INNOVATIVE RETAIL MANAGEMENT STRATEGIES IN THE DIGITAL ERA: A SYSTEMATIC LITERATURE REVIEW
Keywords:
Digital Transformation, Innovation Strategy, Omnichannel Retail, Personalization, Retail ManagementAbstract
This study systematically reviews innovative retail management strategies in response to the digital era's rapid evolution. Using PRISMA guidelines and a bibliometric analysis via VOSviewer, 30 peer-reviewed articles from 2020 to 2024 were synthesized to map emerging themes, strategic approaches, and technological innovations reshaping retail. The findings reveal that digital transformation drives the convergence of online and offline retail, mandates data-driven decision-making, and necessitates the development of dynamic digital capabilities. Moreover, personalization and omnichannel engagement have emerged as central strategies, supported by technologies such as IoT, blockchain, and the metaverse. Despite these advancements, retailers face substantial challenges, including operational barriers, financial constraints, and data governance issues. This review highlights the need for embedding innovation into organizational strategy and cultivating adaptive cultures to future-proof retail operations. By bridging fragmented research across technology, management, and consumer behavior, the study offers a comprehensive framework for understanding strategic innovation in the digital retail landscape and outlines avenues for future research.
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