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The trade magazine Hardware Store Manager now reports on the results of the study "Instore Navigation in German Retail" (2021, Riekhof/Grüneklee/Reutel). An expert survey among retail managers made it clear that there is still room for improvement in the exploitation of digital possibilities.

Hardware Store Manager Magazine picks up study “Instore Navigation in German Retail”

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The digital trade journal Hardware Store Manager picks up the current study “Instore Navigation in German Retail” in an article. As part of an expert survey, Prof. Dr. Hans-Christian Riekhof, Professor of International Marketing at the PFH, together with two other authors from the PFH, examined for the university what contribution digital customer cards and the associated instore navigation can make to the digitization of stationary retail, such as facilitating product search in large sales areas like hardware stores. The magazine has now published some research results.

Under the headline “Study: Retail gives away chance for additional sales at the shelf”, the magazine essentially summarizes as follows: There is still room for improvement in the exploitation of digital possibilities in stationary retail in Germany. The survey among retail managers made it clear that only just under half (46 percent) of the companies surveyed by the researchers have already used or are using digital customer cards, this is planned by 11 percent.

Most companies are primarily concerned with making the shopping experience more pleasant for customers. “Location-based marketing and couponing, customer surveys directly at the scene and similar functions that digital customer cards also offer, seem to play a secondary role from the perspective of the surveyed managers”, Riekhof is quoted.

Links:

Article in Hardware Store Manager:
https://www.baumarktmanager.de/studie-handel-verschenkt-chance-auf-zusatzumsaetze-am-regal/150/84280/

Article in Hardware Store Manager as pdf:
Study: Retail gives away chance for additional sales at the shelf

More about the study “Instore Navigation in German Retail”:
https://www.unicconsult.com/referenz/instore-navigation-im-deutschen-einzelhandel-eine-expertenbefragung/

The study on Connected Car Services (Riekhof/Scholz, 2020) was picked up by the Harvard Business Manager in its March issue. The magazine primarily addresses the question of whom German drivers trust more with the use of data in connected vehicles: the automotive corporations or the tech corporations.

Harvard Business Manager reports on Connected Cars study

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The study on Connected Car Services by Professor Hans-Christian Riekhof and Marc Scholz (2020) was picked up by the Harvard Business Manager in its March issue.

Under the headline “Connected Cars – Who gets my data?”, the business trade magazine primarily addresses the question raised in the study by the researchers of whom German drivers trust more with the use of data in connected vehicles: the automotive corporations or the tech corporations. Riekhof, Professor of International Marketing at the Private University of Göttingen and author of numerous marketing studies, and Marc Scholz revealed in the sensational study that the tech corporations are at a disadvantage here. “German drivers trust automotive corporations like Daimler (Mercedes), BMW, VW and Toyota far more than large tech corporations when it comes to the security of their data in connected cars (Connected Cars)”, the magazine quotes one of the important results of the study, which is based on a survey among specialists and executives.

Accordingly, Google, Amazon and Facebook ended up in the last places. From the authors’ point of view, this will remain the biggest obstacle to the further development of the services, the Harvard Business Manager continues to quote.

Read “Customer Insights: Connected Car Services in Germany” study (pdf):
https://www.unicconsult.com/wp-content/uploads/2020/07/PFH-Studie-Connected-Car-Services-Riekhof-Scholz-2020.pdf

According to the "Connected Car Services" study, US companies are given little trust in terms of the use of user data collected in vehicles. A justified concern, as the ARD magazine Kontraste now proves with regard to Tesla.

Tesla: ARD “Kontraste” Criticizes Handling of User Data

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No other vehicle manufacturer is as pioneering in terms of technical progress and the use of data in the vehicle as the US car manufacturer Tesla. A report by the ARD magazine “Kontraste” now points to security concerns regarding data protection through the recording of environmental images in Tesla vehicles. According to research by the broadcaster RBB for “Kontraste”, the e-mobility manufacturer transmits video data from cars in Germany to servers in the USA.

“In our study “Customer Insights: Connected Car Services in Germany” we were able to show that the use of personal data in connection with connectivity services is a critical aspect for more than two thirds of the respondents”, explains Marc Scholz. The master’s student is, alongside Prof. Hans-Christian Riekhof, the co-author of the study created in spring 2020. “Only a third of the respondents trust Tesla. German premium OEMs are given the highest trust in this context.”

The RBB report also underlines that the desire for data from Tesla and other OEMs will continue to increase. Marc Scholz therefore advises car manufacturers to rethink their handling and communication with regard to data protection standards from the aspect of current and future trustworthiness of customers.

The US company Tesla wants to build 500,000 cars a year in Berlin soon.

Photo by Craig Adderley from Pexels

Links on the topic:

To the article by tagesschau.de:
https://www.tagesschau.de/investigativ/kontraste/tesla-datenschutz-101.html

The contribution as pdf:
https://www.unicconsult.com/wp-content/uploads/2020/09/Tesla-Datenschutzverstoss.pdf

Read the study “Customer Insights: Connected Car Services in Germany” (pdf):
https://www.unicconsult.com/wp-content/uploads/2020/07/PFH-Studie-Connected-Car-Services-Riekhof-Scholz-2020.pdf

For the Hamburg magazine New Business, pricing expert Prof. Riekhof has now given an interview. The topic is pricing for luxury.

The Ideal Price for Luxury: Pricing Expert Riekhof in Interview with Marketing and Media Magazine New Business

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For the Hamburg magazine New Business, pricing expert Prof. Riekhof has now given an interview. The topic is pricing for luxury.

For the Hamburg magazine New Business, pricing expert Prof. Dr. Hans-Christian Riekhof has now given an interview. The topic of the detailed contribution, which can be read in the current print edition 6/2020 of the medium focused on the media and marketing communication scene, is strategic pricing in the luxury segment. Under the headline “The higher, the better? The ideal price for luxury” Prof. Riekhof explains the crucial role of price in the luxury segment and how brand managers can find the right price for their luxury items.

Dr. Hans-Christian Riekhof is Professor of International Marketing at the PFH Private University of Göttingen and Managing Partner of UNICconsult Strategy Development. For many years he has been conducting empirical studies on pricing and he advises companies on price strategic orientation and the implementation of pricing strategies.

Learn more about the interview in the New Business magazine here:
https://www.new-business.de/_rubric/index.php?rubric=80

Other articles that might interest you

How luxury customers tick:
https://www.unicconsult.com/pricing-newsletter-no-16-2018/

The Riekhof LSDC model in practice – Why we need a new customer group model for pricing:
https://www.unicconsult.com/pricing-newsletter-no-10-2017-das-riekhof-sche-lsdc-modell-in-der-praxis/

Find more informative articles about pricing strategies at:
https://www.unicconsult.com/pricing-newsletter/

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