Retail Management in the Digital Era: Integrating Traditional Foundations with Contemporary Challenges and Strategic Responses
DOI:
https://doi.org/10.59890/mjst.v2i12.115Keywords:
Retail Management, Digital Transformation, Omnichannel Retailing, Supply Chain Resilience, Consumer Behavior, Retail Strategy, Customer Experience, E-Commerce, Retail Management InnovationAbstract
Retail management has undergone a fundamental transformation over the past five years, driven by accelerated digitalization, disruptions in the global supply chain, and drastic changes in consumer behavior following the COVID-19 pandemic. This article provides a comprehensive qualitative review of the concepts, elements, strategies, and contemporary challenges in retail management. Through a synthesis of literature from journals, the article explains the understanding of retail management as a series of coordinated activities aimed at effectively meeting consumer needs while achieving sustainable profits. The basic elements of retail—product, location, store layout, pricing, and customer service—are analyzed as complementary foundations in creating a meaningful shopping experience. Basic strategies include market segmentation, retail mix, inventory management, and integrated promotions that are responsive to market dynamics. However, contemporary challenges such as digital gaps, fragile supply chain resilience, multi-skill labor crises, omnichannel complexity, and e-commerce platform competition demand more adaptive strategic responses. The article recommends a holistic approach that integrates technology and human resource development, with an emphasis on operational flexibility, sustainability, and phygital models. These findings are relevant for academics, practitioners, and policymakers in designing retail management strategies that are resilient and competitive in the digital era
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