Application of Factor Analysis to Identify the Factors affect the Apparel Purchase Decision of Indian Customer

Abstract

Staying up to date on the current market trends, meeting customer requirements and having knowledge of strategies and offerings of competitor brands is extremely crucial for a brand to survive in today’s competitive world. With globalization, consumers have myriad choice and are extremely selective while making purchase decisions. With various apparel giants witnessing high fluctuations in their performance in the past few years it is evident that the market changes over time but the only this constant is customer’s quest for quality product. To find out the factors affecting the Indian customer’s buying decision, a statistical factor analysis was carried out which uncovered five prominent factors that affected sales of a garment is arrived, namely FIT, Assortment, Perceived Value, Characteristics and Prolongation. All these five factors affecting sales were authenticated by the statistical Reliability Test.