Social media: a new frontier for retailers?

Efthymios Constantinides, Carlota Lorenzo Romero, Miguel A. Gomez Boria

Research output: Chapter in Book/Report/Conference proceedingChapterAcademicpeer-review

120 Citations (Scopus)
424 Downloads (Pure)

Abstract

During the last two decades the retailing industry is finding itself in a state of constant evolution and transformation. Globalization, mergers and acquisitions, and technological developments have drastically changed the retailing landscape. The explosive growth of the Internet has been one of the main catalysts in this process. The effects of the Internet have been mostly felt in retail sectors dealing mainly with intangibles or information products. But these are not likely to be limited to these sectors; increasingly retailers of physical products realize that the empowered, sophisticated, critical and well-informed consumer of today is essentially different to the consumer they have always known. The web, and particularly what is known as Social Media or Web 2.0, have given consumers much more control, information and power over the market process, posing retailers with a number of important dilemmas and challenges. This article explains what the new face of the Internet, widely referred to as Web 2.0 or Social Media, is, identifies its importance as a strategic marketing tool and proposes a number of alternative strategies for retailers. Implementing such strategies will allow retailers not only to survive, but also create competitive advantages and thrive in the new environment.
Original languageEnglish
Title of host publicationEuropean retail research
EditorsB. Swoboda, D Morschett, T. Rudolph, P. Schnedlitz, H Schramm-Klein
Place of PublicationBerlin, Germany
PublisherSpringer
Pages1-28
Number of pages28
ISBN (Print)978-3-8349-1084-4
DOIs
Publication statusPublished - 2008

Publication series

NameEuropean retail research
PublisherSpringer
Number22
Volume22

Keywords

  • METIS-248269
  • IR-89279
  • Web 2.0
  • Social Media
  • Internet Retailing
  • Online Strategy
  • Customer Behaviour
  • Retailing

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