Author: Nitish Jain Publisher: ISBN: Category : Languages : en Pages : 43
Book Description
Multiple online channels allow a retailer to cover a wider range of situational purchase settings but also expose it to a more complex spectrum of consumer purchase behavior. Compared with the conventional desktop computer-based Web channel, the mobile-based application channel enables retailers to understand consumers better and, also, makes them more vulnerable to impulse purchases. The unique features of consumer experience and purchase behavior in each online channel raise the question of whether these channels should be managed jointly or separately. This study seeks to identify retail settings that favor a particular organizational choice. The extant literature on multi-channel retail has paid scant attention to differences between these primary online channels. Our study helps to fill this gap, and it aims to equip retailers with a simple tool for comparing the organization's choices with regard to managing sales across the two channels.We build a parsimonious model that captures key aspects of consumers' impulsive purchase behavior across various product types and two different online channels. In this model, the consumer's utility from purchasing a product via a particular channel consists of two correlated components: a channel-independent "base'' component and a channel-specific "impulsive'' component. We use this model to examine retailer performance when pricing is delegated to managers under separate-channel and joint-channel management schemes.We find that products which induce impulsive purchase behavior strongly correlated with the base product valuation, such as high-value hedonic products, favor the joint-channel setup. In contrast, products with strong negative correlation between the base and impulsive valuation components, such as high-end durables, do better under separate-channel management. Online retailers should carefully curate their delegation strategies to manage the interplay between channels' natural differences and the product characteristics that shape how consumers' impulsive purchase behavior is related to their base valuations.
Author: Pirmin Sessler Publisher: GRIN Verlag ISBN: 3656475970 Category : Business & Economics Languages : en Pages : 144
Book Description
Master's Thesis from the year 2012 in the subject Communications - Public Relations, Advertising, Marketing, Social Media, grade: 6,0, University of St. Gallen (Institute of Retail Management), language: English, abstract: The purpose of this thesis is to examine impulse buying from the consumer’s perspective, pinpoint criteria that help to identify impulse shoppers, and help retail managers increase the level of impulse buying in their stores. Two studies were conducted: An online study (N=72), and a field study in a drugstore that comprised 111 participants. The extant literature on impulse buying was comprehensively reviewed to give the reader profound background knowledge. The online study yielded rich descriptions of consumers’ definitions of impulse purchases and self-reported impulse purchase episodes. Both studies corroborated the important role of emotions in impulse buying and identified the most prevalent emotions. The pervasiveness of a variety of impulse buying motives was determined, as well as the importance of different retailer-related buying determinants. The field study also served to detect seven variables, out of fifteen, that help to distinguish impulse shoppers. The author addresses the studies’ limitations, indicates promising future research avenues, and derives managerial implications from the studies’ results. The thesis provides insights into shoppers’ view of impulse buying and serves as a starting point for retail managers seeking to increase the level of impulse purchasing in their stores.
Author: Thomas Rudolph Publisher: Walter de Gruyter GmbH & Co KG ISBN: 3110417227 Category : Business & Economics Languages : en Pages : 93
Book Description
New digital devices enable consumers to ubiquitously access the Internet and inspire them to switch between online and offline channels when shopping – a phenomenon extant research on consumer behavior terms cross-channel shopping. This considerable change in consumer behavior offers great potential for retailers worldwide to strengthen their competitiveness. Today, retail incumbents aspire to integrate their channels to offer compelling switching opportunities among all online and offline channels – an approach we coin cross-channel management. However, addressing cross-channel shoppers may entail a rise in business model complexity which can only be tackled by installing a firm-wide strategic change process. Set against this transformative background, this book offers insight into how firms can overcome said inertia and successfully transform their current channel specific business model to a much more integrated system of online and offline channels. With the help of 71 interviews with top and middle managers in retailing, this book derives a variety of recommendations in the field of cross-channel management for retailers and manufacturers.
