Technology: a strategic imperative for successful retailers
International Journal of Retail & Distribution Management
ISSN: 0959-0552
Article publication date: 28 February 2023
Issue publication date: 24 March 2023
Abstract
Purpose
In the aftermath of the COVID-19 pandemic, technology is rewriting the way consumers shop as well as the retail operating models. In this context, investment in new technologies is a strategic imperative for retailers striving to remain relevant and profitable. Using Kahn's Retail Success Matrix as the conceptual framework, the aim of the study is to propose a classification of emerging technologies based on their potential for sustaining retailers' competitive strategies.
Design/methodology/approach
Following an initial qualitative study based on in-depth interviews and focus groups with 20 retail managers, the authors collected survey data from a sample of 168 retail and technology professionals. To achieve the research objectives, content, descriptive and multiple correspondence factor analyses were carried out.
Findings
The data analyses result on a map that plots the technological solutions that retail experts identify as enablers of four key competitive strategies: product superiority, enhanced customer experience, frictionless shopping experience and operational excellence.
Practical implications
This research work provides valuable insight into how retail companies can capitalise on technology to create or reinforce their competitive positioning. The framework acts as a guide for retail companies to assess their technology priorities.
Originality/value
This exploratory empirical study is the result of a collaboration between academic researchers and retail professionals. Thus, it addresses challenges experienced by key stakeholders. The encompassing classification enables a better understanding of the impact of technology on retailers' competitive positioning.
Keywords
Acknowledgements
This study was conducted under the framework of the research group TECHNOCONS ‘Consumer Behaviour and Technology’, Universidad Autónoma de Madrid (UAM). The authors would like to thank iKN Spain for their support. The authors appreciate the participation of executives from the following retailing companies: Aki, Carrefour, C&A, Douglas, Kiabi, Leroy Merlin, Neck&Neck, Trucco, Pisamonas, Sánchez Romero, SoySuper and Verdecora.
Funding: This work was supported by the Spanish Ministry of Science and Innovation (Funding Agency #1) under Grant PID2020-113561RB-I00. This study benefited from the Professorship Excellence Program in accordance with the multi-year agreement signed by the Government of Madrid and the Autonomous University of Madrid (Line #3).
Citation
Quinones, M., Gomez-Suarez, M., Cruz-Roche, I. and Díaz-Martín, A.M. (2023), "Technology: a strategic imperative for successful retailers", International Journal of Retail & Distribution Management, Vol. 51 No. 4, pp. 546-566. https://doi.org/10.1108/IJRDM-03-2022-0088
Publisher
:Emerald Publishing Limited
Copyright © 2023, Emerald Publishing Limited