Successful Retail Research Articles

MYSTERY SHOPPERS AND NET PROMOTER SCORE TOOLS FOR CUSTOMER SATISFACTION IMPROVEMENT

In conditions of high levels of globalization and strong competition, customer satisfaction is an essential prerequisite for their loyalty and successful retailing. Defining measurable parameters that affect customer satisfaction is a prerequisite for measuring and tracking them. The AIDA model is the basis of the sales funnel concept that allows defining and measuring the value conversions of one funnel element to another. Through an analysis of two case studies: a local retail chain and an international Toyota retail, both based on the AIDA model, adapted sales funnels and conversion indicators of the sales funnel elements are presented as a measure of the success of the retail chain. Two methodologies for creating customer satisfaction are analyzed: BIG 4 and AWOS, including the tools: Upsale and CrossSale to enhance it. In addition to the thesis on the importance of customer satisfaction and the power of its influence, surveys of local sales staff and views of top world managers are presented. The importance of feedback from customer to company is demonstrated through realistic values from the application of two tools: Mystery Shoppers MS, and Net Promoter Score NPS. The process of defining an adapted sales conversion funnel is presented which is practically applied through the analysis of two case studies. The cases demonstrate the importance of educating sales staff, as well as the impact of marketing and commercial campaigns on sales success. The conclusion of the research is that customer satisfaction is a prerequisite for successful retailing and a major competitive advantage that should be constantly in the focus of every successful company.

ADVANTAGES OF RETAIL STRATEGIES FOR ASSORTMENT LINE DIFFERENTIATION

Modern retailers differentiate the offered assortment composition horizontally or vertically in order to meet the different, specific and heterogeneous customer requirements. The main purpose of this paper is to interpret basic theoretical and methodological assumptions regarding the nature of strategies for assortment line differentiation and, on this basis, to provide successful retail practice examples taking into account the preferences of the target customer segments. The research issues thus outlined require that a study into the specialized literature be carried out. Conceptual ideas and opinions on the process of assortment line differentiation are presented. The scientific methods of theoretical and empirical research that are used are: factor analysis and synthesis, comparison, generalization, induction and deduction, figures and tables for data visualization. The outcomes of the study are synthesized in the conclusions formulated and are linked to outlining the benefits of an appropriately chosen strategy for assortment line differentiation for retailers.

A Study On Consumer Awareness And Influence Towards Jaisuryas Departmental Stores In Salem City

The objective of this paper is to find out the consumer awareness and influence towards Jaisuryas Departmental Stores in Salem City. A total of 48 consumers of Jaisuryas Departmental Store were surveyed in the two branches of Jaisuryas Departmental Stores at Salem city. Descriptive analysis and Chi-Square were implemented in the study. The result depicts the level of awareness and the various factors which affects the consumer character and behaviour towards the Departmental Stores. This paper reveals the secret of successful retailing such as good quality products, lowest prices and guaranteed satisfaction and overall a pleasant shopping experience will help the departmental stores to achieve great success in retail industry.

Paradoxical influence of family ownership on innovation-focused organizational change

PurposeThe purpose of this paper is to focus on efforts of a large department store to increase its business advantage by boosting innovation. The first broad research question of this study investigated how the family and non-family members influence the process of organizational change aimed at greater innovativeness in a successful retail family business. The second research question was how the family enterprise handles the tension between change stemming from innovation and progress and the need for stability continuity tradition and maintenance of family control.Design/methodology/approachThis study is an in-depth inductive analysis (Glaser and Strauss, 1967) of an important and unique case (Yin, 1994).FindingsThe results of the study indicate that the push toward innovation was initiated by family members and that it was focused largely on creating structural support for the innovation activity keeping this activity tightly under monitoring and control by upper management. The attempts at equipping employees with innovation-relevant decision-making authority or consulting the clients in designing novel projects were absent, while the move to change the organizational culture was measured.Originality/valueThis study makes several contributions to the academic literature. It offers an empirical assessment of the effects of emotional attachment and ownership concentration on innovation management, a phenomenon postulated by Kotlaret al.(2016). These two characteristics pulled innovation-boosting initiative in opposite directions creating a unique dynamics. This research also provides an example of organizational identity that hinders the innovation process in the context of a family business that survived and developed over generations.

