New Publication in the Journal of Retailing on the Future of Physical Stores
The new publication “The Future of Physical Stores: Creating Reasons for Customers to Visit” co-authored by Els Breugelmans (KU Leuven), Lina Altenburg (KU Leuven), Felix Lehmkuhle (University of Münster), Manfred Krafft (University of Münster), Lien Lamey (KU Leuven) and Anne L. Roggeveen (Babson College) is published by the Journal of Retailing. The paper introduces a framework encompassing five customer benefits aimed at maintaining the attractiveness of physical stores. These benefits include facilitating product discovery, providing convenience, offering customized products and services, creating a community, and entertaining shoppers. Drawing on a multi-method approach that combines the study of over 8,000 retail innovation announcements and 12 in-depth interviews with retail experts, the scholars outline 14 subdimensions and many practical examples retailers can leverage to create the five key customer benefits. Additionally, the authors delve into the practicality and significance of initiating strategic partnerships and elaborate on internal and external contingency factors that impact when retailers should offer which benefit dimensions.
If you are interested in reading the complete paper, please click here.