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The Role of Physical Stores in the Digital Age

Author : Jason Chan

Publisher :

Page : 0 pages

File Size : 12,19 MB

Release : 2021

Category :

ISBN :

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Book Description

With increasing ecommerce penetration, it is believed that consumers are spending more shopping time online and away from physical stores. This brings to question the role of physical stores in an increasingly digitized landscape and whether they remain relevant. The measurement of the impact of physical stores has been characterized by the difficulty of attributing the increase in online sales to customers seeing and experiencing products showcased in physical stores, as this information is not typically observed and captured. Should physical stores remain valuable in the digital age, which products should be showcased in stores? In this study, we attempt to shed light on these questions using a quasi-experiment, taking place through a nationwide retailer that expanded its physical presence during the study period. This work distinguishes from past studies in that it studies purchasing behavior in the underexplored Chinese market. Through a ``triple-differences'' framework, we provide a more direct evidence on the effect of the physical channel on online sales outcomes. We find that online sales for products showcased in physical stores increase for both high and low involvement products, suggesting that two possible mechanisms are at work in driving the online sales of showcased products.



Resurrecting Retail

Author : Doug Stephens

Publisher : Figure 1 Publishing

Page : 274 pages

File Size : 12,72 MB

Release : 2021-04-13

Category : Business & Economics

ISBN : 177327144X

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Book Description

Few crises in modern history have so completely disrupted every aspect of daily life as has the Covid-19 pandemic. What began as a small medical ripple in Wuhan, China, a city many of us had never heard of, quickly erupted into a tsunami of epic proportions. Every market, industry, vertical, profession, service, and category of product was in some way rocked by its impact. And, for the first time in recorded history, every wheel, cog and gear in the global retail industry ground to a virtual halt. From two-time, international best-selling author and futurist Doug Stephens, Resurrecting Retail is not just a riveting story of the unprecedented crash of an industry during this time of crisis but a roadmap for its rebirth. Meticulously researched in real time from inside the crisis, Resurrecting Retail provides a comprehensive and surprising vision of how Covid-19 will reshape every aspect of consumer life, including the very essence of why we shop.



Exploring Omnichannel Retailing

Author : Wojciech Piotrowicz

Publisher : Springer

Page : 292 pages

File Size : 18,26 MB

Release : 2018-12-05

Category : Business & Economics

ISBN : 3319982737

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Book Description

This book compiles the current state of knowledge on omnichannel retailing, a new concept in which all sales and interaction channels are considered together, and which aims to deliver a seamless customer experience regardless of the channel. It highlights case studies and examples related to each of the many barriers to an omnichannel approach, demonstrating not just success stories, but also failures. While omnichannel has already been recognized as an emerging retail trend, the articles in this book fill an important gap in research on the topic. Providing readers with essential insights on the omnichannel strategy and its implementation, the book will also stimulate academic discussion on this emerging trend.



Redefining Retail

Author : Philip Kotler

Publisher : John Wiley & Sons

Page : 407 pages

File Size : 17,17 MB

Release : 2024-02-27

Category : Business & Economics

ISBN : 1394204701

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Book Description

Discover the new realities of working in the post-digital era of consumer brand and retail marketing. In Redefining Retail: 10 Guiding Principles for a Post-Digital World, renowned international marketers Prof. Philip Kotler and Dr. Giuseppe Stigliano deliver a timely and insightful examination of retail and consumer brand marketing. In the book, you’ll find practical and concrete techniques for redefining your organisation’s internal operations and processes, as well as its business strategy. You’ll rethink the entire value chain as you consider the growing importance of sustainability, diversity and inclusion, working policies, and more. The authors describe ten critical principles that should guide the actions of your company, whether you work with a startup, an SME, or a large, established organization. They also discuss: The main challenges retailers face in a world that’s been fundamentally transformed by the digital revolution. How to future-proof your marketing strategy, including 10 guiding principles for a new customer experience at retailers and consumer brands. The opportunities and threats of creating a seamless customer journey in the physical, digital, and virtual realms. Perfect for managers, entrepreneurs, consultants, and investors in both the B2B and B2C sectors, Redefining Retail: 10 Guiding Principles for a Post-Digital World will also prove invaluable to students of management, marketing and business administration, as well as anyone with an interest in the evolution of commerce.



