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Implementation Strategies Of A Modern Showroom Concept For Retailers With A Wide Range Of Products

Author

Listed:
  • Fabian SCHMIDTKE

    (Baden-Wuerttemberg Cooperative State University (DHBW), Mannheim, Germany)

  • Patrick SIEGFRIED

    (International School of Management GmbH, Frankfurt/Main, Germany)

Abstract

This paper suggests a new business model based on modern technology for retail. In the age of digitalization, stationary retail is losing market shares to online retail. Therefore, there is an obvious need for change in businesses. The concept developed in this paper combines the strengths of online and stationary retail to benefit stationary retail. In the approach taken in this paper, the basis for change is modern technology. Finding innovative ways to use technologies like NFC, AI, and robotics is regarded as the key factor to sustainable success. As the implementation of modern technologies entails a particular investment, the customers’ opinion on structural changes like these has been included in the consideration. Therefore, a survey has been conducted to find out which level of innovation current customers are willing to accept thus emphasizing the need for certain changes and dissuading specific others. The result of this paper is the modern showroom concept which takes the customers’ opinion into account while implementing the right amount of technology that should pave the way to a sustainable future for stationary retail.

Suggested Citation

  • Fabian SCHMIDTKE & Patrick SIEGFRIED, 2022. "Implementation Strategies Of A Modern Showroom Concept For Retailers With A Wide Range Of Products," Management and Marketing Journal, University of Craiova, Faculty of Economics and Business Administration, vol. 0(1), pages 7-22, May.
    • Handle: RePEc:aio:manmar:v:xx:y:2022:i:1:p:7-22
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    File URL: http://mnmk.ro/documents/2022_1/1-14-1-22.pdf
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    References listed on IDEAS

    as
    1. Patrick Siegfried & Zhu Quankun, 2022. "The Development Prospect Of Retail Virtual Store," Malaysian E Commerce Journal (MECJ), Zibeline International Publishing, vol. 6(1), pages 14-16, February.
    2. Mohammad Rashid SAADAT & Patrick SIEGFRIED, 2021. "Impact Of Big Data On Business Intelligence And Decision Support Systems," Network Intelligence Studies, Romanian Foundation for Business Intelligence, Editorial Department, issue 18, pages 145-152, December.
    Full references (including those not matched with items on IDEAS)

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    Cited by:

    1. Ionut Marius CROITORU & Nicoleta Daniela IGNAT & Paula Paraschiva SPIRIDON & Luciana DRAGOMIR & Maria Valerica SOLOIU & Alexandra BRATILOVEANU, 2023. "Bibliometric Analysis Of Investment Classification Criteria," Management and Marketing Journal, University of Craiova, Faculty of Economics and Business Administration, vol. 0(2), pages 241-258, November.

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      More about this item

      Keywords

      AI; digitalization; NFC; retail; technology;
      All these keywords.

      JEL classification:

      • M30 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Marketing and Advertising - - - General
      • M31 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Marketing and Advertising - - - Marketing

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