Research at CFR
We offer academic insight and education on contemporary and future retail
Retail is one of the first and main points of contact between consumers, brands, and products. While retailers have always served as a platform between manufacturers and consumers, contemporary developments in digitalization and sustainability are transforming the industry. Digitalization has transformed when, where, and how much consumers interact with and experience retail. In turn, sustainability has become a central overarching consideration that impacts consumer decisions as well as the way firms market their offering. Established retailers are adding new channels, service offerings, and business models to stay on top of these changing consumer needs and societal demands. At the same time, new actors (such as influencers, direct-to-consumer brands, digital platforms, and start-ups) are innovating how consumers fulfil their needs and interact with retail, highlighting the entrepreneurial nature of the retail industry.
We are curious to understand this transformation and seek to contribute managerially relevant insights while advancing academic thinking on retail
Empirically, we base our insights on systematic studies of actual behaviors, either through observation, cross-sectional and longitudinal data analytics, AI-driven analytics (e.g., machine learning, NLP), or (quasi-) experimental approaches; and complement these quantitative approaches with in-depth insights from consumers and practitioners (e.g., through interviews or focus groups). We aim to collaborate regularly with retail industry actors to generate research insights that reflect real-world economic realities.
Key Areas of Research
â–º Innovation in a Dynamic Retail Ecosystem
â–º Transitioning toward Sustainable Retail
â–º Using Data to Shape Retail Organisations
Outside of these core research areas, we also conduct research in consumer behavior, retail, and marketing strategy, more broadly. Specific topics include advertising creativity and effectiveness, political communication and opinion diffusion, virtual agents in service encounters, and the impact of economic and political uncertainty on consumers and organizations, among others. We collaborate extensively with colleagues in related disciplines, such as accounting, entrepreneurship and family business, and data science. This includes both collaborations within the ºÚÁÏÉçÏÂÔØ and with international colleagues.
Innovation in a Dynamic Retail Ecosystem
Retailing is undergoing rapid changes due to the ongoing digital transformation. These changes profoundly transform the industry as they enable new business models and new actors to become increasingly impactful. Several of our research projects focus on this development. For example, we explore how platforms and new actors such as influencers, payment providers, technology platforms, gig workers, and peer creators re-interpret the retail ecosystem. Considering recent advancements in artificial intelligence (AI) and its diffusion through all levels of business and society, we study how AI informs new ways of working in organizations, creates value and content, and allows for new ways of communicating with consumers.
Transitioning toward Sustainable Retail
The biggest global challenge is creating a path to a responsible and sustainable economic and societal future. Policy, regulations, and firm-level decisions play an important role in achieving environmental and social goals. The retail sector is central, as consumers’ interactions and choices in retail environments fundamentally impact a more sustainable future. Several of our research projects focus on how retailers can shift consumer behaviors into more sustainable ones, for example, by introducing circular business models, purchasing products with ethical and/or green labels, reducing carbon emissions and consumption of disposable packaging, transitioning to healthier choices, recycling and reusing goods, or redistributing economic wealth in the market society. Further, we study how new approaches, such as circularity, can help firms manage the tensions between profitability and sustainability in their market offerings.
Using Data to Shape Retail Organisations
Data is everywhere, and technological advancements such as the availability of Generative AI allow tracking perceptions, opinions, and behaviors in detail, making it possible to understand consumer behavior from a unique quantitative perspective. Retail environments afford large amounts of both structured (e.g., receipts, loyalty programs) and unstructured (e.g., online reviews, consumer videos) data across different consumer decision processes. Several of our research projects investigate how retail organisations can use these data to inform their decision-making, for example, by studying optimal product recall management, the role of employees in an increasingly technology-infused industry, product return policies, inventory optimization, dynamic pricing policies, and customer journey mapping over time.