Retailers’ Reinvention in Harmony with the Shopping Tendencies
Romanian Distribution Committee Magazine, 2019, vol. 10, issue 2, 36-46
Challenged to build high value retail experiences, retailers are investing accordingly, struggling to better understand customers’ context and offer them a true Omni channel experience, developing POS capabilities and becoming more technology-enabled. It is interesting to note within this context the impact of Amazon’s involvement in U.S. grocery ecommerce’s fierce competition with Walmart, Kroger etc., a competition which stimulates the innovation. New research confirmed that: BOPIS is considered the most valuable aspect of the retail shopping experience, and that reputed retailers are planning for leveraging BOPIS, which ensure clear benefits for both customers and retailers, and can be enabled with the help of an adequate AI-powered personalization engine integrated with the in-store customer engagement analytics; retailers need to prepare for the impact of automation and AI technologies across all core functions, taking into account the workforce implications and the shopping tendencies defined by generational gaps, the shopper behavior being reinvented by the digital revolution. All this evolution also reconfirmed that the next-generation retail merchandising will be driven by analytics and digital, organizational enablers being essential in this retailers’ approach.
Keywords: Experiential Retailing; Business Models’ Transformation; Next-Generation Point of Sale; Technology-Enabled Revolution in CX and Efficiency; Shopping Tendencies (search for similar items in EconPapers)
JEL-codes: L81 L86 M31 Q55 (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:rdc:journl:v:10:y:2019:i:2:p:36-46
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