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Since tangible assets of companies are becoming increasingly insignificant, emphasis should rather be placed on human capital as an essential source of competitive edge. This paper, accordingly, pursues the purpose to shed light on the major demands that the Millenials place on their prospective employers. In consequence, the work aims to identify attractiveness factors that German retailers should particularly promote in order to succeed in the war for talents and attract the most promising candidates among the German Gen Y. This work is based on a mixed-methods approach. First, interviews with German retail experts as well as generational keynote speakers were conducted in order to obtain a deep understanding and assessment of the German retail landscape from a professional perspective. The insights gained were subsequently used to design a questionnaire, which distribution led to a final sample of 216 useable responses by Millenials. Furthermore, the data obtained by interviewing experts and the survey was subsequently compared in order to evaluate to what extent the expectations of the Millenials correspond to the experts’ assessment. This study reveals Millenials to be driven by the need for growth, such as wide offers of development opportunities or scope for decision when choosing an employer. Among the relatedness needs, a harmonious working environment is particularly important, whereas a weekend off ranks first among the existential needs. Moreover, male Millenials consider Media Markt being the most popular employer in the German retail sector, while dm is preferred from a female perspective. Overall, employers of the German retail sector provide the majority of factors required by the Millenials, yet are only considered the 4th most popular industry behind the automotive, IT, art and entertainment industries. Our findings provide valuable practical implications as the research results might serve companies to build up a target group specific employer brand. Marketing strategies can be aligned with the identified attractiveness factors to efficiently and cost-effectively attract and bind Millenials to the company. Customized recruiting campaigns enhance the appeal as well as the attractiveness of an employer driving the likelihood of obtaining the strived status: Employer of Choice. To the best of the author’s knowledge, no study has yet dealt specifically with the attractiveness factors demanded by the Millenials in the context of the German retail sector as well as their most aspired employers in this industry. Furthermore, the attractiveness factors identified in the literature were embedded in Aldefer’s ERG theory. This work also offers a bilateral perspective through the widely conducted survey carried out among Millenials, which was additionally expanded through the lens of experts.
Sowohl der stationäre Handel als auch die Online Pure Player befinden sich durch die zunehmende Digitalisierung und die Beeinflussung durch die dynamisch veränderten Trends in einem Wandel. Insbesondere wird von der Möbelbranche ein adaptives Verhalten an die vorliegenden Entwicklungen verlangt. Durch die Intensivierung der Markt- und Wettbewerbslandschaften und die Veränderungen des Verbraucherverhaltens bezüglich der verlangten Verschmelzung der Einkaufskanäle wird ein Umdenken gefordert und notwendig. Zusätzlich wird diese Notwendigkeit durch aktuelle Gegebenheiten, wie die Covid-19-Pandemie dringlicher. Die Omnichannel-Strategie und deren Etablierung birgt für die Möbelbranche insbesondere hinsichtlich der logistischen Herausforderungen Gelegenheiten und Bedrohungen. Diese sind zu erkennen, zu nutzen und zu beheben.
The future of German pharmacy business models with retail clinics as USP against online pharmacies
(2022)
Purpose: This study aims to discuss the chances of in-store pharmacies through in-store health services, e. g. vaccinations or Covid-19 tests, in Germany. As a result, retail clinics could lead to a USP against online pharmacies. Additionally, the study will show how possible retail clinics could look like and how the acceptance in the population is.
Research Methodology: To conduct the survey, Google Forms was used together with MS Excel for the analysis. Various studies were reviewed, and care was taken to work as closely as possible to practice and its figures from e. g. associations, companies, or statista.
Results: The launch of retail clinics could give German stationary pharmacies a new boost and differentiate them from online pharmacies on the market. Pharmaceutical services are in great demand among the population, hopefully, the legal framework will soon be in place, and the proper services will have to be offered to be able to fully generate the large sales potential.
Discussion and Conclusion: The study only points to a general overview of how health services can help store pharmacies in the competition with online pharmacies in Germany. Yet there are also other possible USPs for store pharmacies, which are not concluded in that study. In addition, the legal framework under which pharmacies operate must be analyzed in detail by legal experts to obtain a precise overview of what is possible for pharmacies in the area of pharmaceutical services and retail clinics. The study is useful for pharmacists, business economists in general as well as in health care management.
Implementation strategies of a modern showroom concept for retailers with a wide range of products
(2022)
This paper suggests a new business model based on modern technology for retail. In the age of digitalization, stationary retail is losing market shares to online retail. Therefore, there is an obvious need for change in businesses. The concept developed in this paper combines the strengths of online and stationary retail to benefit stationary retail. In the approach taken in this paper, the basis for change is modern technology. Finding innovative ways to use technologies like NFC, AI, and robotics is regarded as the key factor to sustainable success. As the implementation of modern technologies entails a particular investment, the customers’ opinion on structural changes like these has been included in the consideration. Therefore, a survey has been conducted to find out which level of innovation current customers are willing to accept thus emphasizing the need for certain changes and dissuading specific others. The result of this paper is the modern showroom concept which takes the customers’ opinion into account while implementing the right amount of technology that should pave the way to a sustainable future for stationary retail.
In recent years, the retail virtual store has become the main trend in social services. More and more people tend to shop in retail virtual stores. With the development of 3D virtual reality, this trend is getting stronger and stronger. Therefore, the development prospect of virtual retail stores has attracted much attention. This paper examines the impact of companies' and users' popularization of helmet gadgets on in-store traffic and analyzes how virtual reality (VR) could enhance the customer experience throughout the shopping trip. A qualitative research design has been used, which also included conversations with both professionals and consumers. Moreover, this paper seeks to break new ground by attempting to use the current literature to help predict future directions and trends for online shopping.