Factors affecting acceptance of smart retail solutions in Hungary: an empirical study using UTAUT2 model

In today's digitalisation process, retail is also undergoing a transformation, with the emergence of new smart solutions. Integrating intelligent solutions into a business model means new strategic challenges for retailing companies. The aim of the research is to examine the factors influencing the behavioural intention and use behaviour of smart retail solutions (SRS). The proposed model was based on the extended Unified Theory of Acceptance and Use of Technology (UTAUT2). Data was collected by conducting a questionnaire of 302 Hungarian respondents. Confirmatory factor analysis (CFA) and partial least squares (PLS-SEM) estimation were implemented. The results showed that behavioural intention is significantly and positively influenced by effort expectancy and it is significantly and negatively influenced by facilitating conditions. Most of the respondents are not yet regular users of SRS, and the market penetration of front-end intelligent solutions in retail is considered as rather low.

JEL code: M10, M31, O14

Empirical research on corporate strategies in Hungarian dairy industry

Corporate strategy has never been as important as it is nowadays. Markets are changing rapidly because of consumer demands, innovations, information flow and economic changes. Our paper concentrates on Hungarian dairy industry (hereinafter dairy) and four main objectives were defined to be analysed: (1) domestic dairy company features, (2) main strategic characteristics, (3) how companies’ strategy resonates on the consumer side and (4) companies’ financial background were analysed as well. A company database was made in order to prepare for the primary research and to understand better the nature of today’s market. B2B (26 companies) and B2C (503 people) surveys were used in order to gain primary data. In 2017 132 Hungarian companies were observed in milk processing, but 44% of the market participants are not present in dairy competition. It is a fairly fragmented market structure because 10-20% of the annual turnover is accumulated among the 80-90% of competitors. The factor analysis of the data proved that the dairy companies followed m strategies at the same time; and it is assumed that most of them are unconscious. Strategically, the majority of the dairy sector is not up-to-date and modern enough. SMEs sector management skills and strategic preparedness are considered to be out-of-date and insufficient. Strategic planning can possibly have an influence on financial results, which was only partly proved by the analysed criteria system. The production and use of own raw milk supplies might make companies experience financial benefits. Nearly 78% of the respondents would rather purchase goods made from own raw material. The willingness to pay a higher price for this was in average 5-15%.

JEL Code: L1, L66