The Future of Harvey Norman Store: Strategies for Success in Retail

This report examines the future of Harvey Norman, a leading Australian retail store dealing in electronics, computers, furniture, and bedding. The analysis focuses on how Harvey Norman can adapt to the evolving retail landscape, particularly in the face of digital technology and e-commerce. The report emphasizes the importance of integrating online platforms with physical stores to enhance customer service and reduce complaints. Key strategies discussed include employee training in e-commerce, focusing on customer experience, and leveraging technology like online retail platforms and drone delivery to reduce costs and increase opportunities. The report references several academic sources to support its findings and offers insights into the future of retail strategies for Harvey Norman, emphasizing the importance of a strong brand presence and adapting to online shopping trends.

THE FUTURE OF HARVEY NORMAN STORE 1
THE FUTURE OF HARVEY NORMAN STORE
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Harvey Norman is among the leading stores dealing in electronic devices, computers,
furniture and bedding in Australia. It has opened several stores in different parts in the globe to
boost their products sale internationally. The retail store stocks a huge variety of products such
computers with advanced technology and appliances which have emerged as a result of the
emerging innovations. The Harvey Store applies this strategy to make sure that their physical
retail will not be overtaken by the digital technology. This is because that the customer should
first come into encounter with the product before placing the order. To facilitate this, the
company feels that having an online platform will improve service delivery to their customers as
well as reduce customer complaints that may result from defect products that they may purchase
without knowing. To ensure that their physical retail is at the top, they provide their customers
with high quality products and service (Harvey Norman, 2014).
It is impossible to have an online platform without first having the physical platforms
where the customer will have a chance to test the products they are willing to buy before making
the actual purchase (Saha, 2013, p. 74). To facilitate the effectiveness of the online platform over
the physical retail store, the company should engage in training its employees in line with the
modern e-commerce activities requirements. Focusing on the productivity of the company will
ensure that the stores will grow together with the online platforms. For example, Harvey has
experienced great growth as result of its physical stores that have been able to generate profit
from its operation. Making the company to be the brand in the mind of every customer acts as a
way of ensuring that there is survival of the retail store. Thereby operators should ensure that
their customers are aware of the products they will find in the store. Once, this has been
achieved; then it would the right time to establish the online retail platform.

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Since the technology offers online services where consumers get the opportunity of
buying the products at any time of their wish, companies should improve the services they render
to their physical stores. This is because the physical stores will give customers an opportunity
and bond with the brands available. Therefore, marketers should stop competing on the matters
related to price but instead, focus on their experiences related to distribution (Tsan-MingChoi et
al., 2013, p. 2).
Use of online retail platform is a key thing behind the success of retail stores whereby it
will provide a composite viewing to the customer. Incorporation of this new technology
advanced will ensure that its online retailing will be dominant in the retail industry in future
(Rigby, 2012). This is because it will reduce retailing cost and increase the number of
opportunities. Use of drones will ensure that the customers will have a quick delivery of the
goods they order form the stores (Saha, 2013, p. 76). The technology on online retailing is cheap
and simple for both customers and employees to use and hence contribute to the overall
reduction of the retail stores running costs.

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References
Harvey Norman, 2014. About Us. [Online]
Available at: http://www.harveynorman.com.sg/corporate-information/about-us.html
[Accessed 19 September 2017].
Rigby, D. K., 2012. The Future of Shopping. [Online]
Available at: https://hbr.org/2011/12/the-future-of-shopping
[Accessed 19 September 2017].
Saha, A., 2013. A Study on "The impact of online shopping upon retail trade business." Journal
of Business and Management, 5(2), pp. 74-78.
Tsan-MingChoi, et al., 2013. Service Quality of Online Shopping Platforms: A Case-Based
Empirical and Analytical Study. MathematicalProblemsinEngineering, 1(1), pp. 1-9.