Prof. Daniel Corsten This is Me

Education

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1. 1. ECR journal

   www.ecr-academics.org/journal/ - [Cached]

   Published on: 3/31/2007   Last Visited: 3/31/2007

   Daniel Corsten London Business School, United Kingdom

2. 2. Can't Find That Dress on the Rack? Retailers Are Pushing More Shoppers to the Web - Knowledge@Wharton

   knowledge.wharton.upenn.edu/ar - [Cached]

   Published on: 11/1/2006   Last Visited: 12/12/2006

   Daniel Corsten, a former visiting professor at Wharton who now teaches at the London Business School, says he's not convinced the new strategy of pushing in-store customers to the Internet will work.
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   The new strategy stems from retailers' desire to consolidate in-store operations with Internet sales, which now account for 10% to 15% of revenue, says Corsten. He warns that while retailers are wise to give the Internet more attention, the two channels do not necessarily appeal to all customers. "People go to a store because they like going to a store. They already chose not to go to the Internet," says Corsten. "If I go to the Internet and make a purchase, I'm happy. If I go to the shop and make a purchase, I'm happy. But if I'm being shifted from the store to the Internet, then my purchasing process changes. Yes, I get the full assortment virtually, but I wanted the tangible experience."
   
   According to Corsten, retailers that do not stock a full assortment of items risk losing direct sales, but also sales of complementary items. A retailer choosing to pass on carrying certain sizes of jeans will also lose sales of belts and tops to the customers who wear those sizes.
   
   Strategically, he says, if all stores sold only the best sellers, all retailers would begin to look alike. Retailers would lose their competitive advantage and customers would then shop only for the cheapest price or at the closest store.
   
   In order to identify customers who have not found what they are looking for -- because it's not there -- and then convince those shoppers to special order or buy over the Internet, requires sophisticated, well-trained salespeople, he adds. "Finding great staff is always critical," he says.
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   Corsten agrees that shifting low volume sales to the Internet may be more effective for some items, such as electronics, which are standard brands, or appliances, which would be delivered days later anyway. But for apparel and more impulse-driven decisions, the push to limit inventory might backfire. He says research on consumer reactions to items that are out of stock shows that people are willing to switch stores or come back for planned purchases for 'high-involvement items' such as cosmetics or hygiene products. For 'low-involvement' products and impulse purchases, they may simply not make the extra effort -- and the sale is lost for good.
   
   Coaxing shoppers from store aisles to the Internet might work for many items, he adds, "but it will definitely take the magic out of the shopping experience."

3. 3. www.lbs.ac.uk

   www.lbs.ac.uk/operationsandtec - [Cached]

   Published on: 1/8/2006   Last Visited: 1/8/2006

   Daniel Corsten AIM
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   Daniel Corsten AIM
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   Daniel Corsten
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   Professor Daniel Corsten, Operations and Technology Management group
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   Profile - Daniel Corsten