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2019 | Book

Introduction Read chapter Read first chapter

Smart Retailing

Technologies and Strategies

Authors: Eleonora Pantano, Charles Dennis

Publisher: Springer International Publishing

Part of: Springer Professional "Wirtschaft+Technik" , Springer Professional "Wirtschaft"

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About this book

By providing a comprehensive theoretical framework, this book aims to map the most relevant technologies that have the potential to reshape the retail industry. The authors demonstrate how technology is pushing innovation, and examine how smart technologies can be fruitfully applied both in-store and through digital channels. The aim of the book is to synthesise theory and practice, and provide a richer understanding of new digital opportunities offered by the ‘smart’ experience. An accessible resource for researchers who want to understand this phenomenon as part of their expertise in digital marketing and e-commerce, Smart Retailing also provides insights for practitioners who are experiencing the dramatic effects of new technologies on their retail strategies.

Table of Contents

Frontmatter
1. Introduction
Abstract
From the movies imagining future stores (e.g. Minority Report, 2001) to the actual technology-enriched stores (e.g. the Spanish fast fashion brand Zara offering many different technologies to support shopping), scientific research has largely tried to predict how the future store might look, and the extent to which the technology is integrated within the atmospherics and layout. This chapter proposes an introduction to the technology for retailing, with emphasis on the advantages for both consumer and retailer, in order to provide a comprehensive overview of the actual scenario.
Eleonora Pantano, Charles Dennis
2. Technological Background
Abstract
Technology is becoming part of retail settings, by enhancing consumers’ experience with new exciting and attractive elements. Thus, the technology can be successfully integrated within the physical point of sale, outside the point of sale through interactive storefront windows or becoming more ubiquitous through mobile devices acting as interactive pervasive shopping assistants (anytime and anywhere). This chapter will outline these different technologies and illustrate how retailers have actually integrated within their strategies with different examples.
Eleonora Pantano, Charles Dennis
3. Retail As an Innovative Sector
Abstract
Retailing is continuously affected by the constant progresses in technology. However, the huge availability of supporting technology does not imply an understanding of retailing as an innovative sector. This chapter analyzes in detail the innovation push force, in terms of inventive effort and patented innovations that characterize the sector as an innovation-oriented one, by also describing the key areas of development and predicting the possible future trends.
Eleonora Pantano, Charles Dennis
4. A Smart Retailing Model
Abstract
Where does smart retailing come from? Why is it important for retail management? This chapter aims at replying to these questions by describing the emergence of the phenomenon of “smart retailing” as part of the broader concept of “smart city”, and how some technologies and their smart usage might characterize smart retail in order to improve the quality of consumers’ shopping experience and retailers’ role in the actual service economy. Finally, the chapter analyzes the benefits and challenges emerging from the smart retailing approach and explores how retailers can develop a smart retail strategy.
Eleonora Pantano, Charles Dennis
5. Luxury Retailing As a Smart (Sub)Sector
Abstract
The characteristics of luxury retailing (including the financial resources required and the need to provide superior experiences and exclusivity to consumers) make this sector subject to innovative forces, as is retail in general. This chapter introduces recent research evaluating the extent to which luxury retailers are reluctant or willing to introduce smart retailing technologies in line with other retail (sub)sectors.
Eleonora Pantano, Charles Dennis
6. Toward a Smart Store
Abstract
In a scenario where technologies are potentially beneficial for both consumers and retailers, store experience changes as consumers interact with store elements driven by the interactive technologies, and by the social interactions that consumers engage in within the store, including with friends, other consumers, and sales personnel.
While in the previous chapters we introduced how smart technologies impact retail management, in this chapter we explore the consequences of smart technologies at the store level, by identifying the six main building blocks: (1) smart data acquisition analysis, (2) changes in salespeoples’ jobs, (3) creation of smart partnerships from the retailer’s perspective, (4) changes in product/service consumption and access, (5) personalized (unique) shopping experience, and (6) technology-mediated interactions with retailer and other consumers from the consumer’s perspective.
Eleonora Pantano, Charles Dennis
7. Toward the Future
Abstract
Although the rapid advances in technologies and the changeable consumers’ interests and demands make predictions of the future of retailing and stores difficult, we might address some future development directions based on the current efforts in research by scholars and practitioners. This chapter addresses three main areas that are likely to be affected: (1) marketing and competitor intelligence, (2) customer assistance and retailers’ abilities to build and maintain relationships with customers, and (3) shopping as a social experience, as prompted respectively by the advancements in (a) big data and big data analytics, (b) artificial intelligence and machine learning, and (c) network access and infrastructures.
Eleonora Pantano, Charles Dennis
8. The Case of Tommy Hilfiger
Abstract
In the previous chapters, we proposed frameworks to evaluate retailers’ adoption of smart retailing approaches, with related benefits and risks. We also considered the smart approach at store level, with a new smart store framework. In this chapter, we will evaluate the retail strategy of an exemplary retailer to provide a real-world case study of a smart retailing approach and develop suggestions for retailers aiming to adopt a similar approach successfully.
Eleonora Pantano, Charles Dennis
9. Conclusion
Abstract
This book has explored three main concepts: (1) what smart retailing means, (2) why smart retailing matters, and (3) how to put smart retailing into practice. This final chapter concludes the book by providing a summary of these three concepts as discussed throughout the previous chapters.
Eleonora Pantano, Charles Dennis
Backmatter
Metadata
Title
Smart Retailing
Authors
Eleonora Pantano
Charles Dennis
Copyright Year
2019
Electronic ISBN
978-3-030-12608-7
Print ISBN
978-3-030-12607-0
DOI
https://doi.org/10.1007/978-3-030-12608-7