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2020 | OriginalPaper | Buchkapitel

6. New Models of Strategic Customers in the Age of Omnichannel Retailing

verfasst von : Fei Gao, Xuanming Su

Erschienen in: Channel Strategies and Marketing Mix in a Connected World

Verlag: Springer International Publishing

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Abstract

In the omnichannel era, consumers optimize their shopping experience by exhaustively considering all possible alternatives across both online and offline channels. In this chapter, we present new approaches to model consumer behavior in the omnichannel environment. We start by reviewing traditional models of strategic consumer behavior and then apply them to omnichannel initiatives in the retail industry. These omnichannel strategies help mitigate two key problems in retail: stockouts and product misfit. We hope that our models can inspire future research in the emerging area of omnichannel retailing.

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Vorheriges Kapitel Optimization of Operational Decisions in Digital Advertising: A Literature Review
Nächstes Kapitel On-Demand Customization and Channel Strategies
Fußnoten
1
If consumer valuation takes only two possible values as we assume in this section, then there are actually multiple equilibria (p ∗, q ∗, r ∗) such that p ∗ = θv + (1 − θ)r ∗, \(\bar F(q^*) =({c-s})/[{\theta (v-s)}]\) and r ∗≥ 0. However, as shown in Su (2009), the equilibrium specified in Proposition 6.5 is the only robust one for a general consumer valuation distribution.
 
2
The model can be extended to other ways of reducing consumer valuation uncertainty; for example, online reviews and sampling.
 
3
The latter is similar to how spot selling differs from advance selling, i.e., spot selling could also result in a loss in demand by selling to consumers after they realize their true valuations. Readers can refer to Xie and Shugan (2001) for a detailed discussion.
 
4
For the discussions of other firm’s decisions in the context of omnichannel retail, readers can refer to other chapters in this book.
 
Literatur
Dana JD (2001) Competition in price and availability when availability is unobservable. Rand J Econ 32(3):497–513 CrossRef
Davis S, Gerstner E, Hagerty M (1995) Money back guarantees in retailing: matching products to consumer tastes. J Retail 71(1):7–22 CrossRef
Deneckere R, Peck J (1995) Competition over price and service rate when demand is stochastic: a strategic analysis. RAND J Econ 26(1):148–162 CrossRef
Gallino S, Moreno A (2014) Integration of online and offline channels in retail: the impact of sharing reliable inventory availability information. Manag Sci 60(6):1434–1451 CrossRef
Gao F, Su X (2017a) Omnichannel retail operations with buy-online-and-pick-up-in-store. Manag Sci 63(8):2478–2492 CrossRef
Gao F, Su X (2017b) Online and offline information for omnichannel retailing. Manuf Serv Oper Manag 19(1):84–98 CrossRef
Rigby D (2011) The future of shopping. Harv Bus Rev 89(12):65–76
Su X (2009) Consumer returns policies and supply chain performance. Manuf Serv Oper Manag 11(4):595–612 CrossRef
Su X, Zhang F (2009) On the value of commitment and availability guarantees when selling to strategic consumers. Manag Sci 55(5):713–726 CrossRef
Xie J, Shugan SM (2001) Electronic tickets, smart cards, and online prepayments: when and how to advance sell. Mark Sci 20(3):219–243 CrossRef
Metadaten
Titel
New Models of Strategic Customers in the Age of Omnichannel Retailing
verfasst von
Fei Gao
Xuanming Su
Copyright-Jahr
2020
Buch
Channel Strategies and Marketing Mix in a Connected World

Print ISBN: 978-3-030-31732-4

Electronic ISBN: 978-3-030-31733-1

Copyright-Jahr: 2020

DOI
https://doi.org/10.1007/978-3-030-31733-1_6