This book provides an introduction to the current digital (r)evolution in the economy, based on the example of the retail industry as a part of the service sector, and presents strategies and new technologies for the successful management of the digital transformation. In keeping with the highly discussed term "Industry 4.0," the book showcases the ongoing dramatic changes in the retail industry, summarized under the concept of "Retail 4.0." Authors from science and industry alike discuss how the traditional retail industry can adapt to digitization and how, besides new competition from pure eCommerce players, new opportunities to fascinate consumers with new smart services are arising. In this context, the book discusses changes in business models and value chains, new processes and technologies, and the transformation of the enterprise as a whole (with its employees).
In addition, the book puts forward key strategies, especially those designed to help mainly stationary retailers compete with the rapidly growing revenues of online trade and eCommerce. It introduces an intelligent blend of traditional, stationary trading with eCommerce, and online trading components. It presents concrete examples of how integrated processes and technologies, data management, suitable equipment and trained sales staff can pave the way for smart services. The book shows practical approaches to successful transformation and a number of cases from leading retail companies. Given its combination of recent research findings and best practices, the book offers a valuable read for both managers and researchers.
