Reshaping Retail [electronic resource] : Why Technology is Transforming the Industry and How to Win in the New Consumer Driven World

Cover image for Reshaping Retail [electronic resource] : Why Technology is Transforming the Industry and How to Win in the New Consumer Driven World

ISBN:

9781118698884

Title:

Reshaping Retail [electronic resource] : Why Technology is Transforming the Industry and How to Win in the New Consumer Driven World

Author:

Niemeier, Stefan.

Personal Author:

Niemeier, Stefan.

Publication Information:

Hoboken : Wiley, 2013.

Physical Description:

1 online resource (210 p.)

General Note:

Description based upon print version of record.

Contents:

Cover; Title page; Copyright page; Contents; Foreword; Introduction; Chapter 1: A Brief History of Retailing; The mercantile era; The modern era; The digital era; Chapter 2: Technology: The Crucial Retail Enabler; How retailers add value; Preselection; Demand aggregation; Sales advice; Physical movement of stock; Connecting the chain; Telecommunications; Electronic point-of-sale systems; Electronic data interchange; Knowing what you know; Data storage and retrieval; Digital analysis; A succession of evolutions; Chapter 3: Game-Changing Technologies; Revolution; Computing; Networking; Storage

The next era of technology changeMobility; Measurability; Agility; What it means for consumers; Chapter 4: Consumer Empowerment; The consumer decision journey; Customer empowerment tools; Mobile purchase and payment; Connections to social media; Retailers' response to consumers' changing behavior; Transparency; Convenience; Social media; Chapter 5: Toward A New Retailing Paradigm; The changing role of the physical store; Instant gratification; Experience products and brands; Convenience; Entertainment and social interaction; Find a solution; Buy it more cheaply; New contenders; Manufacturers

Logistics providersMagazines; Consumers; The power of information productivity; Progressive retailers show the way ahead; Chapter 6: The Future of Retail; Stand-alone archetypes; Lowest cost; Convenience-location; Convenience-preselection; Platform operator; Building on the stand-alone models; Experience; Exclusivity; Ecosystem; Chapter 7: A Call to Action; Leapfrogging; The way forward; Shift the mental model; Set a new aspiration for the business; Adapt the organization; Making it happen; The transformation challenge; Transformation principles; Acknowledgments; About the Authors; Index

Subject Term:

Electronic commerce.

Retail trade -- Customer services.

Retail trade -- Technological innovations.

Added Author:

Zocchi, Andrea.

Catena, Marco.

Format:

Electronic Resources

Electronic Access:

Click here to view book

Publication Date:

2013

Publication Information:

Hoboken : Wiley, 2013.

Available:*

Shelf Number	Material Type	Copy	Shelf Location	Status
EBL1211890	1:E-BOOK	1	1:ON-DEMAND	Searching... Unknown

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Summary

The modern retail system has worked to dazzling effect. From the 19th century, store owners emerged from small beginnings to set in train an industry that has seen some operators become nationally, even globally, dominant. Along the way, they turned retailing into an art, and then a science. Now retailers in emerging markets appear to be repeating the story all over again, except on a scale and at a speed beyond anything we have seen before.

Given all of this, it can be hard for those who work in retailing to accept that the industry as we know it is living on borrowed time, on the brink of transformation. There is now an urgency with which conventional store-based retailers must now act and the extent of the challenges this change represents in strategic, organizational, and above all, technological terms.

Reshaping Retail sets out the driving causes, current trends and consequences of a transformation in retail triggered by technology. The changes go far beyond making items available for sale on the internet. Starting by briefly setting the historical and business system contexts for retail and describe the role that technology has played in the creation of modern retail it then explains the underlying technological drivers behind the current revolution - radical changes in the capacity of both hardware and software, mobile telecommunications changes and the advances of the Internet.

Ultimately, success will hinge on more than competence; it will come down to a way of thinking. Customer-centricity will need to be valued not just by the store owner, as in the past, but also by all employees in the organization. It will need to become embedded in their daily tasks. The same applies to technology, which must be at the center of the organization and recognized as such by everyone.

With a combination of extensive desk and field research, interviews with leading retailers and technologists, together with the real world experience of practitioners in this area, Reshaping Retail will inspire and help store retailers to make the necessary transformation now to win in the new consumer driven world.

Author Notes

Stefan Niemeier is a Director of McKinsey & Company and leads its European "Technology in Retail" group. He has advised retailers around the globe and across many retail sub-sectors. Stefan holds a PhD in Economics and a Master in Business Administration.

Andrea Zocchi is a Director of McKinsey & Company where he leads the Consumer Practice in Southern Europe. Andrea is also an adjunct professor at IMT - Institute for Advanced Studies - in Lucca (Italy), where he holds a course on advanced problem-solving techniques for PhD students. Andrea holds a degree in Mechanical Engineering and prior to joining McKinsey, he worked for Hewlett Packard Italy.

Marco Catena is an Associate Principal of McKinsey & Company. He works with retail and mobile telecommunications players on commercial and performance transformation topics. Marco holds a PhD in Industrial Management and a Degree in Management Engineering.