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Emerging Market Retail: Transitioning from a Product-Centric to a Customer-Centric Approach
Journal of Retailing ( IF 8.0 ) Pub Date : 2021-03-23 , DOI: 10.1016/j.jretai.2021.01.008
Shaphali Gupta , Divya Ramachandran

In an environment with digital disruptions, retailers must adopt a customer-centric approach to survive and compete effectively. Retailers need to be agile and forward-looking in adopting the relevant analytics and performance metrics to bring a customer-centric approach across upstream and downstream activities in the retail value chain. However, retailers in emerging markets (EMs) need clarity on the specific analytics and performance metrics in the value chain that will enable them to transition from their current product-centric state to the desired customer-centric state. Employing a triangulation approach (i.e., literature review, marketplace evidence, and managerial interviews) in the fragmented retail landscape of EMs, this study provides an organizing framework that explains: (i) the need for a customer-centric approach across the retail value chain, (ii) the specific performance metrics that need to be adopted across upstream and downstream activities in the retail value chain to enable EM retailers to achieve their desired customer-centric state, and (iii) the role of analytics in providing insights to achieve these performance metrics and improving monetary and non-monetary firm performance outcomes. We also provide firm-specific and macro-level conditions that can influence the EM retailers’ adoption of relevant analytics and explain the different paths retail formats can follow to adopt analytics. We present a strategy matrix that enables retail managers to identify the appropriate analytics to be adopted at different retail value chain stages to achieve desired performance metrics. We also highlight future research opportunities in retailing in EMs.



中文翻译:

新兴市场零售:从以产品为中心向以客户为中心的方法转变

在数字化颠覆的环境中,零售商必须采用以客户为中心的方法才能有效地生存和竞争。零售商在采用相关分析和绩效指标时需要灵活且具有前瞻性,以便在零售价值链的上游和下游活动中采用以客户为中心的方法。然而,新兴市场 (EM) 的零售商需要明确价值链中的具体分析和绩效指标,这将使他们能够从当前以产品为中心的状态转变为所需的以客户为中心的状态。本研究在新兴市场分散的零售环境中采用三角测量方法(即文献综述、市场证据和管理访谈),提供了一个组织框架,解释了:(i) 整个零售价值链需要采用以客户为中心的方法,(ii) 需要在零售价值链的上游和下游活动中采用的特定绩效指标,以使新兴市场零售商能够实现其期望的以客户为中心的目标状态,以及 (iii) 分析在提供洞察力以实现这些绩效指标和改善货币和非货币公司绩效结果方面的作用。我们还提供了可能影响新兴市场零售商采用相关分析的公司特定和宏观层面的条件,并解释了零售业态采用分析可以遵循的不同路径。我们提出了一个战略矩阵,使零售经理能够确定在不同零售价值链阶段采用的适当分析,以实现所需的绩效指标。

更新日期:2021-03-23
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