Retailing in the 21st Century - Current and Future Trends

Foreword

Acknowledgements

Table of Contents

Overview

PART I: Introduction

Retail Success and Key Drivers

Retail Success and Key Drivers

Innovative Segment

Low Price Segment

The Big Middle Segment

Strategic Levers for Retail Success Through Value

Retailing Challenges and Trends for the Future

Conclusion

References

Retailing in the Global World: Case Study of Metro

Metro History and Evolution

Conclusion

PART II: Global, Environmental, and Market Trends

GLOBAL TRENDS

Retail Trends in Europe

The New Role of Retailing

What Is Changing?

The Implications of the Changes

Why Is Retailing Changing?

Synthesis and Conclusion

Acknowledgement

References

Trends in U.S. Retailing

Introduction

General Trends in U.S. Retailing

Consumer Trends

Retail Industry Trends

Trends in U.S. Food Retailers

Trends in U.S. General Merchandise Retailers

Trends in Non-store Retailing

Multi-channel Retailing

The Future of Retailing

References

Trends in Retailing in East Asia

Introduction: The East Asian Retail Market

Economic Background

Retailing in East Asia

Internationalization of Retail Markets in Asia

Eastern or Western?

Japanese Activity in China

Three Stages of Expansion in Asia

Conclusion

References

ENVIRONMENTAL TRENDS

Future Store Technologies and Their Impact on Grocery Retailing

Introduction

Personal Shopping Assistants and Interactive Kiosks

The Intelligent Weighing Scale

Digital Advertising Displays

Elecronic Price Tags

RFID

Assessment of Technologies

Conclusions and Discussion

References

The Third Wave of Marketing Intelligence

Introduction

The Advent of Customer Experience Management

Research Applications

Challenges and Opportunities

Conclusion

References

Applications of Intelligent Technologies in Retail Marketing

Introduction

Key Characteristics of Intelligent Technologies

Retailing Applications of Intelligent Technologies

Future Research Directions

Conclusions

References

New Automated Checkout Systems

Introduction

New Automated Self-Checkout Systems

Acceptance as a Precondition for Market Success

Empirical Results on the Acceptance of New Automated Checkout Systems

Implications: Measures to Increase Customer Acceptance

References

MARKET TRENDS

Understanding Retail Customers

Introduction

Retrospect

Prospects

Retrospect and Prospect: An Assessment

Conclusions

Acknowledgments

References

Future Trends in Multi-channel Retailing

Introduction

Characterizing Consumer Behaviour

Individual Consumer Benefits from Different Store Formats and Channels

Complex Retail Trade – How Can Retailers React?

Management Tools and Application in Market Research

Customer Loyalty

Outlook

References

Retail Competition

Introduction

The Impact of Nontraditional Formats

Retail Price Competition

Retail Variety Competition

Retail Assortment Competition

Retail Location Competition

Final Questions About the Future of Retail Competition

References

PART III: Trends in Retail Management

PEOPLE

New Challenges in Retail Human Resource Management

Why Do We Need Professional Human Resource Management in Retailing?

Changes

Changing Role of HR Departments

Building the Future – HRM Challenges for Retailers

Current HR Challenges

Approaches to HR Challenges in Retailing Practice

The Future of HRM and Final Remarks

References

PRODUCT

Retail Assortment: More Better

How Do Consumers Perceive Assortment?

How Should Assortments Be Organized?

How Does Assortment Affect Product Choice?

How Do Marketing Mix Variables Interact with Assortment?

Summary and Conclusion

References

Out-of-Stock: Reactions, Antecedents, Management Solutions, and a Future Perspective

Introduction

Some Empirical Findings

Implications for Retailers

Policies to Mitigate Effects of OOS

Conclusion

References

PRICING

Recent Trends and Emerging Practices in Retailer Pricing

Changing Retail Environment

Retail Consolidation and Its Effects on Retailer Pricing

How Changing Manufacturer Practices Influence Retailer Pricing

How Advances in Technology and Innovation Influence Retail Pricing

How the Emergence of E-Tailers Is Influencing Retailer Pricing

Current Pricing Practices

How Retailers Should Approach Pricing

Pricing Strategies in the Future

Summary

References

Retail Pricing – Higher Profits Through Improved Pricing Processes

The Retailing Industry Crisis and How to Get Out of It

The Paradigm Shift: From Price Optimization to Pricing Process Improvement

Current Pricing Practices in Retailing

Reorganizing the Pricing Process in Retailing

Conclusion

References

DISTRIBUTION (PLACE)

Current Status and Future Evolution of Retail Formats

Introduction

Classification of Retail Formats

Analysis of Retail Formats in G8 Countries

Future Trends in Retailing

Conclusion

References

Electronic Retailing

Introduction

Potential Growth of Electronic Retailing

Electronic Retailing Issues

Evolution of Electronic Retailing

References

OPERATIONS, PROMOTION, AND MARKETING COMMUNICATIONS

Supply Chain Management in a Promotional Environment

Introduction

Supply Chain Coordination

Improving Promotion Forecast Accuracy and Collaborative Planning

The S.M.A.R.T.S. Model

Management Summary

References

Sales Promotion

Introduction

Promotion Instruments

Effects of Promotions

Future Developments

References

Understanding Customer Loyalty Programs

Introduction

A Framework for Organizing the Different Types of Programs

Conceptual Objectives of LPs

Summary and Outlook

References

Integrated Marketing Communications in Retailing

Introduction

Genesis and Definition of IMC

Standard Model of Multimedia Communications

Integrated Marketing Communications Framework

Extending IMC to Uncertain Environments

IMC and Smart Retailing

References

About the Editors

About the Authors