In Redefining Retail: 10 Guiding Principles for a Post-Digital World, renowned international marketers Prof. Philip Kotler and Dr. Giuseppe Stigliano deliver a timely and insightful examination of retail and consumer brand marketing. In the book, you’ll find practical and concrete techniques for redefining your organisation’s internal operations and processes, as well as its business strategy. You’ll rethink the entire value chain as you consider the growing importance of sustainability, diversity and inclusion, working policies, and more.
The authors describe ten critical principles that should guide the actions of your company, whether you work with a startup, an SME, or a large, established organization. They also discuss: - The main challenges retailers face in a world that’s been fundamentally transformed by the digital revolution. - How to future-proof your marketing strategy, including 10 guiding principles for a new customer experience at retailers and consumer brands. - The opportunities and threats of creating a seamless customer journey in the physical, digital, and virtual realms.
Perfect for managers, entrepreneurs, consultants, and investors in both the B2B and B2C sectors, Redefining Retail: 10 Guiding Principles for a Post-Digital World will also prove invaluable to students of management, marketing and business administration, as well as anyone with an interest in the evolution of commerce.
Table of Contents
Introduction: Change Is the Only Constant xv
Retail: A Different Perspective xvii
Post- Digital: When Hype Meets Reality xxi
How We Got to Retail 5.0 xxviii
The Journey to Come xxxiv
Part I the Post- Digital Era 1
1 Running Backwards 3
Speed of Change 8
Reflection Summary Questions 10
2 Purpose, People, Planet - Therefore Profit 11
The Economic Imperative 14
Reflection Summary Questions 18
3 The Direct- to- Consumer (D2C) Revolution: A Double- Edged Sword 21
An Opportunity for Incumbent Brands 27
The Benefits of the Hybrid Model 32
In Summary 34
Reflection Summary Questions 36
4 Experiential Benchmarks 37
The Ever- Higher Bar of Expectations 41
Un(Fair) Competition 42
A New Market Modus Operandi? 45
Reflection Summary Questions 47
5 Making People Want Things Isn’t Enough 49
Making Sense of Data 54
The Privacy-Trust Equation 56
Reflection Summary Questions 58
6 Omnichannel Is Dead. Long Live Optichannel. 61
From Multichannel to Omnichannel 65
From Omnichannel to Optichannel 72
Reflection Summary Questions 74
7 The Post- Digital Customer Journey 75
A Hybrid Journey 80
It’s All Real 83
Reflection Summary Questions 87
8 High Tech + High Touch 89
Behind the Scenes 95
Reflection Summary Questions 100
9 Shopping Malls Apocalypse? 101
Regional Differences 104
Mixed- Use Developments 107
Reflection Summary Questions 109
10 The Perfect Storm 111
Where Do We Go from Here? 116
Part II THE 10 BEs OF POST- DIGITAL RETAIL 119
11 Be Humbitious 125
Different Leaders for Different Corporate Cultures 130
Reflection Summary Questions 135
12 Be Purposeful 137
The Benefits of Being Purposeful 142
A Difficult Harmony 145
Toward a Common Standard 147
The Business Correlation 150
Public/Private Collaboration Required 156
Reflection Summary Questions 158
13 Be Ambidextrous 161
Overcoming the Obstacles 170
Reflection Summary Questions 174
14 Be Onlife 175
Facing the Most Common Threats 179
Embracing an Onlife Optichannel Strategy 187
Reflection Summary Questions 192
15 Be Personal 195
The Benefits 201
The Flip Side 204
Reflection Summary Questions 208
16 Be Human 211
Unity Is Strength 217
Reflection Summary Questions 224
17 Be a Destination 225
Redefining Brick- and- Mortar Stores 231
Common Traits 237
Reflection Summary Questions 240
18 Be Exponential 241
Different Types of Business Ecosystems 245
Unity Is Strength 253
Make, Buy, or Ally 257
Reflection Summary Questions 261
19 Be Invisible 263
Five Significant Benefits of Invisible Technologies 269
Or: Not So Fast 275
Reflection Summary Questions 277
20 Be Loyal 279
Stakeholders’ Loyalty 284
Decoding Customer Loyalty and Churn 287
Loyalty, Habit, and Communities 293
Reflection Summary Questions 298
Conclusion: Embracing the Post- Digital Retail 5.0 Journey 299
Notes 305
Acknowledgments 341
Index 345
