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Transforming Retail: The Impact of Technology, Crises, and Consumer Expectations
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Ever wondered how the retail industry has evolved in response to technological advancements and global crises? Join us as we explore these seismic shifts with Professors Travis Tokar from TCU and Henry Jin from Miami University of Ohio. Discover how the leap from 3G to 4G and the proliferation of smartphones have reshaped consumer expectations and driven traditional retailers to adopt omnichannel strategies initially pioneered by e-commerce giants like Amazon. Learn about the behind-the-scenes efforts required to make these omnichannel experiences seamless and efficient for today's discerning shoppers.
The pandemic has redefined retail distribution, pushing brick-and-mortar stores to innovate and embrace omni-channel models. Our guests discuss the surge in demand for rapid delivery, which has led to a boom in warehouse construction. Understand how the "Amazon effect" has set new standards for delivery expectations and how inflation and rising interest rates are impacting current spending trends. We also shed light on the competitive strategies employed by companies like Amazon and Timu, and how these moves are transforming consumer behavior and shipping preferences.
Finally, get an insider's look into the intricacies of retailer return policies and the challenges of managing returns without alienating customers. Explore the concept of omni-segment retailing, which focuses on personalized and sustainable approaches to meet diverse consumer needs. From real-time order tracking to integrated supply chain management, we cover it all, providing valuable insights into the interconnected world of retail operations. Tune in for a thought-provoking discussion that promises to enrich your understanding of the ever-evolving retail landscape.
Chapters
1. Transforming Retail: The Impact of Technology, Crises, and Consumer Expectations (00:00:00)
2. Omnichannel (00:00:10)
3. The Evolution of Retail Distribution (00:12:35)
4. Consumer Behavior and Shipping Preferences (00:24:23)
5. Retail Industry Trends and Challenges (00:36:47)
6. Retail Return Policies and Fraud (00:48:52)
7. Personalized and Sustainable Omni-Segment Retailing (01:02:15)
8. Integrated Supply Chain Management in Retail (01:10:34)
46 episodes
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