Author: Lynda Rose Poloian Publisher: Bloomsbury Publishing USA ISBN: 1501316001 Category : Design Languages : en Pages : 584
Book Description
As one of the first textbooks to present a comprehensive view of multichannel retailing-the practice of trading through several selling channels concurrently-Multichannel Retailing is critical for any student preparing for today's job market. This timely and compelling textbook identifies and explains the underlying principles of e-retailing and its relationship with conventional retail methods. Strategic integration of brick-and-mortar stores, electronic retailing, and direct marketing methods form the core of the text. Multichannel Retailing examines the roots of the multichannel approach, analyzes key players, and explores the techniques that are used to develop effective online stores and synchronize cross-channel functions. This book is a guide to implementing and operating a successful e-retailing business, and it offers ideas and solutions for expanding the cross-channel capabilities of traditional retail operations. Instructors, contact your Sales Representative for access to Instructor's Materials.
Author: Carina Sauter Publisher: GRIN Verlag ISBN: 3668118493 Category : Business & Economics Languages : en Pages : 93
Book Description
Bachelor Thesis from the year 2014 in the subject Business economics - Supply, Production, Logistics, grade: 1,1, IE Business School, Madrid, course: Production & Supply Chain Management, language: English, abstract: This thesis is a description of the state of the art of the Omnichannel retail strategy with a focus on the changes necessary in supply chain design. Its purpose is to provide a comprehensive overview on omnichannel retailing that can serve as a first source of information for companies thinking about adapting this strategy. There is no single external source that combines the description of omnichannel retailing with details of how to implement this strategy yet, so this thesis makes it significantly easier for retailers to familiarize with the topic and get impulses for further research. The introduction shows the developments that led to the strategic move, which eases understanding the concept and its purpose. The thesis finds that technological innovations, changing shopping behavior, increasing expectations, and intensifying online competition were the major drivers affecting this shift. It continues to describe the common omnichannel initiatives before it gets into more detail on what supply chain and logistics changes are necessary to support them. First, it shows that the application of RFID technology and IT platforms creates an end-to-end transparent supply chain, which delivers the core capability to pursue this strategy: complete inventory visibility. Second, the solutions to improve fulfillment speed are presented. Both upgrades in order processing inside the warehouse and innovative last mile solutions are discussed in detail. Describing the benefits of omnichannel retailing, the paper shows that it perfectly meets the requirements of today’s retailers. Not only does the strategy improve profitability and productivity, it also helps them meet expectations, learn more about their customers and use this knowledge to sustainably compete in the market. It also finds that there are significant challenges to overcome before reaping these benefits. Large investments and added complexity need to be faced during setup and a non-aligned organization and the inability to engage employees are major problems during execution. As the retail environment evolves at a rapid pace, the paper finally presents strategies for companies that have fully developed omnichannel capabilities. These ensure that retailers can also compete once omnichannel is the new normal.
Author: Huan Liu Publisher: ISBN: 9781680834956 Category : Marketing Languages : en Pages : 79
Book Description
The emergence of multiple channels is reshaping consumers' purchase behavior and retailers' marketing styles. We synthesize existing research on multichannel retailing based on more than 150 articles published in peer-reviewed marketing journals, most after 2006. From this synthesis, we reveal conditions under which both consumers and retailers can benefit from a multichannel context. More specifically, we identify multichannel retailing as a win-win game contingent on market environments, retailer characteristics, channel attributes, product categories, social and situational factors, and customer heterogeneity. Last, we highlight multiple directions for future research.
