Retailing and Value, Doing the Right Thing by Providing Value

Abstract

This chapter focuses on how retailers can do the right thing and be successful at the same time, particularly in the light of technological innovation. Service dominant logic (SDL), with the notion of operant and operand resources as a means to connect the retailer to the customer, provides a framework for the chapter. Normative decision making is presented as a necessary ethical and practical mindset to solve problems, and we illustrate the relationship between normative decision making and value. Value becomes the ultimate outcome to the customer that will allow for sustainable retailing into the future. Utilitarian value and hedonic value are presented and elaborated upon to show how companies and consumers come together to transform resources into value through service. Sections are included showing how value delivery will evolve into the future and what mix of value will be necessary so that retailing can see continued success.

Citation

Babin, B.J. and James, K.W. (2018), "Retailing and Value, Doing the Right Thing by Providing Value", Lavorata, L. and Sparks, L. (Ed.) Food Retailing and Sustainable Development, Emerald Publishing Limited, Leeds, pp. 171-185. https://doi.org/10.1108/978-1-78714-553-520181011