Retail Business Research Articles

Цифровая трансформация бизнес-процессов управления товарным ассортиментом

The problem of managing the assortment of goods in retail is considered, a solution to this problem is proposed through digital transformation. It is emphasized that changes in consumer preferences can have a negative impact on business if companies are not ready to respond quickly to them. Goods assortment managing becomes a criti-cal factor for ensuring profitability. The formalization of the economic and mathematical characteristics of the commodity matrix and its impact on the trade policy of the enterprise is discussed. The importance of building an assortment matrix for each retail facility is emphasized, which contributes to more effective analysis and management of the assortment. It is noted that successful product policy management includes not only the assortment, but also pricing, quality of goods, product promotion and sales promotion. To achieve maximum efficiency, it is recommended to use information and analytical systems. A Data Mining methodology is proposed for analyzing the commodity matrix and forecasting demand. The analysis of the product matrix helps to automate the calculation of the sales forecast for a certain period of time, which contributes to more accurate inventory planning and timely formation of orders. The importance of the company's assortment policy is emphasized, which can increase customer demand, reduce costs and increase the marginality of retail activities. The development and implementation of an information and analytical product matrix management system can automate many processes in retail and simplify the management of retail business processes, which contributes to the optimization of the product range and customer satisfaction. In practice, this approach can significantly simplify the management of retail business processes and increase the competitiveness of the enterprise in a dynamic trading environment.

Aster Retail UAE (A): Connecting Employees, Customers and Business Results

Aster Retail (AR) is the retail pharmacy division of the Aster Dr Moopen's Healthcare (ADMH) Group. The group delivers healthcare services across the Middle East, India and the Far East, with a portfolio of hospitals, clinics, diagnostic centres and retail pharmacies. AR, under the leadership of Chief Executive Officer (CEO) Jobilal Vavachan, is well known for its people-centric approach, unique culture and innovative human resource (HR) practices. AR has won multiple awards for HR practices, service quality and business performance. In a recent corporate restructuring (2018), “Aster Primary Care” was carved out by combining the group's Clinics and Retail businesses. This case discusses the evolution of AR's HR journey and the challenges associated with integrating culturally diverse businesses without compromising the values of ADMH and its promise, “We'll Treat You Well.”

Exploring the plot patterns of the retail landscape: The case of the Helsinki Metropolitan area

This study examines the impact of the morphological characteristics of plots in the Helsinki Metropolitan Area (HMA) on the retail landscape, with a focus on understanding the ways in which the morphological characteristics potentially influence the distribution, agglomeration and diversity of retail businesses. Although frequently underestimated in contemporary placemaking practices, this research emphasizes the role of the dual nature of plots as an element of urban form and an element of control over the retail landscape of the city. In this sense, the role of the morphological characteristics of plots in shaping the retail landscape of the city was investigated. The compositional (size, frontage ratio) and configurational (integration, betweenness, frequency) features of the plot in the HMA ( n = 77,736) were measured. Thereafter an unsupervised two-step clustering method was applied to reveal the subtle morphological regions through plot patterns. Computational plot characterization with open data sets yielded six plot types having different morphological characteristics and geographic distribution patterns. The spatial capacities of each plot type for retail distribution, agglomeration and diversity were then analysed and compared. This research argues that the interrelationship of the dual nature of plot plays an important role in placemaking processes. The results suggest that the spatial capacity of plots to accommodate street-based retail clusters is improved with spatially integrated, fine-grained urban fabric with independent micro-businesses involving a diversity of uses and actors. The study argues that these spatial conditions might also increase retail resilience and contribute to the vitality and viability of the retail landscape.

TRANSFORMASI SISTEM INFORMASI AKUNTANSI ARUS KAS DENGAN MENGGUNAKAN VISUAL STUDIO DAN MYSQL PADA CV. MUTIARA SEJAHTERA

This research focuses on the importance of accounting information systems in the retail business, with a case study on CV. Mutiara Sejahtera. We use qualitative methods and development cycle systems to understand the needs and overcome the constraints in managing a financial company. With business growth, managing data receipts, transactions, and expenses becomes complicated. A more integrated accounting information system is implemented to record and process data more efficiently. This helps reduce human error and provides better financial reports. The results of the implementation of this new system provide benefits for CV. Mutiara Sejahtera. Finances are managed more efficiently, and more accurate reports help decision-making. Thus, the implementation of an integrated accounting information system has the potential to support business growth and build operational transparency.

