The art of adaptation: How to attract customers and increase effectiveness of retail stores in a vuca world
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Faculty: Economics / Degree: Logistics, University of Economics in Katowice, Polska
Submission date: 2022-10-31
Final revision date: 2022-11-29
Acceptance date: 2022-12-05
Publication date: 2022-06-30
Corresponding author
Kacper Kozioł
Faculty: Economics / Degree: Logistics, University of Economics in Katowice, Polska
JoT 2022;18:11-24
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ABSTRACT
In the study the author presented the adjustments implemented by various business entities operating within retail industry and their impact on the competitiveness of reviewed discount stores. The companies analyzed are considered as key players within Polish retail market classified due to number of shops each of the stores’ chain consists of, number of customers attracted (also known as market penetration) and income from sales. Before the study the author performed a literature search. In the first part of the article the readers could find an information presenting the operational background – in order to create an introduction to the topic a number of definitions such as retailing and black swan have been adduced. Subsequently, the writer describes the scale of unexpected incidents affecting specific part of society. Next paragraphs highlight the consumer trends that occurred in 2022 and their influence on customers. Furthermore, the author of the study presents the advantages of retail and market structure based on the size of the trade units. In the last part the readers can find the activities taken by several companies (Biedronka, Lidl, Netto, Aldi and Żabka) within the last years that created a difference on the results achieved by them.