The customer perceived value of supermarkets:

Customer perceived value (CPV) is the difference between the prospective customer’s evaluation of all the benefits and all the costs of an offering and the perceived alternatives (Kotler, 2003). Customers will buy from the firm that they see as offering the highest perceived value. There are various benefits that a person receives and he sacrifices something in order to achieve that. The first table takes in the interests received and sacrifices made while shopping at supermarkets.

Benefits of visiting supermarkets | Sacrifices of visiting Supermarkets | Convenience/Accessibility
-Extensive range of products and services-Ample amount of stores present-24x7-Mobile apps, discounts and freebies-Smooth access to pedestrians and vehicles | Monetary-Cost of buying the goods-Cost of going to the supermarket | Monetary

-Economical Prices-Coupons and discounts-Saving schemes | Effort

-Time taken to travel to the supermarket-Queueing and locating the product | Quality
-Large brands have certain quality standards before being imported.
-Goods have certain quality standards approved by the ministry | Health-Products may cause a hazard to people while consuming-Stress in queueing-Products might contain harmful contents | Social-Sense of pride while buying branded goods.-Benefits the person’s psychology for shopping at big brands | Social-Psychology of people shopping at cheaper stores | Opportunity-Ease of accessibility-Small stores | Opportunity-Lack of variety-Lack of wide range of products |

Day by day consumers are demanding more goods and better convenience from supermarkets in terms of service (Voss et al, 2007). Supermarkets provide convenience in many ways. They offer wide variety of goods and services under just one roof. E.g.- Household, bakery, fresh vegetables etc. (Trivedi et al, 2008). The