A Study of Emotional Intelligence and Work Life Balance of Employees in the IT Industry in Bangalore

Every day, our workplace is influenced by the presence of emotions, which form an essential part of our biological makeup. These emotions accompany us into the professional setting each morning, shaping our actions and reactions. The different dimensions of EQ, as well as its consequences on workers and their organisations, are now the focus of research. EQ boosts efficiency and effectiveness in the workplace. It has a big impact on the results an employee achieves and the rapport he or she has with coworkers. Leaders and managers in IT have found work-life balance to be a difficult problem, and studies have taken notice. This study's literature evaluation on emotional intelligence and work-life balance has enlightened the researcher on several issues. It also gives guidance in planning the current research. The researcher felt compelled to conduct the current study after reviewing the existing literature and identifying the void. There were 375 IT workers in Bangalore, India, chosen at random. Both men and women working in IT were included in the sample. To determine how many people from each of the three categories of management level would participate in the survey, a judgmental sampling method was used. This inquiry will spark a series of thoughtful and fruitful conversations on leadership in the workplace. The findings of this research show that retail businesses may achieve greater profitability and gain a competitive edge by emphasising both emotional intelligence and work-life balance.

Bilingualism in Language Variation in Modern Retail Businesses in Java Island Region

Penelitian ini bertujuan mendeskripsikan bentuk variasi bahasa sistemik serta kontak bahasa dalam pamflet maupun katalog bulanan ritel di Indonesia. Untuk menarik pembeli ritel modern lazimnya membuat pamflet maupun katalog bulanan yang dibagikan kepada khalayak luas di ruang publik. Sebagai produk bahasa, pamflet maupun katalog setiap ritel modern memiliki fenomena kebahasaan masing-masing. Data dalam penelitian ini diambil dari tigabelas ritel modern di Indonesia. Data diambil dari internet berupa pamflet atau katalog di bulan Mei—Juni 2023. Data yang sudah didapatkan melalui observasi lalu diklasifikasi kemudian dianalisis dan diakhiri menarik kesimpulan. Hasil penelitian ini menemukan adanya bentuk variasi sistemik dalam tataran leksikal, morfologi, hingga sintaksis. Variasi sintaksis mendominasi variasi bahasa dalam pamflet. Selain itu, bentuk kontak bahasa yang muncul dalam data berupa adanya bilingualisme. Dalam data muncul kontak bilingual dalam bahasa Indonesia dan bahasa asing. Bahasa asing yang mendominasi adalah bahasa Inggris. Penggunaan bahasa Inggris berkaitan dengan prestise dan tujuan menarik konsumen.

Efektivitas Penggunaan E-Commerce dalam Perkembangan Usaha Kecil Menengah di Kota Surakarta

There are many factors that influence the development of MSMEs in Indonesia among ecommerce users. In this regard, researchers will examine the influence of businesses with e-commerce content on retail businesses on the marketing aspects of micro, small and medium enterprises in the city of Surakarta. The specific objectives of this research are 1). To help retail business managers maximize product distribution, information and socialization so that they are easily accessible to the community so they can compete with business managers using e-commerce media. 2). socialization process, product education, marketing and product data processing through e-commerce. As for the research results, there is a significant influence of e-commerce media on the development of MSMEs in the city of Surakarta..

China’s New Retail Business Model: the Case of Super Species

Purpose: The aim of this study is to explore the purpose of investigating the business model of "New Retail” which is crucial for understanding industry innovation, enhancing the customer experience, exploring business model innovation, assessing economic impact, and recognizing global influence. Theoretical framework: This comprehensive theoretical framework provides the foundation for analyzing the multifaceted dynamics of "New Retail" with the inclusion of value proposition, value network, revenue model, tacit knowledge, and explicit knowledge. Design/methodology/approach: The research methodology employed in this study encompasses a case study of innovative retail businesses, Super Species. It investigates how these businesses have leveraged technology to enhance customer experiences. Findings: The study's findings underscore the pivotal role of "New Retail" in reshaping the traditional retail landscape through technology-driven innovations. It elucidates the impact of "New Retail" on industry dynamics and its potential to secure competitive advantages through analyzing the business model. Research, Practical & Social implications: This research has implications for understanding the transformative power of "New Retail" in the retail industry. It provides insights into consumer expectations, policy influence, and the integration of online and offline retail. Additionally, it highlights the importance of new retail business model and its effects on economic and global dimensions. Originality/value: The originality of this study lies in its comprehensive examination of "New Retail" as a transformative force in the retail industry. It explores the interplay of digital technologies, consumer behavior, government policies, and innovative business models, shedding light on the unique value proposition and implications of "New Retail."