리테일 테크 (Retail Tech)의 성공요인 분석: 증강현실 (AR), 가상현실 (VR), 인공지능 (AI), 무인점포를 활용한 13개 리테일 사례를 중심으로

리테일 테크 (Retail Tech)의 성공요인 분석: 증강현실 (AR), 가상현실 (VR), 인공지능 (AI), 무인점포를 활용한 13개 리테일 사례를 중심으로

Determinants of the Success of Online Retail in India

Indian e-commerce industry has witnessed tremendous growth in recent years, which has resulted in the emergence of a big online retail segment. Due to the enabling environment, government policies, and the rapid infrastructural and technological development, there has been an increase in the number of online retailers both established brands and starts-ups. However, this has led to a high competition in the market, where the e-tailers jostle for market share, visibility and brand awareness. For a new entrant into the industry to be successful, it has to pay attention to the factors that contributes to the success of online stores. Such determinant factors must be known to the online retailers to position then in this rapidly changing marketplace. This paper seeks to identify the most important determinants to the success of online retail in India and how these can be taken up by the retailer. Along with that, it also outlines the factors, which can lead to the downfall on an e-tailer. Technology, government policy and marketing channels are the most important perspectives covered in this work.

Consumer Perception Towards Quality Of Service Offered By Online Retailers

Online service quality is one of the key determinants of the success of online retailers. This exploratory study revealed some important findings about online service quality. To survive in fierce industry competition, many practitioners and academicians in this field have recently focused on how to improve online services to attract potential customers and on how to retain current customers. Zeithaml (2002) has emphasized that companies should focus on online service encompassing all cues and encounters that occur before, during, and after the transactions This research examined online retailers quality analysis (developed specifically to monitor and assess the quality of online retailers) by building and analyzing a model using structural equation modeling. e-tail Q of Indian retailers are analyzed using dimensions like fulfillment/reliability, customer service, Personalization, usability factor, , informativeness, selection and security/privacy.

Shopper Attitudes about Privacy and the Likelihood of Disabling an RFID Tag

Successful omnichannel retailing of consumer goods will probably require item-level RFID tags. Consumer concerns about privacy may limit implementations of item-level tagging and slow omnichannel growth. This study tests consumer reactions to a tag that can be disabled by customers after purchase. Two surveys examined relationships between support for and use of this type of RFID tag and privacy concerns, demographics, and behaviours. Many of the expected relationships were not found, suggesting that simply placing this type of tag on products is unlikely to significantly ameliorate privacy concerns. Targeted communications at individuals in specific segments (e.g., those nervous about new technologies, those actively involved in an organised religion, etc.) that explain the technology and reassure consumers may complement the adoption of these special RFID tags and help overcome the barrier created by privacy concerns.

Exploring the geography of retail success and decline: A case study of the Liverpool City Region

The retail economy has undergone a profound change over the past two decades. This is largely related to a number of competitive and economic shocks, in particular the rapid increase in online sales that has represented a profound change to the way consumer goods are bought and sold. As a result, many traditional ‘bricks and mortar’ retail businesses have perished, however, the degree of that decline varies geographically with some places being more resilient than others. In this study we examine the retail landscape in the Liverpool City Region where some startling examples of variability of experience can be identified. These vary extensively from notable success stories, such as Liverpool One shopping destination, to high streets which have become symbols of decline. As such this paper provides empirical evidence on economic health of the traditional retail spaces in the Liverpool City Region and identifies attributes that make some of the retail centres a viable proposition for the future. It also creates a conceptual typology of the sub-regional retail centres linking their economic performance to a success or failure in strategic positioning of a particular centre. Implications of our findings to the city region are also discuss and placed in a wider national policy context, in particular the outdated ‘town centre first’ approach.

The effects of out-of-stock, return, and cancellation amounts on the order amounts of an online retailer

Despite the spectacular success of online retailers in recent decades, some inherent weaknesses, including out-of-stock, returns, and order cancellations, still negatively influence the financial performance of online retailers. The aims of this study are: 1) to examine the effects of these undesirable sales situations on the financial performance (in this study, the order amounts) of an online retailer; and 2) to investigate the moderating effects of price ranges (low, medium, and high) on the relationships of these undesirable sales situations with financial performance. A total of 2484 transaction data sets involving 260 brands obtained from an online fashion retailer are used to test the proposed hypotheses. In the pooled model, out-of-stock amounts have a negative impact, return amounts have no impact, and cancellation amounts have a positive impact on order amounts. Interestingly, however, these relationships vary with price groups, which verifies the moderating effects of price groups. Our findings provide new insights into managing undesirable sales situations by price group.

