Exploration of perceived value in shopping centres targeting low and high socio-economic customers

Abstract

The research of perceived value is a topic of interest in the marketing management of shopping centers that requires a deeper understanding from a market segmentation perspective. In this regard, a research study was conducted to compare the perceived value of two shopping centers targeting two customer profiles of low and high socioeconomic status (SES). The research employed an exploratory approach, consisting of 12 focus group sessions and a results matrix based on value dimensions reported in previous literature. The findings suggest that low SES consumers are more oriented toward functionality and practicality in their purchasing decisions, such as accessibility to banking services or specific stores, and price convenience. In contrast, high SES consumers seek a more comprehensive experience that includes both utilitarian and hedonic elements, such as the availability of entertainment and leisure spaces, the opportunity to explore various offerings, and favorable environmental design. The findings are discussed in terms of how both groups show interest in both utilitarian and hedonic aspects, recognizing that hedonic value may represent different circumstances depending on socioeconomic status.