Strategies for coping with energy security challenges in SMEs in Ghana

Over the last decade, Ghana has witnessed its share of energy instability (between 2014 and 2016 and beyond) and crises that worsened its energy fortunes. In the phase of such challenges to energy security in Ghana, efforts have been made to achieve a secure, adequate and affordable energy supply, the study assesses the energy security of SMEs, as well as the coping strategies adopted by SMEs in the Greater Accra Region of Ghana to confront the challenges of ES. The analysis covered 246 respondents selected from over 500 SMEs. The cluster method and simple random sampling approaches were used to select the respondents. Data collected through questionnaires were edited and cleaned to ensure completeness, consistency and legibility. Descriptive, exploratory, and inferential analyses were applied to the data collected from the respondents. The means and Relative Importance Index (RII) were calculated and used to assess the strength of strategies adopted by the SMEs to cope with the challenges of ES. The study concluded that the themes for assessing the ES of the SMEs were ranked in order of affordability, acceptability, efficiency, and with the lowest being availability. In general, it came out that the SMEs did show better performance in ES. The categories of SMS that better cope with the challenges of ES are the wholesale and retail business sectors. Their coping strategies relate to the various strategies available to them; reducing energy consumption, exploiting renewable energy power, reducing energy consumption, using generators, and temporarily suspending business. The strength for coping is limited by the few options thus making the SMEs more vulnerable to achieving ES.

Perceived risks, challenges and coping strategies among West African immigrant entrepreneurs in Ghana

Globally, immigrants’ entrepreneurship has been widely acknowledged as a critical driver for the socio-economic development of nations. Yet, studies barely examine the risks and difficulties immigrants encounter in their business transactions, especially those engaged in small-scale itinerant retail businesses. This paper strives to fill this lacuna from the contextual perspective of the Global South by examining the risks and complexities of West African immigrant entrepreneurs in Accra, Ghana. This paper draws data from a survey of 779 respondents and in-depth interviews with nine key informants. The data from the survey were analysed using descriptive statistics (e.g., bivariate analysis) whilst the qualitative data were analysed thematically. The study indicates that work-related health hazards and accommodation difficulties are the main risks and difficulties immigrants encounter in their everyday business operations. Additionally, fatigue ensuing from excessive trekking, and exposure to the scorching sun are the specific health risks associated with their business. Coping strategies of immigrant entrepreneurs included resorting to support from family and friends in Ghana and back home. Others included reliance on their skills/expertise to earn a living, self-medication-usually pain killers intended to overcome fatigue, relying on migrant networks and doing other menial jobs. The findings suggest that whilst the business operations of the immigrant entrepreneurs offer possibility to eke a living, diverse risk factors and complexities counter the efforts of the immigrant retailers. The paper recommends that leadership of the immigrant groups should organise health education programs for their members towards ensuring that immigrant entrepreneurs adopt health safety practices such as limiting exposure to scorching sun, excessive fatigue and unsupervised self-medication.

The Influence Of Sales Promotion And Customer Experience On Purchase Intention Mediated By Customer Satisfaction

The fast-moving consumer goods (FMCG) retail business in Indonesia has been experiencing rapid growth since 2019. With over 3.6 million traditional retailers (warungs), the Indonesian economy has greatly benefited from this industry, with a business potential of up to US$ 58 billions (Maulana, 2022). As digital transformation continues, business owners are increasingly digitizing their operations. The B2B e-commerce model is used to simplify the procurement process for shop owners. The purpose of the research is to examine the impact of Sales Promotions and Customer Experience on Purchase Intention mediated by Customer Satisfaction among AKSESMU digital application users in JABODETABEK. In addition, this research aims to identify the variables that directly or indirectly influence purchase Intention. Data was collected through an online survey using Google Forms from 207 respondents of AKSESMU digital application users in JABODETABEK. The collected data was analyzed using AMOS software version 24. The results indicate that Customer Experience and Customer Satisfaction have a significant and positive impact on the Purchase Intention of AKSESMU digital application in JABODETABEK.

