Intelligent Retail: The Future of Stationary Retail

This book provides insights into how stationary retail can reinvent itself to survive against the strong competition of online retail. It emphasizes the importance of adopting intelligent systems based on data, using artificial intelligence in retail functions, and providing personalized recommendations to customers. The author suggests that intelligent action can save stationary retail in city centers and shopping centers.

Format: Paperback / softback
Length: 374 pages
Publication date: 14 October 2022
Publisher: Springer

This book offers a transformative path for stationary retail to adapt and thrive in the face of the formidable challenge posed by online retail. It delves into the critical issues that will shape the future of retail, with a particular emphasis on brick-and-mortar stores. To survive in this competitive landscape, retail establishments must embrace intelligent systems powered by data and adopt or even surpass the strategies employed by large online marketplaces. Artificial intelligence plays a pivotal role in this transformation, extending beyond automation and the replacement of human tasks. It encompasses the ability of instruments and machines to learn, reason, and draw conclusions across various retail functions. However, the ever-evolving nature of shopping and search behavior presents a significant challenge. To address this, the book advocates for the provision of intelligent recommendations to customers within stores, tailored to their known interests and behavior patterns.

Gerrit Heinemann provides valuable insights into how intelligent action can rescue stationary retail in city centers and shopping malls. The content encompasses the following key aspects:

From Stationary Retail to Intelligent Retail: This section explores the shift from traditional brick-and-mortar stores to intelligent retail models. It highlights the threats faced by stationary retail and the need for transformation.

Threats to the Stationary Retail Trade: The book identifies the various challenges that stationary retail establishments encounter, including competition from online retailers, changing consumer preferences, and the rise of e-commerce.

Basic Requirements and Manifestations of Intelligent Retail: It outlines the fundamental requirements for intelligent retail, including the integration of data-driven systems, the adoption of advanced technologies, and the creation of personalized customer experiences.

Examples of Intelligent Retail of the Future: The book presents case studies and examples of innovative retail practices that leverage intelligent systems and technologies to enhance customer engagement, improve operational efficiency, and drive growth.

Risks for Intelligent Retail: This section acknowledges the potential risks associated with intelligent retail, such as the need for investment in technology, the potential for data breaches, and the challenge of maintaining customer trust.

By embracing these key aspects, stationary retail can reinvent itself and position itself for success in the digital age. The integration of intelligent systems, the adoption of advanced technologies, and the creation of personalized customer experiences will enable retail establishments to thrive in the competitive landscape and remain relevant to consumers.

Weight: 669g
Dimension: 240 x 168 (mm)
ISBN-13: 9783658383152
Edition number: 1st ed. 2023