Setting acceptable prices: a key for success in retailing

Purpose This research enables the authors to highlight the importance of proper pricing for retailers. The purpose of this paper is to demonstrate the importance of demand-based pricing, providing empirical results that reveal the validity of this pricing philosophy in the sport retailing industry. In particular, this study has identified the limits of acceptable prices for the products studied, selected the most appropriate method for pricing products suffering from high competition and compared the impact produced on price perceptions according to different retail environments to be able to relate changes in the acceptable prices ranges according to the geographical location of each point of sale, differentiating between rural or urban environment and type of client. Design/methodology/approach The authors have carried out surveys of 350 customers in each of the three points of sale analysed. Therefore, there are a total of 1,050 interviewees, for the three products analysed. The direct method of acceptable prices setting is developed. In addition, ANOVA and t-test have been carried out to find differences between the three shops. Findings One main finding is that the acceptable price range is not unique. Each point of sale has one that is distinct because it depends on many factors: the competition, the economic capacity of the closest residents, the location of the point of sale or the ability to attract customers. Originality/value The foremost contribution of this paper is to demonstrate empirically how considering the local demand at setting prices would generate larger earnings, even for a small retail chain. The direct method of setting acceptable prices enables us to set the prices according to the demand. The best option is if these prices are above the costs. It can be noted that the prices should be set according to each shop, and a different price used in each point of sale to maximise profits and to adapt to what the typical customer of each shop is willing to pay, despite the products being the same and the points of sale belonging to the same retail chain.

Do Not Leave Your Pricing Strategy Hanging: The Elevate Hammock Company

Greyson Junggren had an entrepreneurial spirit and started Elevate Hammock Company while he was still in college. His mission was to produce high-quality, durable hammocks that were made for the outdoors. Not knowing a lot about how to set the price for his hammocks when he first started his business, Greyson used a cost-plus/competitive approach. But after some time, he noticed that much of the market he had hoped to capture was staying with his higher priced competitors. While still generating and growing sales figures, Elevate Hammock Company was not capturing as much business from rival hammock companies in retail stores that Greyson expected and wanted. Greyson started to understand there was probably a real problem with his price when a very successful retailer in Taos, New Mexico ignored Greyson’s suggested retail price of US$55.00 and instead raised the price to US$65.00; and this resulted in an increase in the demand for Greyson’s hammocks. After 2 years in business, Greyson wondered if he should change his pricing strategy or his distribution model. What pricing strategy should he change to? And what other business strategies should he change or continue with if he did change his pricing strategy?

Marketing Mix Strategy and Consumer Intention to Buy (Empirical Study on Retail Store at Manado City)

Retail store at Manado city from year 1990 to 2017 facing fascinating development. The competition between them obviously forced to make excellent strategy. Cutting price, interesting layout, excellent and unique services are the examples of marketing strategy could conduct by retail store. The successful retail store has to fulfill the need of consumer such as served with high quality product, compete price, services and other promotion. Meanwhile, location and another facilities retail store has also to be aware. Unsatisfied consumer will make negative effect on moving consumer to other store who served better services. If the situation continues the store will facing decreasing sales and profit. Hence, to prevent that loss, retail store has to create loyal consumer. This research tried to examine marketing mix on consumer intention to buy at Alfa Mart at Manado City. The analysis data used path analysis. The respondent is Alfa mart consumer, reached by accidental sampling. The number of samples is 161 data. The result of study was all the marketing mix variable such as product, price, place and promotion significant influenced on consumer intention to buy. Keywords: marketing mix, competition, intention tu buy, retail store, Alfa Mart.

A quantitative performance management framework for assessing omnichannel retail supply chains

This study proposes a performance management framework with a roadmap to success and evaluates successful retailers. We provide comparative analysis of brick-and-mortar versus omnichannel retail supply chains and propose comprehensive performance metrics categorized with respect to four competitive dimensions (sustainability, efficiency and effectiveness, responsiveness, flexibility) and seven perspectives (customers, operations, sourcing, finance, information sharing and information technology, transportation, environment). Two customer-centric frameworks and a statistical model are developed to analyze the characteristics of successful omnichannel retail supply chains. The quantitative analysis shows that physical stores are a critical component of omnichannel strategy for many retailers. From a practical perspective, our frameworks provide guidelines and metrics to be used for assessing the success of omnichannel retailers. The comparative analysis of the top 25 U.S. retailers provides additional insights for critical success components in transition to omnichannel retailing.

Tesco: how supply chain strategy supports retail success

Tesco: how supply chain strategy supports retail success

Examining Marketing Mix Strategy on Consumer Intention To Buy: Empirical Study on Alfa Mart Retail Store at Manado City

Retail store at Manado city from year 1990 to 2017 facing fascinating development. The competition between them obviously forced to make excellent strategy. Cutting price, interesting layout, excellent and unique services are the examples of marketing strategy could conduct by retail store. The successful retail store has to fulfill the need of consumer such as served with high quality product, compete price, services and other promotion. Meanwhile, location and another facilities retail store has also to be aware. Unsatisfied consumer will make negative effect on moving consumer to other store who served better services. If the situation continues the store will facing decreasing sales and profit. Hence, to prevent that loss, retail store has to create loyal consumer. This research tried to examine marketing mix on consumer intention to buy at Alfa Mart at Manado City. The analysis data used path analysis. The respondent is Alfa mart consumer, reached by accidental sampling. The number of samples is 161 data. The result of study was all the marketing mix variable such as product, price, place and promotion significant influenced on consumer intention to buy. Keywords: marketing mix, competition, intention to buy, retail store, Alfa Mart.

