Professional paper

HOW DISRUPTIVE TECHNOLOGIES INFLUENCE THE RETAIL BUSINESS MODELS

Tamás Kozák ; Budapest Business School, Budapest, Hungary

Abstract

The first innovation in the history of retail well known to us was the emergence of department stores. The second, the mail order service was connected to the introduction of catalogues. The third is the spread of discount stores, and internet commerce is obviously the fourth disruptive innovation, where the scale and the speed of the change differentiated from the previous phases. Majority of countries are ahead to illustrate how the traditional retail business models are being transformed by the disruptive technology. The retail sector is traditionally characterised by a way of thinking in long term, and the manifestation of evolution was accompanied by change drives business models. The new forms and channels of trade strengthened the managements’ attention to the future and the local (domestic) companies also took up developing more conceptual plans. These changes will bring about shifts in customer power, shifts in households’ wealth, and buyers’ knowledge. Only in being knowledgeable about these changes and the speed in which this is occurring can we ensure that advances in product and market knowledge and technology reach all and benefit all. The research summarises the innovation patterns of retail trade because this will help the in the other parts of the world to pose the right questions. Today many even among the managers of the sector feel that we are witnessing changes that do not only modify the presently known operating models but also fundamentally rewrite the business models. These trends and business developments and effects on project-oriented retail business model are explored in the presentation and research.

Keywords

retail; business development; project; e-commerce; disruptive

Hrčak ID:

228428

URI

https://hrcak.srce.hr/228428

Publication date:

25.11.2019.

Article data in other languages: croatian

Visits: 1.853 *