Understanding Value: A Consumer Perspective in UAE Retail Market

Abstract

The aim of this paper is to understand “value” for retail consumers in today’s economic environment, moreover to explore the meaning of “value” held for different demographic groups in the UAE retail market. This study is based on a questionnaire survey asking participants about their perspective on the term “value” and the factors related to it. Findings are drawn from 300 consumers within UAE. Respondents have different demographics, in terms of age, gender, employment status and nationality as the UAE population is highly diverse. Findings showed that price and quality are the most important factors in determining what value is, while Location of the retail shops and knowledgeable staff are the least important ones. 46% of respondents (consumers) are willing to spend more to get a specific brand name, as they believed that brand name is major determinant of product value.  However, in terms of price sensitivity, females, 18-30 age group, expats, and students ranked the highest. The economic downturn has slightly affected the selection criteria of consumers. Searching time doesn’t affect the value perceived by consumers. The contribution of the study lies in achieving a deeper understanding of the definition of value for academics, marketers and retail managers.