Books in the Digital Age

Author : John B. Thompson

Publisher : John Wiley & Sons

Page : 411 pages

File Size : 40,37 MB

Release : 2013-10-21

Category : Social Science

ISBN : 0745684998

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Book Description

The book publishing industry is going through a period of profound and turbulent change brought about in part by the digital revolution. What is the role of the book in an age preoccupied with computers and the internet? How has the book publishing industry been transformed by the economic and technological upheavals of recent years, and how is it likely to change in the future? This is the first major study of the book publishing industry in Britain and the United States for more than two decades. Thompson focuses on academic and higher education publishing and analyses the evolution of these sectors from 1980 to the present. He shows that each sector is characterized by its own distinctive ‘logic’ or dynamic of change, and that by reconstructing this logic we can understand the problems, challenges and opportunities faced by publishing firms today. He also shows that the digital revolution has had, and continues to have, a profound impact on the book publishing business, although the real impact of this revolution has little to do with the ebook scenarios imagined by many commentators. Books in the Digital Age will become a standard work on the publishing industry at the beginning of the 21st century. It will be of great interest to students taking courses in the sociology of culture, media and cultural studies, and publishing. It will also be of great value to professionals in the publishing industry, educators and policy makers, and to anyone interested in books and their future.



Remarkable Retail

Author : Steve Dennis

Publisher : LifeTree Media

Page : 322 pages

File Size : 40,89 MB

Release : 2021-04-13

Category : Business & Economics

ISBN : 1928055931

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Book Description

Physical retail isn’t dead—but boring retail is! Remarkable Retail equips the savvy retailer with eight essential strategies to thrive in an increasingly volatile and uncertain future. Digital technology has profoundly altered the competitive landscape for retailers. In Remarkable Retail, industry thought leader Steve Dennis argues that in a world of nearly infinite choice, where the lines between digital and physical are increasingly blurred, even being very good is no longer good enough. To win and keep customers today, retailers must be nothing short of remarkable. In most retail categories, digital channels are often central to the consumer’s journey, but that doesn’t mean people aren’t also shopping in stores; they’re just using them differently, often browsing in one channel and buying in the other. The notion of a physical store channel and an ecommerce channel is increasingly a distinction without a difference; the customer is the channel. The future belongs to those who embrace the blur of digital and physical that represents modern retail today and work to deliver an experience that is more harmonized and more memorable, regardless of how consumers decide to shop. Packed with illuminating case studies from some of modern retail’s biggest success stories—and leveraging Dennis’s more than thirty years as a senior executive and strategic consultant to dozens of brands—Remarkable Retail lays out the case for going beyond a slightly better version of mediocre and forging a path to being truly remarkable. To help retailers on this transformation journey, Dennis presents eight essential strategies for visionary leaders who are prepared to reimagine their way of doing business. A remarkable retailer is digitally enabled, human-centered, harmonized, mobile, personal, connected, memorable, and radical. In an age where consumers have short attention spans, myriad options, and a digitally integrated relationship with every brand, Remarkable Retail is your indispensable guide to creating a powerful retail experience that keeps your customers coming back for more.



Reshaping Retail

Author : Stefan Niemeier

Publisher : John Wiley & Sons

Page : 208 pages

File Size : 50,78 MB

Release : 2013-06-06

Category : Business & Economics

ISBN : 1118698886

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Book Description

The modern retail system has worked to dazzling effect. From the 19th century, store owners emerged from small beginnings to set in train an industry that has seen some operators become nationally, even globally, dominant. Along the way, they turned retailing into an art, and then a science. Now retailers in emerging markets appear to be repeating the story all over again, except on a scale and at a speed beyond anything we have seen before. Given all of this, it can be hard for those who work in retailing to accept that the industry as we know it is living on borrowed time, on the brink of transformation. There is now an urgency with which conventional store-based retailers must now act and the extent of the challenges this change represents in strategic, organizational, and above all, technological terms. Reshaping Retail sets out the driving causes, current trends and consequences of a transformation in retail triggered by technology. The changes go far beyond making items available for sale on the internet. Starting by briefly setting the historical and business system contexts for retail and describe the role that technology has played in the creation of modern retail it then explains the underlying technological drivers behind the current revolution – radical changes in the capacity of both hardware and software, mobile telecommunications changes and the advances of the Internet. Ultimately, success will hinge on more than competence; it will come down to a way of thinking. Customer-centricity will need to be valued not just by the store owner, as in the past, but also by all employees in the organization. It will need to become embedded in their daily tasks. The same applies to technology, which must be at the center of the organization and recognized as such by everyone. With a combination of extensive desk and field research, interviews with leading retailers and technologists, together with the real world experience of practitioners in this area, Reshaping Retail will inspire and help store retailers to make the necessary transformation now to win in the new consumer driven world.



