• Title/Summary/Keyword: Virtual Retail

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Digital Distribution in Preparation for the 4th Industrial Revolution: Focused on the Beauty Industry

  • Hye Jeong, KOO;Ki Han, KWON
    • The Journal of Industrial Distribution & Business
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    • v.14 no.2
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    • pp.21-33
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    • 2023
  • Purpose: After using the Internet, the world is changing through several paradigms, and the retail industry, which is essential to living in the world, is also changing rapidly. In this review paper, the requirements that the retail industry should consider and prepare in accordance with the rapidly changing paradigm were reviewed according to the current situation of the times. Research design, data, and methodology: It is a review of technological development using PRISMA flow diagram, retail change, and necessity in April 2022, and a review of the digital environment to be applied to the retail industry in the future. Results As the current situation and changes of retail, and the development of IT technology, reviews on the retail business applying the 4th Industrial Revolution, the Internet of Things and artificial intelligence were collected, and the direction of the retail industry was suggested. Conclusions: The direction for the retail industry in preparation for developing technologies was presented. In addition, this study is a review paper that suggests the need for research on active introduction of new technologies to the beauty market that is very close to human life and economically helpful as IT technology for the 4th industrial revolution develops rapidly.

A comparative study between Korea and the USA on the development process in retail trade & its changing locations (소매업의 발달과정과 입지 변화에 관한 한.미 비교 연구)

  • Jeon, Kyung-Sook
    • Journal of the Korean association of regional geographers
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    • v.6 no.2
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    • pp.21-40
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    • 2000
  • The retail trades in many countries have changed recently according to the high quality, diversification, and marked individuality of consumer needs. Under the continually competing system of the WTO agreement, corporations based in the USA and the EU try to raise their market share in other countries so it is inevitable for Korean retail enterprises to compete with them. This paper is aimed at contributing to the efficient growth for Korean retail trade from the analysis of the development process in retail trade and its changing locations comparing Korea and the USA. Retailers in the USA have practiced diversified marketing strategies considerably in order to survive in a rapidly changing retailing environment. American retailing, which has the most advanced marketing system in the world, has been of growing concern to marketing strategies in Korea. The following is a brief summary of this study. 1. Speedy and higher quality consumption is needed in accordance with the great increase in the single-family household and the female labor force participation both in Korea and in the USA. Senior citizens have become a new consumer group due to the aging population. In the future the retail trade will switch over to diversified retail formats and internet shopping as countries are transformed into information and communication societies. 2. In Korea, the former retail system characterized by markets and department stores has been greatly changed since the late 1980s with emphasis on high quality and convenience in consumption behaviors, with large domestic enterprises and foreign distribution corporations participating in Korean retailing. In the USA, retailing mergers and takeovers by major retails, bankruptcies, and extra-large shopping centers have emerged since the late 1980s. Recently, the USA retailing formats have been changed from the lower price-oriented discount types to the large scale theme parks. Much emphasis was put on entertainment, resorts, and convention centers. On the other hand, non-store types, such as the internet shopping, the CATV shopping, as well as catalog and mail-order sales are drastically increasing, although the proportion of their sales is low up to now. 3. In Korea, most of the retail facilities are concentrated in Seoul and the Metropolitan Region, and the distribution ratio of facilities came to 52% in 1997. The periodic markets, traditional markets which open on a periodic basis, are located mainly in Chollanam-do and Kyungsangbuk-do. The large-sized discount stores have expanded their locations to the over-crowded apartment complexes in new towns, located in the Metropolitan Region, and the large provincial cities, unlike the suburban locations in the USA. Therefore we needed to give attention to the locational relations in retail facilities between Seoul & the Metropolitan Region and rural settlement areas. In the USA, urban areas grew quickly with the development of the automobile in the 1920s, and the location of stores changed from a dispersed style centering around rural areas to a centralized one in urban areas. There is an accelerated growth for suburban areas, which have grown rapidly since 1950. As the membership warehouse clubs were introduced in the 1970s, the decentralization of location was more intensified. On the other hand, inner cities were revitalized by rearranging existing facilities to cope with suburban areas. And the location-free virtual retailing & TV shopping are also growing every year. 4. In view of the above, the continuous and desirable development devices in Korean retail trade are summarized as follows: First, the countermeasures against economies of scale, increase in retailing sales, and rise of a employment percentage in retailing are in need. Second, a scheme of lowering the proportion of food retail sales, and increasing a ratio of durable goods sales need to be worked out. Third, the original ideas are needed to apply positively information, communication and technology to retailing, to graft the traditional types on modem ones based on the social culture. Fourth, strategies are needed to strengthen the competitiveness of our retail trade through cooperation and chains of smaller retailers, the large enterprises participating in the distribution industry. Fifth, in order to realize the above, the retail industry, the administration, and the academic world should support the retail segment with concern and a practical strategy plan.

