SFIMAR Research Review

Abstract

The purpose of this research paper was fo explore the future of traditional (physical) retailers with an optimistic bias. The aim was to review and analyse the relevance of physical retailing and present a case for its survival and growth. The research methodology involved study of cases of transformation of traditional retailers into multi-channel retailers and reasons behind online retailers opening a physical storefront. A cross section of literature (business and academic) and data pertaining to traditional and online retail was analysed and interpreted within the framework of academic theories to build a case for traditional (physical) retail's survival and growth.

The research is limited in its scope and interpretation due to its exploratory nature and lack of empirical data (primary research). Nevertheless, it contributes to the limited body of work on opportunities for and competitive advantages of traditional retailers in an era of rapid growth of online retail. The study provides a positive picture for owners and managers of traditional retail firms in terms of the opportunities, experiments and innovations undertaken across markets enabling them to consider the transformation of their own stores into a more consumer-oriented retail establishment to compete with aggressive online retailers.

The study is relevant and original in terms of its aim to provide an optimistic scenario for traditional (physical) retailers by analysing transformation undergoing in various retail markets. The study found that there were ample data, cases and initiatives across markets suggesting a resurgence of traditional retailers into entities embarking on omni-channel retailing by leveraging technology and learning from online retailers.

The study concludes that traditional physical retailers can survive and grow in the era of internet and mobile (competing with online retailers), by leveraging 'technology' to redesign their (operations) business model from consumer's perspective and adopt a multi-channel (O20) retail model to cater to the needs of the new age consumers.

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Abstract

Purpose: This research paper aims at reviewing and analysing the approach and strategies adopted by Indian firms to survive and thrive in the modern era of the fourth industrial revolution.

Methodology: The paper is essentially exploratory in nature and undertakes a review of literature and analysis of secondary data, information and case studies to provide an insight into the strategies adopted by an Indian firm in the digital age.

Findings/Conclusion: Indian manufacturing companies are keen to adopt digital technologies and have partnered with the world’s leading technology firms to transform their business functions. The digitisation efforts currently adopted focus on CRM and Supply Chain. There is much scope for companies in India to employ digitisation across their value chain to provide greater stakeholder value.

Implications: The theme of the conference and this paper provides insights into the forces affecting and driving the businesses in the new era. Managerial implications include learning from firms in similar industries to adopt strategies to compete, co-operate and grow in the digital era.

Originality: Few studies and research papers have aimed at analysing the strategies adopted by Indian firms to survive and thrive in the new era of digital transformation, this paper aims to contribute in that regards, and derives its originality in that context.

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