Navigating the New Retail Landscape

Author : Alan Treadgold

Publisher : Oxford University Press

Page : 304 pages

File Size : 49,38 MB

Release : 2020-11-26

Category : Business & Economics

ISBN : 0192639404

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Book Description

The global retail industry is in the early stages of an era of profound and unprecedented, change. This book is intended to serve as a wide-ranging, robust, and practical guide to leaders of enterprises tasked with both understanding and delivering success in the new landscape of retailing. Part 1 describes the major directions and drivers of change that define the new retail landscape. Accelerating changes in technology, the rise to international prominence of internet enabled shoppers, and the rapid emergence of entirely new retail enterprises and business models are combining to re-shape the very fundamentals of the retail industry. No longer are shops central or even necessary to the business of retailing. No longer is choice for the shopper limited to the neighbourhood, town, or even country in which they live. No longer is the act of retailing solely the preserve of traditional retail enterprises as internet-enabled businesses, technology, logistics, suppliers, and financial services enterprises all seek direct relationships with the shopper. The new landscape of retailing is an unforgiving one. Success can be achieved more quickly than ever before, but failure is equally rapid. New opportunities are profound, but so too are the challenges. Part 2 of this book discusses the structures, skills, and capabilities that retail enterprises and their leaders will need if they are to be successful. This second edition presents more than 25 detailed case studies of innovative and successful enterprises alongside more than one hundred smaller examples to illustrate the themes discussed. A new afterword also presents ten central areas business leaders must focus on in order to build organizational resilienc in the wake of COVID-19 and the profound uncertainties retail enterprises now face. Frameworks and practical guidance are offered to help readers contextualise the nature of change occurring on a global scale, and identify the capabilities, skills, and perspectives that will be needed at both an enterprise and a personal leadership level.



The Future of Global Retail

Author : Winter Nie

Publisher : Routledge

Page : 250 pages

File Size : 30,36 MB

Release : 2021-09-26

Category : Business & Economics

ISBN : 1000435679

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Book Description

China’s new retail revolution will completely transform how the world thinks about retail and digital innovation. But is the world ready yet? In this book, the authors share an insider’s perspective on what is happening in China to reveal the future for global retail, and a clear framework to help you prepare. The book presents a number of real-world cases, based on interviews and first-hand consumer experience, to decode China’s retail revolution so that you can understand what is happening and why, and what it means for the rest of the world. Crucially, the book identifies five critical stages in the development of new retail that global retail executives need to grasp now: lifestyle commerce, Online-Merge-Offline retail, social retail, livestream retail and invisible retail. To help the industry get ready for this new, China-inspired paradigm in retail, the authors present a practical and simple framework – a ten-year strategic roadmap for global retail executives, which we call the “Beyond” the Value Chain Model. China’s new retail is not just about fashion, cosmetics, snacks, data-driven convenient stores and commercial live streaming. At a time when the world of retail is being upended, it offers inspirational lessons in innovation, purpose and agility for global executives across the entire retail spectrum.



Physical Stores in the Digital Age

Author : Gonca Soysal

Publisher :

Page : 41 pages

File Size : 40,95 MB

Release : 2019

Category :

ISBN :

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Book Description

In this paper we investigate how consumers derive value from having the option to use physical stores for their transactions focusing on the DVD rental market. We use a large individual and transaction level panel dataset including information from consumers who subscribed to an online-offline video rental service from a leading company that closed a large number of physical store locations during our study period. Our empirical approach is to estimate a conditional logistic panel data model quantifying the extent to which offline store closures induced individuals to terminate their subscriptions with our focal company. We further examine how physical store closures affected consumers' churn decisions differently for individuals who either heavily or lightly used physical stores for their transactions. Our results show that the closure of a physical store in a zip code increased the churn rate by approximately 50% for heavy users of physical stores and that the increase in the churn rate was essentially zero for light users. Our findings thus show that physical stores substantially increase loyalty for a fraction of consumers, and that there is substantial heterogeneity across consumers regarding how much utility they derive from having the option of using physical stores for their transactions. Our results provide a critical ingredient that managers need to have when formulating their online-offline channel operations strategies.