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An Evaporative System Monitoring Method Using a Virtual HC Sensor (가상 HC 센서를 이용한 Evaporative System Monitoring 방법에 대한 연구)

  • 서진호;박재홍;윤형진
    • Transactions of the Korean Society of Automotive Engineers
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    • v.11 no.2
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    • pp.40-47
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    • 2003
  • This paper presents a new evaporative system monitoring method using a virtual HC sensor for an automotive on-board diagnosis. A development was made at providing mathematical expressions from the lambda control information to estimate the HC mass flow purged into the intake manifold from the canister for implementing a virtual HC sensor. The change of the lambda averagevalue reflected the influence of the additional fuel from purging results the sensor estimation of the purged HC amount. Based on this virtual HC sensor, a new evaporative system monitoring method was proposed comparing the amount of purged HC amount with the amount of the HC gas evaporated from the fuel tank and absorbed into the canister. Finally, the method was validated with a simulation using the data logged from the retail car.

Qualitative Research on Fashion Product Shopping and Retail Therapy (패션제품 쇼핑을 통한 리테일 테라피 효과에 대한 질적 연구)

  • Ahn, Ga Young;Lee, Yuri
    • Journal of the Korean Society of Clothing and Textiles
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    • v.42 no.3
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    • pp.411-427
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    • 2018
  • This study is to understand the inner psychological state of consumers who pursue a retail therapy effect through fashion product shopping. Qualitative research on the whole process from the point of time of occurrence of shopping motivation to the end of shopping motivation was performed. The researcher became a virtual shopping partner during shopping and conducted a natural conversation interview using a mobile instant messenger program (Kakao Talk). After shopping, participants were asked to write a diary on that day. Collected data were analyzed by applying the grounded theory approach suggested by Strauss and Corbin (1998). Casual Condition, represented everyday stress and Contextual Condition indicated the self-healing consumption trend. Main Phenomena showed a mood change during the fashion shopping process. The sense of emancipation from the place, the satisfaction from the maintenance of social relations, and the sense of accomplishment through purchases were revealed. Intervening Condition showed the consideration in the process of shopping for fashion products, such as providing a try-on experience, price promotion, and involvement of a companion. Action Interaction Strategy was the shopping behavior for the positive emotion increase and negative emotion decrease. Consequence represented a retail therapy in shopping for fashion products.

A Retail Strategy for the Prosperity of the Art Market within Online Distribution Channel

  • Soomin, HAN
    • Journal of Distribution Science
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    • v.21 no.3
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    • pp.113-121
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    • 2023
  • Purpose: Online distribution channel alludes to the many different digital channels utilized in marketing and distributing goods and services to end users. The present research aims to explore and provide various retail strategy for the success of the art market within online distribution channel. Research design, data and methodology: The current author has conducted and investigate the qualitative textual methodology to take a look at carefully the current and prior literature dataset to achieve the purpose of the present research so that the present author could obtain total 27 relevant prior studies. Results: According to the comprehensive literature investigation, this research has found that there are six kinds of retail strategy for the prosperity of the art market within online distribution channel as follows: (1) Blockchain Technology, (2) Artificial Intelligence (AI), (3) Virtual Reality (VR), (4) Online Market Places, (5) Social Media, and (6) Regulations. Conclusions: The results of this analysis of the relevant literature show that the art market industry needs to adjust to keep up with the quickly shifting landscape of the digital world. In addition, although these technologies can be helpful in addressing difficulties linked to authenticity and transparency, they cannot eliminate the hazards of fraud and misrepresentation.

Metaverse and the Evolution of Food and Retail Industry

  • CHA, Seong-Soo
    • The Korean Journal of Food & Health Convergence
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    • v.8 no.2
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    • pp.1-6
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    • 2022
  • Purpose: This study aims to examine the opportunities in the food industry in the context of non-fungible tokens (NFTs) and the metaverse. The metaverse expands offline experiences into a virtual space and provides users with the advantage of overcoming the limitations of physical space. Research design, data and methodology: With the development of various contents based on advanced technology, the metaverse is becoming popular among the MZ generation (comprising millennials and Gen Zs), who are skilled at navigating digital platforms. Moreover, the previously entertainment game focused service has expanded to the business field after COVID-19; activities on the metaverse are now making space for economic value creation. I examined the recent global trends in the context of NFTs and the metaverse as well as the existing cases in Korea. Results: Globally, gaming and performance platforms such as Roblox, Fortnite etc. are still concentrated in the entertainment industry. However, as shown by ZEPETO and ifland in Korea there are many opportunities in the retail and food industries. Conclusions: We analyzed the ecosystems of the retail and food and beverage sectors, where the metaverse will be useful in the future, and have suggested the implications of the opportunities provided by the metaverse.