Author: Gerrit Heinemann Publisher: Springer Nature ISBN: 3658407573 Category : Business & Economics Languages : en Pages : 519
Book Description
This book presents developments and future trends in e-commerce, which is shaped by customers' new digital communication and consumption patterns. Gerrit Heinemann sheds light on e-commerce business models, channel excellence as well as success factors such as digital time advantages and customer centricity. He analyzes the digital challenges and highlights the consequences and opportunities associated with online commerce. Recognized best practices illustrate how successful digital commerce works and what the "lessons learned" of the past years are. The 13th edition describes which new approaches will shape the future of online retail and which developments will remain long-term issues. While, for example, app and smartphone commerce, including mobile payment, continue to be long-running issues, the environmental issue is coming at online commerce with a concentrated charge. This means that people's growing need for more sustainability and consideration for the environment has now also arrived in e-commerce. This work is therefore devoted to sustainable e-commerce in the context of online logistics, which runs counter to the new trend towards quick commerce. The topics of climate neutrality and returns management are also increasingly coming into focus. In addition, current topics such as the marketplace theme and social commerce will be explored in greater depth. Furthermore, numerous new legal requirements are taken into account, which place increased obligations on marketplace operators in particular. The content - Meta-targeting and business ideas in online retailing - Business model of online trade - Forms of online trade - Business systems and benchmarks in e-commerce - Best practices and risks in online retailing
Author: Utpal Dholakia Publisher: ISBN: 9780999186718 Category : Languages : en Pages :
Book Description
Pricing decisions are among the most important and impactful business decisions that a manager can make. How to Price Effectively: A Guide for Managers and Entrepreneurs introduces the value pricing framework, a structured, versatile, and comprehensive method for making good pricing decisions and executing them. The framework weaves together the latest thinking from academic research journals, proven best practices from the leading pricing experts, and ideas from other fields such as medical decision making, consumer behavior, and organizational psychology. The book discusses what a good pricing decision is, which factors you should consider when making one, the role played by each factor-costs, customer value, reference prices, and the value proposition- and how they work together, the importance of price execution, and how to evaluate the success of pricing decisions. You will also be introduced to a set of useful and straightforward tools to implement the value pricing framework, and study many examples and company case studies that illustrate its nuances. The purpose of How to Price Effectively: A Guide for Managers and Entrepreneurs is to provide you with a comprehensive, practical guide to making, executing, and evaluating pricing decisions.
Author: Elaine L. Ritch Publisher: Emerald Group Publishing ISBN: 1839095547 Category : Business & Economics Languages : en Pages : 252
Book Description
Digital communication has altered the flow of global information, evolved consumer values and changed consumption practices worldwide. New Perspectives on Critical Marketing and Consumer Society provides an illuminating, challenging and thought providing guide for all upper-level students of marketing, branding and consumer behaviour.
Author: Gerrit Heinemann Publisher: Springer Nature ISBN: 365838316X Category : Business & Economics Languages : en Pages : 390
Book Description
This book shows stationary retail a way to reinvent itself after Corona, in order to be able to survive against the strong competition of online retail. The focus is on the central issues that will shape the retail of the future. For example, brick-and-mortar retail in particular must now work with intelligent systems based on data and adopt or even surpass methods that the large online marketplaces have been using successfully for a very long time. In this regard, artificial intelligence also plays a major role in retail. This is not just about automation and robots taking over tasks, but also about instruments and machines being able to learn and draw conclusions themselves in all retail functions. This is becoming increasingly difficult because our shopping and search behavior is constantly changing. Therefore, a customer should receive intelligent recommendations in the store, which are also based on his already known interests and behavior patterns. Gerrit Heinemann shows how intelligent action can save stationary retail in city centres and shopping centres. The content - From stationary Retail to intelligent Retail - Threats to the stationary retail trade - Basic requirements and manifestations of intelligent Retail - Examples of intelligent retail of the future - Risks for intelligent Retail
Author: Nitish Jain
Author: Pirmin Sessler
Author: Thomas Rudolph
Author: Lynda Rose Poloian
Author: Carina Sauter
Author: Huan Liu
Author: Gerrit Heinemann
Author: Utpal Dholakia
Author: Elaine L. Ritch
Author: Gerrit Heinemann