Phygital: a new alternative mode of entry in retail and franchising
DOI:
https://doi.org/10.51302/marketing.2023.6045Keywords:
phygital retail, marketplaces, entry modes, exclusivity, uniquenessAbstract
Phygital retail is an experience that blends the virtual with the physical world extending the boundaries of the physical store. In Phygital retail, traditional, and digital firms coincide in a physical context that transforms the discovery process of goods and services into an adventure filled with hedonic and theatrical experiences. Consumers are seeking these types of experiences similar as being in a video game where artificial intelligence blends with role playing where the consumer is the center of the experience. These new marketplaces are being developed in high traffic cities where young consumers seek to experience brands in new ways. Digital native brands as well as traditional ones have been implementing this alternative mode of entry and being a new phenomenon, it has not taken the attention of scholars. Motivated by this research gap, this paper aims to explore the application of the phygital retail by observing the case of Neighborhood Goods in United States and WOW Concept in Spain. This paper presents an exploratory view of phygital retail and provides future lines of research of the phenomena. It will contribute to starting the academic conversation toward these new phenomena in retail as consumers are expanding the boundaries of the physical store format.
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Copyright (c) 2023 Alexander Rosado-Serrano, Antonio Navarro-García
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