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The Retail Innovation Environment

TheRetail Innovation Environment

TheRetail Innovation Environment

Overthe years, the retail business has witnessed tremendous changes thathave resulted from innovations in this sector. There are many factorsthat determine the changes in the retail environment. Retailers oftoday can be regarded different from past retailers in a number ofways these differences have emanated from various innovations thathave altered the practice of retail business globally. Retailers ofyesterday used salespersons to market their products. As such, peoplecould go to stores without any prior information of what they want tobuy. There was a lot of reliance on the advice of the salesrepresentatives and the priorities of buyers were determined by theadvice they received. Today, the retail business has changed in thisaspect as shoppers can conduct research and get to know about aproduct before purchasing it. Retailers have resulted to using webtools such as the internet and websites, which act as a link betweenthe retailer and the customer. Stiff competition has contributed tothe use of online marketing (Reynolds et al, 2007).

Today,consumers can inspect products through interactive video andascertain whether the products are of the quality they desire.Through Google shopping, consumers can inspect items and ascertainthe components of the items they want. To some extent, some retailersgive customers a chance to try the products and see whether they meetthe required standards. This was not the case with retailers of thepast. Although retailers of yesterday gave customers an opportunityto research for products, there was no chance for the buyers to feel,or even inspect the products stocked in a store. This meant thatbuyers could not experience the products without purchasing themfirst (Reynolds et al, 2007).

References

Reynolds,J., Howard, E., Cuthbertson, C. &amp Hristov, L. (2007).Perspectives on retail formatinnovation: relating theory andpractice. InternationalJournal of Retail and Distribution Management 35(8),647-660