Revival of high street retailing – the added value of shopping apps
Author:Jelena Demko-Rihter and Igor ter Halle
JEL:O31, O32, O33
DOI:
Keywords:innovations, online, retail, smartphone and tablet apps
Abstract:
Rapid and constant development of technology and social media drive every-day changes
in the retail sector, modifying behaviour and power of consumers, whereby traditional brick
and mortar stores are facing the risk to become obsolete. E-commerce and m-commerce
offer to customer a more convenient, faster and easier way of shopping and the possibility
to customize products and services to the individual needs of customers. There are different
business models and tools for enhancing the on-line retail industry, which causes changes
in the business of the whole retail sector, as well as in the micro and macro social and
economic environment. One of consequences of increasing value of the on-line retail
industry is a dropping number of customers shopping for products in brick and mortar
stores in high streets and city centers. Brick and mortar retailers are exploring new ways to
reach these lost shoppers. In this study an innovative application is researched that tries to
bridge online and in-store shopping with an online platform (website) and a smart-phone
app. The aim of this platform and app is to enhance the local shopping experience by
making the physical city centre available for smart-phones and tablets.