men on hedonism, novelty orientation and price value consciousness. No significant difference was found on the dimension of brand loyalty. The study contributes to the consumer behaviour research by highlighting the differences in decision-making styles of Indian millennial men and women. The results can help marketers to employ gender-based segmentation and target more effectively. The study provides insights that firms can use in framing product, pricing and communication strategies catering to the requirements of a specific gender.
R. Mehta (&) Marketing Group, Indian Institute of Management Calcutta, Kolkata 700104, India e-mail: [email protected]
Keywords Gender Marketing Consumer decision-making styles Shopping orientation India
Introduction India has emerged as one of the world’s fastest growing economies over the last few years (IBEF 2019). The country contributed 15% towards global growth for fiscal year 2017–2018 (IMF 2018). While World Bank projects a gloomy picture of the world economy for the coming years, it expects India to continue its stint as the fastest growing major economy with GDP exceeding 7% in 2018–2019 as well as for the next 2 years, ahead of China also which is expected to clock GDP growth little exceeding 6% over the next 3 years beginning 2018–2019 (OECD 2018). Moreover, India, home to 1.3bn people, accounts for more than one-sixth of the world population. With a burgeoning middle class, consistently high economic growth, along with liberalization of foreign direct investment (FDI) in single- and multi-brand retail, India is on the radar of leading retailers worldwide. The US global management consulting firm AT Kearney has consistently ranked India amongst the most attractive nations for retail investment in its Global Retail Development Index (GRDI), with India topping the list in 2017. India along with China and the USA is predicted to be the top three economic powers
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of the world over the next 10–15 years (IBEF 2019). According to an estimate by Federation of Indian Chambers of Commerce and Industry (FICCI), India’s retail market was valued at US$ 435bn in
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