The Effect of Ideal Avatar on Virtual Brand Experience in XR Platform

  • Joo-Eon JEON
    • Journal of Distribution Science
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    • v.21 no.10
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    • pp.109-121
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    • 2023
  • Purpose: This study aims to verify whether avatars that embody different brand concepts offer different experiences to users. Furthermore, this study explores the relationship between user identification with avatars and their actual brand purchase intentions. Research design, data and methodology: The research design employed a between-subjects approach, with two independent variables: brand concept and avatar. The measured dependent variables were brand experience in extended reality (XR) and purchase intention. Additionally, brand attitude served as a control variable. Results: First, in virtual brand spaces with symbolic benefits, ideal avatars were found to elicit higher levels of brand experience than actual avatars. Specifically, participants reported elevated levels of entertainment and relational assembly experiences in symbolic brand spaces. Second, this research reveals that the relationship between users' identification with avatars and their intention to make actual brand purchases is mediated by brand experience in XR. Conclusions: The findings suggest that ideal avatars evoke higher levels of brand experience within symbolic brand spaces, particularly in entertainment, relational connection, and a sense of community. Furthermore, this study establishes the role of brand experience in XR as a mediator between avatar identification and purchase intentions.

The study on effect of policy change on competitive aspect between telecommunication companies (정보통신 정책변화에 따른 통신사업자간 경쟁구도 연구)

  • Eom, Hyeon-Ji;Lee, Hong-Chul
    • Journal of the Korea Academia-Industrial cooperation Society
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    • v.18 no.1
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    • pp.553-564
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    • 2017
  • We analyzed the effects of government intervention on competition structure of telecommunication companies.. Results showed a decrease in market share difference among mobile telecommunication companies due to increased competition caused by the introduction of mobile virtual network operators (MVNO) and mobile number portability. We also found that the introduction of the MVNO caused a relaxed competition structure between network operators. Furthermore, we observed an increased subscriber influx of late adapters after the introduction of the Mobile and Service Retail Regulation Law (MRL). However, we found a gradual decrease in the competitiveness of MVNO following the introduction of MRL. In addition, the introduction of Mobile and Service Retail Regulation Law had a negative impact on customer churn as well as the financial structures of telecommunication companies.

An Exploratory Study on Experience of Luxury Brand Virtual Fashion Show (럭셔리 패션 브랜드 가상패션쇼 경험에 대한 탐색적 연구)

  • Hyojo Jung;Eunju Ko
    • Journal of Fashion Business
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    • v.27 no.2
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    • pp.70-87
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    • 2023
  • Today, VR, AR, and MR technologies that travel between real world and virtual world are rapidly developing. These technologies are adopted in luxury fashion brands for virtual fashion shows and runways, virtual retail shops and virtual fitting services. Despite its growth potential and social importance, virtual fashion space has been studies insufficiently. Therefore, this study aimed to examine the consumer experience on the virtual fashion space types, components of virtual fashion space, perceived value, and continuous usage intention. Prada, one of the most active luxury fashion brands in the VR field, was selected as the stimulus for an in-depth interview. Participants experienced virtual fashion show space through VR device (Oculus Quest 2 from Meta) before responding to the questions about their experience. Results showed that material space was more like virtual whereas perceptual space felt like reality. Participants could imagine about more virtual image from material space and more real image from perceptual space elements. Moreover, perceptual space enhanced the immersion, presence, and interactivity compared to material space. Most participants perceived that the virtual fashion show was useful and playful, leading to the continuous usage intention. It implies that improvements for some technical limitation from VR device and virtual contents can provide quality consumer experience in the future. Based on results of this study, fashion companies can establish useful marketing strategies for consumers' immersive and playful experiences when introducing virtual fashion space.

A study on the MVNO Wholesale Price in Competitive Communication Service Market (경쟁적인 통신서비스 시장에서 MVNO 도매대가 산정에 관한 연구)

  • Sawng, Yeong-Wha;Bae, Khee-Su;Jeon, Heung-Joo
    • Journal of Information Technology Applications and Management
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    • v.19 no.2
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    • pp.217-231
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    • 2012
  • In the past, companies should make enormous facility investment and acquire a right to do business in order to join communication markets, but now they can do business without important facilities, such as communication networks. Such a movement to ease regulations about companies which want to newly join the communication industry is expected not only to change a competition frame of the mobile communication market but also to greatly affect the entire communication industry. Through this study aiming to look into a way to calculate a reasonable wholesale price related to the government's introduction of the Mobile Virtual Network Operator (MVNO) system, I came up with a following result. I applied the operating profit percentage and the ratio of operating gain to cost to the cost plus model and retail minus model, respectively, to calculate the wholesale price and found that when I calculated with the cost plus model applying the operating profit percentage, I could get the highest wholesale price. On the other hand, I got the lowest wholesale price with the retail minus model by applying the operating profit percentage. Division of expenses and calculation of profit percentage are important factors in calculating the wholesale price and such results are expected to help accurate calculation of the MVNO wholesale price.