Beset by the digital revolution successful retailers embrace technology that enhances customer value. Issue 6 (21st November 2016)

• Record Type: Journal Article
• Authors: Blitz, Amy
• Is Part Of: Strategy and leadership. Volume 44:Issue 6(2017)
• Page Start: 16
• Page End: 24
• Publication Date: 2016-11-21
• Subjects: retail strategy -- big data -- design partnerships -- digital retail technology -- social media presence -- Target%2C Kohl%u2019s%2C JC Penney and Sears; Industrial management -- Periodicals; Strategic planning -- Periodicals; 658.4012
• DOI: 10.1108/SL-09-2016-0073
• Languages: English
• ISSNs: 1087-8572

Abstract

Abstract : Purpose: The authorseeks to identify what strategies are successful companies using to navigate this ever-evolving retail landscape? And what strategies and best practices can be learned from the retail sector for thriving amid major economic transformations such as the current one? Design/methodology/approach: To help explain the divergence in performance across U.S. retailers given the same general macro context, the research focused on four companies – Target, Kohl's, JC Penney and Sears. Findings: Successful retailers focused on using technology to build value for customers first, and as a result shareholder value ensued. Practical implications: One key indicator of the connection between a company and its customers is the effectiveness of its social media presence. Originality/value: The article presents evidence that in order o leverage the full power of technology, retailers must make strategic investments in technology that enable them to understand who their customers are; determine what their customers most need and offer products and services that address these needs seamlessly in stores and online.