DIGITIZATION IN THE RETAIL INDUSTRY: INSIGHTS ON THE POSSIBILITIES BEYOND E- COMMERCE & THE DRIVING FORCE BEHIND ITS OMNI- CHANNEL GROWTH
Journal Title: International Journal of Sales & Marketing Management Research and Development (IJSMMRD) - Year 2017, Vol 7, Issue 2
Abstract
The ongoing process of ‘digitization’ has been one of the greatest catalysts leading to transformation in today’s contemporary society. Changes that have occurred in the retail sector due to the impact of ‘digitization’ have in turn resulted in the creation of greater and deeper business opportunities for the newcomers by aiding them to construct and effectively deploy a business model. The most important element in this development process is that the business model is both sustainable and scalable – the two most important characteristics of any successful approach. By implementing a simple technology in order to monitor the levels of shopping behavior, one could successfully bridge the gap between the online and the offline world. ‘Digitization’ over the recent years has become an asset of growth due to its great focus on the various forms of strategic importance that are responsible for improvising the concepts in new businesses, which in turn has helped in achieving greater levels of profit. The impact of ‘digitization’ considerably appears to be deeper and goes far beyond any silo concept of e- commerce such as B2B, B2C, P2P et al. The increase in the usage of digital devices with the Internet over the recent years has led to the transformation in the consumer practices and their shopping behavior. The paper analyzes the need to develop a structural framework for enhancing the process of ‘digitization’ in the retail industry, which in turn would be beneficial, as it would be having far reaching effects on suppliers, retailers, consumers and employees.
Authors and Affiliations
PUSHP LAMBA, SHRUTI POLLOCK
Keywords
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