Factors Influencing Customer Satisfaction? A Case Study of Watsons's Personal Care Store in Malaysia

Watsons's Personal Care Store has been Asia's top health and beauty retailer since 1828, which strives to satisfy customers' expectations through marketing strategies. Approximately three billion customers shop both in stores and online every year. To remain competitive in the retail business, Watsons is constantly seeking efficient ways to satisfy customers' needs while also overcoming the growing competition's challenges. This study's objective is to determine whether service quality, perceived trust, perceived convenience, and product pricing significantly correlate with customer satisfaction, which may lead to customer loyalty. This research examines approximately 150 Watsons's customers from Malaysia. The respondents were asked to answer a questionnaire via Google Form that researchers have spread through online platforms. SPSS was used to analyze our data. Once the data had been collected, the results from the respondents were expected that service quality does affect customer loyalty and satisfaction. Our results indicate that service quality, perceived trust, perceived convenience, and product pricing have a significant relationship with customer satisfaction. Additionally, customer satisfaction has an approximately complete mediating effect on customer loyalty. The findings will reveal new perspectives on customer satisfaction with Watsons's Personal Care Store.

The historical evolution of the Greek retail trade: a first overview of its organisational-functional and spatial restructuring

The history of retailing has become an area of growing scholarly interest over the last few decades, with publications mainly concerning the national historiography of retail and wholesaling. On the other hand, although the retail sector is considered to be one of the most historically significant sectors of the Greek economy, the economic history of the Greek retail industry remains a notoriously underdeveloped area of inquiry and, as such, is on the margins of economic and social studies in Greek historiography. In this paper, we, attempt to provide a first concise (and certainly not exhaustive) analysis of the historical development of the Greek retail sector from the nineteenth century to the present (in circa) day. Specifically, we aim to analyse the evolution of the Greek retail trade to assess the spatial and social impacts associated with establishing and operating “new forms” of commerce. The focus is on the sectoral and organisational restructuring of the retail trade with the changes in the standards of the spatial location, which relate to the establishment and operation of retail businesses. Students and scholars of the history of retailing would benefit from this worthwhile exercise which for the first time provides a first overview of the historical development of the Greek retail sector.

Optimal pricing strategies and decision‐making systems in e‐commerce using integrated fuzzy multi‐criteria method

AbstractE‐commerce online stores are now virtual platforms for connecting with millions of potential clients worldwide in the age of digitization. The marketing teams develop digital marketing tactics to attract traffic to their e‐commerce sites and increase sales volume. With the vast amount of data provided by the cloud, decisions that were previously made with a significant level of intuition based on the knowledge and experience of decision‐makers can now be backed using artificial intelligence algorithms. To identify the variables influencing pricing decisions for products launched on e‐commerce shopping sites and to develop variable pricing techniques for each product found on an e‐commerce site. This paper introduces a novel approach that applies Fuzzy association rule mining (FARM) and Fuzzy TOPSIS MCDM methodology. A B2B e‐commerce marketing store based in Hong Kong has created and implemented Smart‐Quo, a pricing decision support system for B2B e‐commerce retail businesses. After a six‐month trial period, there has been a substantial advance in the effectiveness and efficiency of choosing prices for each product. The case study illustrates the viability and potential advantages of implementing artificial intelligence tools in marketing management in the digital era.

Human Resource Development Methods During the Covid-19 Pandemic and New Normal in Matahari Department Store Retail Business Companies Armada Town Square Magelang

The aim of this research is to identify methods for developing human resources, efficiency and effectiveness, as well as the benefits obtained by employees and companies after training is held during the Covid-19 pandemic and the New Normal. This type of research is qualitative research using primary data, the researcher conducted a short interview with the head of HRD Matahari Department Store Magelang and distributed questionnaires to 20 respondents who were employees of Matahari Department Store Magelang. Data were analyzed using the Miles and Huberman model analysis technique. The results in this research show the methods of developing human resources on-the-job training and off-the-job training, the efficiency and effectiveness of training, and the benefits of training for employees and companies

Should I Go Back to the Roots to Obtain My Food? Understanding Key Factors Driving U.S. Consumers’ Preferences for Food Foraging over Buying and Growing Food

Alternative forms of food procurement have increased in consumer popularity since the occurrence of food price inflation and the ongoing recession in the U.S. The present study explores predictors such as food engagement, food-related COVID-19 concerns, and the importance of sustainable foraging practices as determinants for U.S. consumers’ preferences for food foraging. Two scenarios are investigated, the preference for food foraging over growing food and food foraging over regular food buying. The study is based on an online consumer survey (n = 401) and used partial least square structural equation modeling (PLS-SEM) for the data analysis. Results indicate that food engagement is the strongest predictor for both foraging over buying and foraging over growing scenarios. However, food-related COVID-19 concern appears to only be relevant for the foraging over buying scenario and the importance of sustainable growing practices is only relevant for the foraging over growing scenario. These findings are important because they indicate the attitudinal triggers of food foraging and are therefore of relevance to foraging communities and managers in municipalities, food retail, and horticultural businesses who are associated with traditional and alternative forms of food procurement.

