Future of Retailer Profitability: An Organizing Framework |
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| Institution: | 1. Centre for Excellence in Brand and Customer Management, J. Mack Robinson College of Business, Georgia State University, Atlanta, GA, United States;2. HUST, China;3. Texas A&M University Institute for Advanced Study, College Station, TX, United States;4. Indian School of Business, Hyderabad, India;1. School of Business, Eastern Illinois University, Charleston, IL 61920, USA;2. College of Business, City University of Hong Kong, Kowloon, Hong Kong;1. Dyson School of Applied Economics and Management, Cornell University, United States;2. Cornell Food and Brand Lab, Cornell University, United States;1. University of Arkansas;2. Babson College;1. Katz Graduate School of Business, University of Pittsburgh, United States;2. Carroll School of Management, Boston College, United States;1. Stephen M Ross School of Business, University of Michigan, 701 Tappan St., Ann Arbor, MI 48109-1234, USA;2. Darden School of Business, University of Virginia, 100 Darden Blvd., Charlottesville, VA 22903, USA;3. College of Administrative Sciences and Economics, Koç University, Rumelifeneri Yolu, Sarıyer, İstanbul 34450, Turkey |
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| Abstract: | Retailers are dynamic in nature, and their strategies keep evolving with changing scenarios and availability of new technologies. In the current scenario, there is a need for a comprehensive and organizing framework for retailers to develop and implement a complex set of strategies. In this article, we broadly categorize retailers’ implementation of strategies at four levels—market, firm, store and customer. The four-level categorization has been done using a triangulation approach consisting of inferences from previous literature, interviews with practitioners, and reviewing popular press. In the future, retailers will expand to even more countries, and there will be plenty of scope for using advanced technologies and big data. This organizing framework accommodates for any such changes as well as guides retailers about ways of increasing profitability in the future. In this article, we also provide generalized expectations of strategies under each level which not only can be used by researchers as a direction of future research but also by practitioners to understand and implement their strategies in an effective and efficient way. |
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| Keywords: | Retailer strategies Retailer Profitability Global expansion Technological advancements Developed economies Emerging economies |
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