Social Media Strategies in the Retail Sector

Abstract

During the last twenty years , the world of commerce has expanded beyond the traditional brick-and-mortar high street to a global shop front accessible to billions of users via the Worldwide Web (WWW). Consumers are now using the web to immerse themselves in virtual shop fronts, using Social Media (SM) to communicate and share product ideas with friends and family. Retail organisations recognise the need to develop and adapt their strategies to respond to the increasing use of SM. New goals must be set in order to identify how companies will integrate social media into current practices. This research aims to suggest an advisable and comprehensive SM strategy for companies operating in the global retail sector, based on an exploratory analysis of three multi-national retail organisations' existing SM strategies. This will be assessed in conjunction with a broader investigation into social media in the retail industry. From this, a strategy will be devised to improve internal and external communication as well as knowledge management through the use of social media. Findings suggest that the use of SM within the retail industry has dramatically improved collaboration and communication processes for organisations as they are now able to converse better with stakeholders and the tools are relatively simple to integrate and implement as they benefit one another.

Knowledge Management for the Micro Enterprise: A Taxonomy

“…Mansfield et al's (2021) paper identifies the "lack of resources", the "paucity of data governance policies" and opposition toward "accepting new practices and knowledge" as the main factors in smaller enterprises that determine the use of KM. Sadler & Evans (2016) supports this by stating that although "KM is now easier to implement and manage" it should "not be underestimated as 'easy to implement'" and proceeds to explain that "it requires change from all levels of management and a shift in culture" to be of potential value. This implies that the smallest of firms would find it easier to change organizational culture and have fewer strata of management to contend with.…”