The Challenge of Digitalization in Retail. The Retail Sector in Germany

Term Paper , 2021 , 19 Pages

Business economics - Trade and Distribution

In this work the author examines the retail sector in Germany to provide an overview of the reasons for change, potential challenges, and future predictions. During the research, it was found that very many reports exist around the topic and digitalization is a trending topic in retail. Furthermore, a study is covered that illustrates the shift in values from a consumer perspective. The goal is to better prepare for the needs of customers. In this study the question should be answered, with which strategic measures the retailers must deal in the future to remain competitive.

The highly specialized and industrialized society is undergoing massive changes due to digitalization. The high level of digitalization and the technical capabilities of machines are opening new opportunities. The productivity development of the last centuries shows that the economy is currently in a particularly challenging phase. This development is particularly due to the widespread internet connectivity through e.g., smartphones, large storage capacities and technologies such as cloud or analytics that new applications and business opportunities can be implemented. In the retail sector, the question now arises on which facts the change in retail is built and on which the future of retail depends.

Table of Contents

1 Problem and Objective

2 Reasons for Change in Retail
2.1 Stagnation of the Sales Area
2.2 Increasing Importance of ECommerce
2.3 Use of Internetenabled Smartphones
2.4 Digitalization of the Application Process

3 Customer Focus through digital Innovations

4 Relevant Study Results on Retail

5 New Challenges due to Digitalization
5.1 Concerns about Data Privacy and Data Sharing
5.2 How should Users be connected to Devices?
5.3 Systems are exposed to Attacks from the Outside
5.4 Nonpersonalized Customer Experiences with no Context

6 Forecasts for the Future of Retail

7 Conclusion

8 Bibliography

• College: University of Applied Sciences Fulda
• Author: Yusuf Say (Author)
• Publication Year: 2021
• Pages: 19
• Catalog Number: V1043162
• ISBN (eBook): 9783346465054
• ISBN (Book): 9783346465061
• Language: German
• Tags: challenge, digitalization, retail, sector, germany