Customer Value and Value for Customer – Retail Sector’s Need for Transformation

During the last years, declining revenues in stationary retail can be observed. Strong price sensitivity of customers is reinforced by various technical progress driven opportunities of digital price comparison and participation of consumers in virtual networks. Whilst influence of digital media increasingly gains more importance for decision-making behavior, particularly social media therewith becomes a key aspect of success in retail sector. A major challenge for retailers in the near future is how to use already existing social networks of shoppers. Due to the economic importance and its market relevance, this article focuses on the Point Of Sale (POS) in stationary retail with regard to Consumer-Packaged Goods (CPG).

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IBIMA Publishing