Retailing in the 21st Century: Current and Future Trends / Edition 2

by Manfred Krafft, Murali K. Mantrala

Overview

Retailing in the new millennium stands as an exciting, complex and critical sector of business in most developed as well as emerging economies. Today, the retailing industry is being buffeted by a number of forces simultaneously, e.g., increasing competition within and across retailing formats, the growth of online retailing, the advent of ‘radio frequency identification’ (RFID) technology, the explosion in customer-level data availability, the global expansion of major retail chains like Wal-Mart and METRO Group and so on. Making sense of it all is not easy but of vital importance to retailing practitioners, analysts and policymakers. With crisp and insightful contributions from some of the world’s leading experts, Retailing in the 21st Century is a compendium of state-of-the-art, cutting-edge knowledge for successful retailing today.

Product Details

ISBN-13:	9783540720010
Publisher:	Springer Berlin Heidelberg
Publication date:	03/26/2010
Edition description:	2nd ed. 2010
Pages:	462
Product dimensions:	6.20(w) x 9.40(h) x 1.10(d)

About the Author

Manfred Krafft holds the Chair of Marketing at the University of Muenster, Germany. He is also director of the Center for Interactive Marketing and Media Management (CIM). Professor Krafft has published articles in Interfaces, International Journal of Research in Marketing, Journal of Marketing, Journal of Marketing Research, Recherche et Application en Marketing and Marketing Science. For one of his papers he won the INFORMS Society for Marketing Science's Practice Prize in 2003. Professor Krafft serves on several editorial boards.

Murali Mantrala is the Sam M. Walton Distinguished Professor of Marketing at the University of Missouri. He has published articles in Marketing Science, Journal of Marketing Research, Journal of Marketing, International Journal of Research in Marketing, Marketing Letters, Interfaces, Managerial and Decision Economics and European Journal of Operational Research and serves on the editorial review board of Marketing Science. Professor Mantrala recently spent several years as a Manager with ZS Associates Inc., a sales and marketing strategy consulting firm, with clients in the pharmaceutical, insurance and broadcast media industries.

Table of Contents

Foreword to the Second Edition V

Acknowledgments for the Second Edition IX

Acknowledgments for the First Edition XI

Overview Manfred Krafft Murali K. Mantrala 1

Part I Introduction

Retail Success and Key Drivers Dhruv Grewal Ram Krishnan Michael Levy Jeanne Munger 15

Retailing in the Global World: Case Study of Metro Cash & Carry Zygmunt Mierdorf Murali K. Mantrala Manfred Krafft 31

Entrepreneurship in Retailing: Leopold Stiefel's "Big Idea" and the Growth of Media Market and Saturn Murali K. Mantrala Manfred Krafft 43

Part II Global, Environmental, and Market Trends

Global Trends

Retail Trends in Europe John Dawson 63

Trends in U.S. Retailing Barton A. Weitz Mary Brett Whitfield 83

Trends in Retailing in East Asia Roy Larke 101

Insights into the Growth of New Retail Formats in India Piyush Kumar Sinha Sanjay Kumar Kar 119

Environmental Trends

Future Store Technologies and their Impact on Grocery Retailing Kirthi Kalyanam Rajiv Lal Gerd Wolfram 141

The Third Wave of Marketing Intelligence Raymond R. Burke 159

Applications of Intelligent Technologies in Retail Marketing Vadlamani Ravi Kalyan Raman Murali K. Mantrala 173

New Automated Checkout Systems Thorsten Litfin Gerd Wolfram 189

Market Trends

Understanding Retail Customers Mark D. Unles 205

Future Trends in Multi-channel Retailing Peter Sonneck Cirk Sören Ott 221

Retail Competition Edward J. Fox Raj Sethuraman 239

Part III Trends in Retail Management

People

New Challenges in Retail Human Resource Management Julia Merkel Paul Jackson Doreén Pick 257

Product

Retail Assortment: More Bettler Susan M. Broniarczyk Wayne D. Hoyer 271

Out-of-Stock: Reactions, Antecedents, Management Solutions, and a Future Perspective Peter C. Verhoef Laurens M. Sloot 285

Pricing

Recent Trends and Emerging Practices in Retailer Pricing Ruth N. Bolton Venkatesh Shankar Detra Y. Montoya 301

Retail Pricing - Higher Profits Through Improved Pricing Processes Hermann Simon Andreas von der Gathen Phillip W. Daus 319

Distribution (Place)

Current Status and Future Evolution of Retail Formats Dieter Ahlert Markus Blut Heiner Evanschitzky 337

Electronic Retailing Barton A. Weitz 357

Operations, Promotion, and Marketing Communications

Supply Chain Management in a Promotional Environment Arnd Huchzermeier ananth V. Iyer 373

Sales Promotion Karen Gedenk Scott A. Neslin Kusum L. Ailawadi 393

Understanding Customer Loyalty Programs Werner J. Reinartz 409

Integrated Marketing Communications in Retailing Kalyan Raman Prasad A. Naik 429

About the Editors 445

About the Authors 447

Editorial Reviews

From the reviews:

"The book ‘Retailing in the 21st Century’ improves contemporary retailing’s public image, enhances the knowledge of its practioners, and stimulates further retailing research. … Overall, practitioners as well as academics will strongly benefit from this book, as it depicts examples of best practice in retailing, most recent findings from academic research and conveys interesting insights into current and future trends in retailing." (A. Kotouc, Thexis, Issue 3, 2006)

From the reviews of the second edition:

“Manfred Krafft and Murali Mantrala, have successfully brought together an impressive list of 48 authors who include industry experts and leading academic scholars from Europe, the USA, Australia, and India. … Overall, I believe that practitioners as well as academics will strongly benefit from this book and find it stimulating and thought-provoking. … it provides good insight about retailing … . A selective reading would benefit anyone who hopes to succeed in tomorrow’s retail environment.”­­­ (Ardhendu Shekhar Singh, Journal of Consumer Marketing, Vol. 28 (7), 2011)

From the Publisher