Author
Listed:
- Nymisha Bandi
- Maxime C. Cohen
- Saibal Ray
Abstract
Shoppers face numerous decisions about which products to purchase, as the number of available options grows. To navigate this complexity, retailers deploy a range of tactics aimed at influencing customer behavior and guiding them toward specific purchases. Understanding customer behavior in both online and brick-and-mortar settings requires an understanding of customer psychology, including the factors that drive purchase decisions and responses to promotions. Retailers strategically use data to analyze patterns and employ tools from business analytics and machine learning to identify key influences on shopping behavior. These insights often rely on detailed consumer information, such as demographics, historical purchases, and reactions to past promotions, alongside broader social, cultural, and psychological factors. In this monograph, we reviewed decades of research on retail tactics used to influence consumer choices, focusing on price, promotion, and place. We examined the nuances of pricing strategies, including psychological effects, framing techniques, and price perception, as well as in-store promotions and design strategies that shape the shopping environment. Additionally, we explored digital retail tactics such as web design, product recommendations, and user ratings. Our goal was to connect research with practical strategies, providing a comprehensive review and suggesting future research directions at the intersection of consumer psychology and retail strategy.
Suggested Citation
Nymisha Bandi & Maxime C. Cohen & Saibal Ray, 2024.
"Behavioral Retail Operations: Tactics to Win Customers,"
Foundations and Trends(R) in Technology, Information and Operations Management, now publishers, vol. 18(3-4), pages 214-420, November.
Handle:
RePEc:now:fnttom:0200000111
DOI: 10.1561/0200000111
Download full text from publisher
Corrections
All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:now:fnttom:0200000111. See general information about how to correct material in RePEc.
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
We have no bibliographic references for this item. You can help adding them by using this form .
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Lucy Wiseman (email available below). General contact details of provider: http://www.nowpublishers.com/ .
Please note that corrections may take a couple of weeks to filter through
the various RePEc services.