Creating Effective Online Customer Experiences

Creating effective online customer experiences through well-designed product web pages is critical to success in online retailing. How such web pages should look specifically, however, remains unclear. Previous work has only addressed a few online design elements in isolation, without accounting for the potential need to adjust experiences to reflect the characteristics of the products or brands being sold. Across 16 experiments, this research investigates how 13 unique design elements shape four dimensions of the online customer experience (informativeness, entertainment, social presence, and sensory appeal) and thus influence purchase. Product (search vs. experience) and brand (trustworthiness) characteristics exacerbate or mitigate the uncertainty inherent in online shopping, such that they moderate the influence of each experience dimension on purchases. A field experiment that manipulates real product pages on Amazon.com affirms these findings. The results thus provide managers with clear strategic guidance on how to build effective web pages.

Bertelsmann China: Supply Chains for Books (B)

The case of Bertelsmann China: Supply Chain for Books (B) is situated in China in the beginning of 2006. Bertelsmann Direct Group, the Chinese subsidiary of the worldwide Bertelsmann AG, is one of the leading book retailers in the country. Supply chain management is essential for success in retailing, which is why Bertelsmann puts a lot of effort into the optimization of its supply chain design. As costs are paramount to importance in the low-margin book retailing sector, linear programming methods are applied to optimize the network

Traces of foreign retailers – local knowledge-spillovers and strategy adaption within retail internationalization

ABSTRACTSince the 1990s certain retail companies have evolved into some of the largest and most dispersed transnational corporations worldwide. However, within the ‘new era of retail distribution’ retailers are increasingly divesting from foreign markets. This study addresses these recent and under-explored dynamics by revealing the traces transnational retail corporations leave after divesting from a country. It explores the aspect of learning of host market retailers from entering transnational corporations (TNCs) and examines how foreign knowledge is adjusted in the business strategies of these local actors. It takes a fresh empirical slant using qualitative interviews with host market retail managers including former TNCs’ subsidiaries operating under domestic ownership. The emerging economy of Turkey serves as an empirical example. The paper finds that foreign retailers transfer firm-specific resources to the local retail through (1) demonstration and imitation, (2) vertical linkages with suppliers, (3) joint ventures and acquisitions, and (4) labor turnover of TNC trained staff. Certain successful local companies adjust the foreign knowledge based on their local knowledge and strengths, their high level of flexibility and deep territorial embeddedness, and create ‘hybrid’ business strategies. These findings suggest that dynamic capabilities are crucial to successful retailing in an international competitive environment. TNC managers should work with local staff in partnerships of equals and managers of locally operating companies should incorporate new knowledge by hiring TNC trained staff.

From bazaar to Big Bazaar

PurposeThis paper aims to understand the factors affecting the evolution of retailing in India since the mid-nineteenth century.Design/methodology/approachThis paper compares the trajectories of four distinct retail stores in India – Spencer’s pan-Indian retailing empire since 1863, Akbarallys’ department store chain in Mumbai since 1897, Apna Bazar’s consumer cooperative chain in Mumbai since 1948 and the Future Group’s pan-Indian retailing chain since the 1980s. Historical sources include firm biographies and newspaper archives.FindingsThis paper proposes a systems theory linking environmental influences and service innovation, to explain the evolution of retailing in India since the mid-nineteenth century. The key environmental influence on retailing has been state patronage – colonialism and high-end department stores until the 1940s, socialism and cooperative stores until the 1980s and liberalisation with restricted foreign direct investment in retailing until 2015 associated with indigenous corporate large retail format stores. Service innovation in terms of home delivery and recreation of the bazaar atmosphere due to norms on gender and community have also interacted to shape individual success in modern retailing and the dominance of small shop retailing over the long run.Research limitations/implicationsThis paper questions standard accounts of retailing history in India that began with the late-twentieth century by showing the scale of a pan-Indian retailing chain in the early-twentieth century. It also provides an account of retailers that is missing in the current literature on the history of consumption in India.Practical implicationsFindings of this study will be useful to marketing professionals and teachers who wish to learn more about the history of retailing in India. It also shows how retailers navigated changes in the regulatory and business environment.Originality/valueThrough a comparative study, this paper outlines the environmental influences on retail formats and service innovation strategies that are required to serve the Indian market. It also brings to fore the significance of retailing chains in colonial India.