An Examination of the Characteristics of Retail Development in an Emerging Market: From the Perspective of Service Innovation

• Published in: The Kyoto Economic Review Vol. 198; no. S; pp. S19 - S30
• Main Author: TRAN, Thi Tuyet Nhung
• Format: Journal Article
• Language: Japanese
• Published: Kyoto University Economic Society 28.02.2024; 京都大学経済学会
• Subjects: Customer experience; Dual model; Emerging market; Retail; Service innovation; サービスイノベーション; デュアルモデル; 小売業; 新興国; 顧客経験
• ISSN: 0013-0273; 2758-3988
• DOI: 10.57475/keizaironso.198.S2

This paper examines and theorize the characteristics of retail development in emerging markets from the perspective of service innovation. Retail in emerging markets has been changed dramatically in recent years, garnering significant attention in research. A large number of studies have been extensively analyzed retail development from various aspects such as the development of retail formats, the organization of distribution channels, historical changes, and internationalization of retail firms. However, the studies from the service innovation perspective remain limited. Moreover, the predominant research has been focused on the retail in developed countries, resulting in a deficiency of studies targeting emerging markets. Therefore, this paper specifically examines the retail sector in Vietnam, a Southeast Asian emerging country, from the perspective of service innovation. The research results indicated that customer experience and value co-creation have been central axes for numerous innovations in the retail development of Vietnam. It represents a dual model retail where both modern and traditional retail coexist. This study added new perspectives on the characteristics of retail development in emerging markets.