From Point of Sale to Point of Need: How Digital Technology Is Transforming Retailing

Werner Reinartz and Imschloß Monika ()
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Imschloß Monika: IFH Junior Professor of Marketing and Retailing, University of Cologne, Germany

NIM Marketing Intelligence Review, 2017, vol. 9, issue 1, 42-47

Abstract: Digital transformation has a strong impact on the retail industry. Activities that were once retail sector are moving to online stores, and specialized third parties are taking over physical distribution and payment. Naturally, store-based retailers are not taking this sitting down and many are reacting by starting to “digitalize” their point of sale. But in order to understand the true impact of digitalization and to react adequately, one needs to think backwards from the consumer and enter the scene at a much earlier stage. In our digital age, need occurrence, shopping and consumption are moving much closer in time and space and are being naturally integrated into our daily routine. If retailers still want their share, they have to build an ecosystem of presence and organize themselves around consumption and lived reality of their consumers. They have to be present in the mind of the consumer at the very instance a need arises. Being recalled in time matters now more than ever.

Keywords: Digitalization; POS; Retailing; Ambient Shopping; Customer Need (search for similar items in EconPapers)
Date: 2017
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Persistent link: https://EconPapers.repec.org/RePEc:vrs:gfkmir:v:9:y:2017:i:1:p:42-47:n:7

DOI: 10.1515/gfkmir-2017-0007

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