Omnichannel retail refers to the integration of retail channels like stores, online, and mobile into a single, seamless customer experience. The emergence of new online channels has had a major ...impact on the retail industry over the past decade, and it is expected that the need to integrate different channels will transform the retail industry over the next decade. We conducted a four-stage Delphi study with eighteen retail experts to identify the key trends, major challenges, important technologies, and main customer touchpoints that will emerge in omnichannel retail in the next ten years. Using both qualitative and quantitative data analysis techniques, we first elicited open-ended predictions from experts, then transformed and consolidated these predictions into close-ended statements, to finally obtain expert ratings of these statements and analyze changes of expert ratings between two consecutive stages. Based on this approach we derived four broad themes of core insights: future competition in the retail industry will be based on holistic customer experiences; omnichannel retail requires the development of human capabilities and changes in the organizational mindset; physical stores will become key destinations for unique sensory shopping experiences; and omnichannel retail will improve operational productivity.
•A four-stage Delphi study on the future of omnichannel retail with 18 retail experts.•Identifies trends, challenges, important technologies, and main customer touchpoints.•Retailers need to create holistic consumer experiences and digitize physical stores.•Retailers also need to develop human capabilities and improve business operations.
Using a proprietary data set, we analyze the impact of the implementation of a "buy-online, pick-up-in-store" (BOPS) project. The implementation of this project is associated with a reduction in ...online sales and an increase in store sales and traffic. These results can be explained by two simultaneous phenomena: (1) additional store sales from customers who use the BOPS functionality and buy additional products in the stores (cross-selling effect) and (2) the shift of some customers from the online to the brick-and-mortar channel and the conversion of noncustomers into store customers (channel-shift effect). We explain these channel-shift patterns as an increase in "research online, purchase offline" behavior enabled by BOPS implementation, and we validate this explanation with evidence from the change of cart abandonment and conversion rates of the brick-and-mortar and online channels. We interpret these results in light of recent operations management literature that analyzes the impact of sharing inventory availability information. Our analysis illustrates the limitations of drawing conclusions about complex interventions using single-channel data.
This paper was accepted by Alok Gupta, special issue on business analytics
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•Emerging market retailers need to achieve customer-centric performance metrics.•Insights from relevant analytics are required to attain these performance metrics.•Strategy matrix ...identifies relevant analytics to achieve these performance metrics.•Firm-specific and macro-level conditions influence retailers’ analytics adoption.•The analytics adoption journey varies across emerging market retail formats.
In an environment with digital disruptions, retailers must adopt a customer-centric approach to survive and compete effectively. Retailers need to be agile and forward-looking in adopting the relevant analytics and performance metrics to bring a customer-centric approach across upstream and downstream activities in the retail value chain. However, retailers in emerging markets (EMs) need clarity on the specific analytics and performance metrics in the value chain that will enable them to transition from their current product-centric state to the desired customer-centric state. Employing a triangulation approach (i.e., literature review, marketplace evidence, and managerial interviews) in the fragmented retail landscape of EMs, this study provides an organizing framework that explains: (i) the need for a customer-centric approach across the retail value chain, (ii) the specific performance metrics that need to be adopted across upstream and downstream activities in the retail value chain to enable EM retailers to achieve their desired customer-centric state, and (iii) the role of analytics in providing insights to achieve these performance metrics and improving monetary and non-monetary firm performance outcomes. We also provide firm-specific and macro-level conditions that can influence the EM retailers’ adoption of relevant analytics and explain the different paths retail formats can follow to adopt analytics. We present a strategy matrix that enables retail managers to identify the appropriate analytics to be adopted at different retail value chain stages to achieve desired performance metrics. We also highlight future research opportunities in retailing in EMs.
The world of retailing has changed dramatically in the past decade. The advent of the online channel and new additional digital channels such as mobile channels and social media have changed retail ...business models, the execution of the retail mix, and shopper behavior. Whereas multi-channel was in vogue in the last decade in retailing, we now observe a move to so-called omni-channel retailing. Omni-channel retailing is taking a broader perspective on channels and how shoppers are influenced and move through channels in their search and buying process. We discuss this development conceptually and subsequently discuss existing research in this multi-channel retailing. We also introduce the articles in this special issue on multi-channel retailing and position these articles in the new omni-channel movement. We end with putting forward a research agenda to further guide future research in this area.
