New Concepts for Efficient Consumer Response in Retail Influenced by Emerging Technologies and Innovations

Abstract

The retail industry is continuously confronted with new challenges and experiences a transformation from a supplier’s market to a buyer's market. It is, thus, essential for the retail industry to consequently focus on, anticipate and fulfil consumer’s demands. Technologies and innovative business solutions can help to support to establish a required customer experience and, thereby, gain a competitive advantage. A multitude of new services and products, channels as well as players can already be identified which drive the transformation. Therefore, retailers need to understand current trends and technologies and identify as well as implement relevant solutions for their transformation since otherwise, new players will dominate the market. Hence, this dissertation aims to review and analyse new technologies which are coupled with innovative business activities in order to provide customer-centric retailing. For this purpose, this dissertation consists of five articles and derives four major contributions which introduce different approaches to establishing consumer satisfaction. Firstly, a core technology for retail is artificial intelligence (AI) which can be meaningful applied along the entire value chain and improve retailers’ positions. Two focus areas have been identified in this context which are (i) the optimisation of the entire retail value chain with the help of AI with the aim to derive transparency and (ii) the improvement of consumer satisfaction and relationship. Secondly, focussing on the consumer-retailer relationship in the digital era, a concept with a data architecture is proposed based on a real use case. The outcome was that a specific customer orientation based on data can increase the brand value and sales volume. Thirdly, the work presents that new shopping concepts, named unmanned store concepts, gain continuous growth. Unmanned store concepts employ a variety of new technologies, are characterised by attributes of speed, ease, as well as comfort, and are deemed to be the new ideal of the expectations of modern buyers. Two different directions have been deeper analysed: (i) walk-in stores and (ii) automated vending machines. The critical success factors for the usage of unmanned store solutions are distance as well as high consumer affinity for innovations. In times of the COVID-19 pandemic, which has a huge impact on retail, a continuous innovation capability still needs to be established. Finally, this work introduces a tool for systematic innovation management considering the current circumstances. Taken as a whole, this dissertation with its five articles deals with significant research questions which have not been approached so far. Thereby, the literature is extended by the introduction of novel insights and the provision of a deeper understanding of how retailers can transform their business into a more consumer-oriented way