Abstract

The aim of the article. In the article tendencies of retail trade development in Ukraine are highlighted. The impact of environmental factors and consumer trends on the innovative development of retail trade enterprises is determined. Demographic, economic, political and military changes in country for recent years have significant impact on consumption growth in upcoming years. These changes dictate major trends and create new challenges and opportunities for consumers. The main direction of retailer’s activity is to provide population with consumer goods and services, when consumer experience, preferences in selecting a large number of proposed products, services, features and ease of acquisition becomes very important. Therefore, the aim of the investigation is to highlight trends of retail trade development in Ukraine. The results of the analysis. According to the authors’ investigation, Ukrainian consumers in upcoming years will be older, lonelier more urban, poorer, but at the same time socially, environmentally concerned and more educated. That is the reason why active technological upgrades of retailers should be done and new innovative approaches to business activity of retailers should be implemented. The global trends of changes in consumer confidence, such as: expectation values, comfort, well-being, social ethics, transparency and fairness in the selection and purchase of consumer goods can’t be ignored. The influence of environmental factors and consumer trends on development of innovative retailers considered, which are based on the expectations of consumers, problems of industry development, legal issues, innovative challenges and potential solutions in retail are identified. It helps to determine innovation challenges and potential solutions in retail trade. One of the major factors is the information and communication technologies that expand consumer rights and opportunities through their access to different information. Being always online, consumers can receive current and timely information about goods, services, pricing, and have the opportunity to compare, choose methods and delivery time, convenient form of payment for goods or services. The increase of consumer and buyers’ awareness, creating demand for new products and services through various communication channels and communication, affect the frequency and number of purchases and the overall development of the retail trade. The development of trade is connected with taking into account such consumer trends: the formation of the proposition of goods and services, supporting their quality to meet different consumer groups, after-sales service, the introduction of various forms of payment for goods and services and the safety of this process, the development of various types and forms of trade with active use of information and communication technologies.  Conclusions and directions of further researches. We can summarize that retail trade enterprises in Ukraine have many strategic directions for development with high potential by criteria of investment attractiveness and opportunities of implementation.

Keywords: trade enterprise, innovation, retail, consumer trends, information and communication technologies

JEL Classification: F17, M21.

Cite as: Dubovyk T. & Buchatskaya, I. (2017). Innovative orientation of retailers development. Marketing and Management of Innovations, 1, 223-230. https://doi.org/10.21272/mmi.2017.1-20

This work is licensed under a Creative Commons Attribution 4.0 International License

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