Traditional Retailer’s Intention to opt E-commerce for Digital Retail Business in Saudi Arabia

This study investigates the factor affecting traditional retailer’s intention to opt e-commerce in the context of digital retail business in Saudi Arabia. Employing a cross-sectional survey methodology, structured questionnaires were administered to traditional retailers, providing a snapshot of their perceptions and intentions regarding e-commerce adoption. The data analysis was conducted utilizing the PLS-based structural equation modeling method. The study reveals that perceived usefulness is a pivotal driver, positively impacting the intention to opt e-commerce. Moreover, attitude towards e-commerce is significantly influenced by perceived usefulness and ease of use, highlighting the importance of user-friendly platforms. Conversely, high perceived costs can deter a positive attitude. Overcoming technological barriers is also instrumental, as they can foster a more favorable attitude. Intriguingly, organizational and environmental barriers had limited direct impact on attitude, indicating that internal and individual factors play a more substantial role in shaping the attitudes of traditional retailers in Saudi Arabia. The insights garnered from this research hold substantial significance for the traditional retail industry, government authorities, and all relevant stakeholders invested in facilitating the successful incorporation of e-commerce into Saudi Arabia's established retail sector. This integration is pivotal in ensuring a competitive edge within the dynamic landscape of digital retail. Understanding these factors is vital as the retail landscape continues to evolve, bridging the gap between traditional and digital retail models.

Developing a Convenience Store Product Recommendation System through Store-Based Collaborative Filtering

Providing personalized product recommendations in offline retail stores, especially small-format offline retail businesses such as convenience stores, poses a great challenge. To address this issue, this study aimed to find a solution by shifting the perspective on recommendation methods and altering the target of recommendations. In this study, recommending products was defined as suggesting products that should be introduced and displayed within the store. This recommendation system proposes products that individual stores have not yet introduced but are anticipated to be purchased by customers. Building upon this, we developed a store-based collaborative filtering recommendation system. Furthermore, various rules and logic pertinent to store operations and business considerations for convenience stores were integrated to implement this recommendation system. The accuracy and effectiveness of the system were demonstrated through its application in actual convenience stores. Results from the pilot implementation of the system showed that 88% of the newly recommended products in individual stores were sold within a week, and the sales revenue was 1.75 times higher than the average sales of those products across the entire stores. Survey results on business owners’ satisfaction yielded a score of 4.2 out of 5, indicating a high level of contentment. This research holds significance in extending the scope of personalized recommendation studies from primarily online platforms to offline retail businesses such as convenience stores. The study also suggests avenues for future research to address some of the identified limitations.

Unleashing Customer Insights through K-Means Clustering for Enhanced Retail Decision-Making

The modern retail industry now has access to vast volumes of data thanks to rising standards, automation, and technology, but the commercial decision-making process has become complicated. The utilization of Data Mining technologies for retail businesses has become indispensable for making decisions concerning sales, profit, customer satisfaction, and reduced cost. This study's foundation is segmentation principles using K-Means Algorithm in RapidMiner. This research adds to the development of useful insights into the future of Data Mining and its applications in the retail business. The results obtained from the survey indicate how retail businesses can make more informed decisions on how to keep their already customers satisfied and happy as well as how to alter factors to be more attractive to other customers.

Development of Integrated Warehouse Application for Retail Business with Multi-Echelon Demand using Open-source ERP System

The Integrated Warehouse Application (IWA) is a platform that combines inventory management, order management, warehouse operations, shipping, logistics, and reporting and analysis. It helps users manage their inventory to meet supply and demand requirements. Although many large companies use IWA to increase their operational efficiency, its complexity, technology, and customization requirements make it too expensive for small and medium-sized enterprises (SMEs). Our study focuses on SMEs in the retail business, where fast and accurate order processing is important for customer satisfaction and loyalty. We researched how to accommodate multi-echelon demand for the retail industry. To address these challenges, we used an Open-source ERP System called Odoo to create the IWA. Our findings show that implementing an integrated warehouse inventory system like the one provided by Odoo can offer real-time visibility into inventory levels, orders, and shipments. Automating manual processes enhances speed and accuracy, which improves customer service and business performance.