Global retail companies (“supermarkets”) have an increasing influence on developing countries, through foreign investments and/or through the imposition of their private standards. The impact on ...developing countries and poverty is often assessed as negative. In this paper we show the opposite, based on an analysis of primary data collected to measure the impact of supermarkets on small contract farmers in Madagascar, one of the poorest countries in the world. Almost 10,000 farmers in the Highlands of Madagascar produce vegetables for supermarkets in Europe. In this global supply chain, small farmers’ micro-contracts are combined with intensive farm assistance and supervision programs to fulfill complex quality requirements and phyto-sanitary standards of supermarkets. Small farmers that participate in these contracts have higher welfare, more income stability and shorter lean periods. We also find significant effects on improved technology adoption, better resource management and spillovers on the productivity of the staple crop rice. The small but emerging modern retail sector in Madagascar does not (yet) deliver these benefits as they do not (yet) request the same high standards for their supplies.
The Agency Model and MFN Clauses JOHNSON, JUSTIN P.
The Review of economic studies,
07/2017, Letnik:
84, Številka:
3 (300)
Journal Article
Recenzirano
I provide an analysis of vertical relations in markets with imperfect competition at both layers of the supply chain and where exchange is intermediated either with wholesale prices or ...revenue-sharing contracts. Revenue-sharing is extremely attractive to firms that are able to set the revenue shares but often makes the firms that set retail prices worse off. This is so whether revenue-sharing lowers or raises industry profits. These results are strengthened when a market moves from "the wholesale model" of sales to "the agency model" of sales, which results in retailers setting revenue shares and suppliers setting retail prices. I also show that retail price-parity restrictions raise industry prices. These results provide a potential explanation for why many online retailers have adopted the agency model and retail price-parity clauses.
"Johnson astutely reveals that franchises are not Borg-like assimilation machines, but, rather, complicated ecosystems within which creative workers strive to create compelling 'shared worlds.' This ...finely researched, breakthrough book is a must-read for anyone seeking a sophisticated understanding of the contemporary media industry." - Heather Hendershot, author ofWhat's Fair on the Air?: Cold War Right-Wing Broadcasting and the Public Interest While immediately recognizable throughout the U.S. and many other countries, media mainstays like X-Men, Star Trek, and Transformers achieved such familiarity through constant reincarnation. In each case, the initial success of a single product led to a long-term embrace of media franchising - a dynamic process in which media workers from different industrial positions shared in and reproduced familiar cultureacross television, film, comics, games, and merchandising. InMedia Franchising, Derek Johnson examines the corporate culture behind these production practices, as well as the collaborative and creative efforts involved in conceiving, sustaining, and sharing intellectual properties in media work worlds. Challengingconnotations of homogeneity, Johnson shows how the cultural and industrial logic of franchising has encouraged media industries to reimagine creativity as an opportunity for exchange among producers, licensees, and evenconsumers. Drawing on case studies and interviews with media producers, he reveals the meaningful identities, cultural hierarchies, and struggles for distinction that accompany collaboration within these production networks.Media Franchisingprovides a nuanced portrait of the collaborative cultural production embedded in both the media industries and our own daily lives.
Strong signals exist for a permanent restructuring of retailḍing, where traditional physical retailers may not fully recover. Such transformation will have vast implications for consumers, the ...industry, and society in general. This study explores U.S. consumers’ evaluations of these profound changes sometimes referred to as the ‘retail apocalypse.’ Two studies, a content analysis of reader comments in response to articles featuring reports on large-scale store closures, and structured online consumer interviews, provide insights into consumers’ perspectives. We include consumer-derived explanations for the decline in physical retail, and the growth of online shopping, as well as anticipated consequences for both, individual consumers and society in general, in a conceptual framework. We find many consumers lamenting the disappearance of physical retailers. Most expect negative consequences for themselves and society. However, many consumers also describe physical retailers as often unable to deliver on basic retail functions, and many are accepting of a future with very few physical stores. Based on these findings, we develop practical implications for the retail industry and public policy, as well as future research opportunities.
The book includes new theory, original empirical evidence, and applied case studies synthesizing advances in innovation and technology for the retail sector. Chapters identify the challenges ...retailers face in response to new practices, suggesting how the sector can respond to technological developments, ethical considerations and privacy issues.
With the rapid development of the Internet, many manufacturers nowadays are increasingly adopting a dual-channel to sell their products, i.e., the traditional retail channel and online direct ...channel. This paper examines the optimal decisions on retail services and prices in a centralized and a decentralized dual-channel supply chain using the two-stage optimization technique and Stackelberg game, and evaluates the impacts of retail services and the degree of customer loyalty to the retail channel on the manufacturer and retailer's pricing behaviors. The results show that retail services strongly influence the manufacturer and the retailer's pricing strategies. Numerical studies reveal that the ratio of demand relative increase and the degree of customer loyalty to the retail channel have great effects on the retail services and pricing decisions.
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