Journal
CALIFORNIA MANAGEMENT REVIEW
Volume 63, Issue 1, Pages 99-117Publisher
SAGE PUBLICATIONS INC
DOI: 10.1177/0008125620953639
Keywords
business models; co-creation; customer experience; innovation; omni-channel
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Funding
- European Commission under the Erasmus Mundus Action 1 program
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Traditional retail practices are under stress as retailers ponder various ways of setting up a sustainable omnichannel business model. A significant challenge in their endeavor relates to the blurring lines between physical and digital worlds. This article analyzes three retailers' exploratory efforts of alternative physical retail spaces. There are five key innovation areas to revamp for such a retail store: in-store technology, the role of sales associates, leveraging a mobile channel, data analytics, and collaborations. Moreover, physical retail space can serve as an aggregation hub that connects various retailer-customer interaction points across physical and digital spaces.
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