Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/306189 
Year of Publication: 
2024
Citation: 
[Journal:] Amfiteatru Economic [ISSN:] 2247-9104 [Volume:] 26 [Issue:] 67 [Year:] 2024 [Pages:] 885-902
Publisher: 
The Bucharest University of Economic Studies, Bucharest
Abstract: 
Retailers should prioritise technological innovations, adapt their business models, manage their distribution channels effectively, and strengthen their customer-centric strategies. Additionally, it is crucial to note that while smart retail is gaining prominence in the sector, challenges such as the lack of digital culture, training, and digital leadership persist. The importance of digitalisation was significantly highlighted during the crisis period, which proved to be a key opportunity and solution for retailers. Before the pandemic, there was already a steady growth in retail innovations through the use of artificial intelligence (AI), the Internet of Things (IoT), and Robotics to manage data and ensure efficiencies. However, the crisis not only negatively affected retail trade (restrictions, etc.), but opened new opportunities to react faster and make good decisions when opening or improving electronic stores and implementing digital innovative solutions. Retailers' investments in digital innovation benefit their business models and improve the shopping experience for consumers.
Subjects: 
artificial intelligence
COVID-19 pandemic
digital innovations in retailing
digital innovative services
digital technologies
retail trade
retailing process
JEL: 
O33
L81
L86
M31
Persistent Identifier of the first edition: 
Creative Commons License: 
cc-by Logo
Document Type: 
Article

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