Enhanced Buying Experiences in Smart Cities: The SMARTBUY Approach
The establishment of shopping malls and the growth of online shopping increasingly diminishes the turnover of “small”, independent retailers in urban environments. However, retailers could reverse this trend through complementing the offline experiences they already offer with online offerings and establishing business “alliances” to achieve economies of scale and enable the provision of innovative digital services. The EU-funded project SMARTBUY aims at realizing the concept of a “distributed shopping mall” ecosystem which allows retailers to band together in a large commercial coalition which generates added-value for its retailers-members and customers: centralized products and services inventory management; geo-located marketing of products/services; location-based search for products offered by nearby retailers; personalized recommendations for purchasing products based on innovative recommendation systems. In effect, SMARTBUY proposes a blended shopping paradigm, wherein the benefits of online shopping are combined with the appeal of traditional store shopping. The article provides an overview of the main outcomes and achievements of SMARTBUY. It also reports on conclusions drawn in the context of the project’s official pilot execution in four European cities.
Keywordse-commerce Retailer Shopping Inventory management Product Service Smart cities Smart retailing Geo-located marketing Location-based search Recommendation
This work has been partly supported by the University of Piraeus Research Center. The research has also been supported by the EU H2020 Programme under grant agreement no. 687960 (SMARTBUY). The research work of D. Gavalas and T. Chatzidimitris has been co-financed by the European Regional Development Fund of the European Union and Greek national funds through the Operational Program Competitiveness, Entrepreneurship and Innovation, under the call RESEARCH – CREATE – INNOVATE (project code: T1EDK-01572).
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