Reshaping retail strategy: Understanding and incorporating the impact of technology

Advances in technology and AI help retailers innovate and compete, or even just survive, in changing marketplaces. This article outlines the core aspects of retail strategy in relation to such advances, according to the seven Ps of retailing. Further, to explicate the process ‘P’ of retail strategy more specifically, the authors define it according to two key dimensions: whether the elements are (1) customer- versus operationally focused, and (2) technology- versus employee-intensive. The resulting four quadrants have unique, profound impacts on customers, employees, retailers, society, as well as distinct retail implications. This article offers examples, along with considerations of their implications for further research in the retail strategy domain.