Competitiveness Building to Confront Retail Business Transformation

Abstract

               In the world of doing business inevitably having to face the competition. One of the factors that will lead to success in the race is the business is able to face or deal with the changes that occur. Therefore, this article aims to study the factors driving the transformation in retail business. Presenting ways to build competitiveness in order to deal with such transformation. According to the study, it was found that influences from the growth of emerging markets especially from China and India with a variety of ages makes the needs of consumers more complex and different. Therefore, having a strategy to address individual needs differences is essential in building the competitive edge in today's retail business. Generation C was born, specializing in technology for shopping which has buying decision behavior according to the FFF Model, so the competition in this era must be management in designing a distribution channel system that takes into account of privacy, trust, and security. There is competition for reducing operating costs and increase sales in retail channels by adopting modern technology so, designing a storefront to deliver a new customer engagement experience is a key factor in building a potential retail channel. There was an increase in the level of service expectation from a retail channel. Hence, facilitating the entire purchase process is what will help cope with the rising level of expectations.