How stationary retail benefits from the silver generation. Research Paper "Business Model Innovation in the Retail Industry: Growth by Serving the Silver Generation" by Veit Gregor Lange and Jun.-Prof. Dr. Vivek K. Velamuri of HHL Leipzig Graduate School of Management.
In the old days, it was the market square; today's generation of elderly people likes to have a chat at the café integrated into the supermarket. Stationary retail is facing the challenge of a rapidly aging society. Veit Gregor Lange and Jun.-Prof. Dr. Vivek K. Velamuri of HHL Leipzig Graduate School of Management have examined how established German retailers react to the requirements of an aging society.
Veit Gregor Lange says, "Our findings show that stationary retail will assume the role of the meeting point of generations in the future." Photo: private
The authors of the study specifically explored innovation applied on the sales floor to cater to the needs of the so-called silver generation. Interviews, structured following the proven and tested case study approach, were conducted with a large number of experienced experts and managers from the industry to obtain the data.
The examinations focused on firstly, alterations to store layout and physical environment, secondly, the importance of customer service, and thirdly, changes in the product portfolio. Lange and Velamuri were able to prove that well-directed alterations in these three fields can help companies to benefit from the demographic change.
"Our research emphasizes how retailers can specifically adjust their business models to better meet the needs of the growing segment of customers from the silver generation," says Vivek K. Velamuri, Schumpeter Junior Professor for Entrepreneurship and Technology Transfer at HHL.
Research findings of highest practical relevance
Veit Gregor Lange explains, "The societal framework conditions are changing rapidly. Stationary retail can benefit from this development due to its physical nature: by means of personal interaction, stationary retail has a human face and can provide an experience which e-commerce cannot offer. Our findings show that stationary retail will assume the role of the meeting point of generations in the future. Some successful retailers such as fashion retailer Engelhorn Mode are already not only training their employees to recognize generation-specific requests but also invite their customers to stay and interact at a gourmet restaurant integrated in the main building."
Lange, Veit Gregor; Velamuri, Vivek K.: Business Model Innovation in the Retail Industry: Growth by Serving the Silver Generation. In: Journal of Entrepreneurship and Innovation Management, 2014 vol. 18, no. 4, p. 310-329
About the Schumpeter Junior Professorship for Entrepreneurship and Technology Transfer at HHL Leipzig Graduate School of Management
Jun.-Prof. Dr. Vivek K. Velamuri is the Schumpeter Junior Professor for Entrepreneurship and Technology Transfer at HHL. This Junior Professorship is kindly being sponsored by the Leipziger Stiftung für Innovation und Technologietransfer. Jun.-Prof. Dr. Velamuri’s research focus is on hybrid value creation, i.e. the process of generating value added by combining products and services to well-adjusted offers. This is the topic on which he completed his doctoral dissertation at the University of Erlangen-Nuremberg (Chair of Professor Kathrin M. Möslein) with summa cum laude in May 2011. Working on research projects, which focus on innovation and value creation, at Professor Möslein’s Chair with partners from the industry brought Jun.-Prof. Dr. Verlamuri significant experience in research carried out in cooperation with industry. Additionally, the Junior Professor, who also holds an MBA from HHL, has a solid background in teaching. His constant interaction with entrepreneurs motivated Jun.-Prof. Dr. Velamuri to design a course for students to write case studies on entrepreneurial firms. http://www.hhl.de/entrepreneurship
HHL Leipzig Graduate School of Management
HHL is a university-level institution and ranks amongst the leading international business schools. The goal of the oldest business school in German-speaking Europe is to educate effective, responsible and entrepreneurially-minded leaders. HHL stands out for its excellent teaching, its clear research focus, its effective knowledge transfer into practice as well as its outstanding student services. The courses of study include full and part-time Master in Management as well as MBA programs, a Doctoral program and Executive Education. In the 2014 Financial Times Masters in Management Ranking, HHL's full-time M.Sc. program was ranked among the top 10 in Europe. In 2013 and 2014, HHL reached one of three first places for the best entrepreneurial universities in Germany in the Start-Up Radar ranking published by Stifterverband für die Deutsche Wissenschaft (Founders' Association of German Science) and the German Federal Ministry for Economic Affairs and Energy (BWMi). According to the Financial Times, HHL ranks first in Germany and fifth globally for its entrepreneurship focus within the M.Sc. and EMBA programs. HHL is accredited by AACSB International. http://www.hhl.de
Volker Stößel | idw - Informationsdienst Wissenschaft
Corporate coworking as a driver of innovation
22.11.2017 | Fraunhofer-Institut für Arbeitswirtschaft und Organisation IAO
Mathematical confirmation: Rewiring financial networks reduces systemic risk
22.06.2017 | International Institute for Applied Systems Analysis (IIASA)
The WHO reports an estimated 429,000 malaria deaths each year. The disease mostly affects tropical and subtropical regions and in particular the African continent. The Fraunhofer Institute for Silicate Research ISC teamed up with the Fraunhofer Institute for Molecular Biology and Applied Ecology IME and the Institute of Tropical Medicine at the University of Tübingen for a new test method to detect malaria parasites in blood. The idea of the research project “NanoFRET” is to develop a highly sensitive and reliable rapid diagnostic test so that patient treatment can begin as early as possible.
Malaria is caused by parasites transmitted by mosquito bite. The most dangerous form of malaria is malaria tropica. Left untreated, it is fatal in most cases....
The formation of stars in distant galaxies is still largely unexplored. For the first time, astron-omers at the University of Geneva have now been able to closely observe a star system six billion light-years away. In doing so, they are confirming earlier simulations made by the University of Zurich. One special effect is made possible by the multiple reflections of images that run through the cosmos like a snake.
Today, astronomers have a pretty accurate idea of how stars were formed in the recent cosmic past. But do these laws also apply to older galaxies? For around a...
Just because someone is smart and well-motivated doesn't mean he or she can learn the visual skills needed to excel at tasks like matching fingerprints, interpreting medical X-rays, keeping track of aircraft on radar displays or forensic face matching.
That is the implication of a new study which shows for the first time that there is a broad range of differences in people's visual ability and that these...
Computer Tomography (CT) is a standard procedure in hospitals, but so far, the technology has not been suitable for imaging extremely small objects. In PNAS, a team from the Technical University of Munich (TUM) describes a Nano-CT device that creates three-dimensional x-ray images at resolutions up to 100 nanometers. The first test application: Together with colleagues from the University of Kassel and Helmholtz-Zentrum Geesthacht the researchers analyzed the locomotory system of a velvet worm.
During a CT analysis, the object under investigation is x-rayed and a detector measures the respective amount of radiation absorbed from various angles....
The quantum world is fragile; error correction codes are needed to protect the information stored in a quantum object from the deteriorating effects of noise. Quantum physicists in Innsbruck have developed a protocol to pass quantum information between differently encoded building blocks of a future quantum computer, such as processors and memories. Scientists may use this protocol in the future to build a data bus for quantum computers. The researchers have published their work in the journal Nature Communications.
Future quantum computers will be able to solve problems where conventional computers fail today. We are still far away from any large-scale implementation,...
15.11.2017 | Event News
15.11.2017 | Event News
30.10.2017 | Event News
22.11.2017 | Business and Finance
22.11.2017 | Physics and Astronomy
22.11.2017 | Physics and Astronomy