Financial Sustainability of Innovative Technology in Retailing

Abstract

The main purpose of this chapter is to address two important areas for successfully managing retail businesses—financial sustainability and innovative technology—in order to find out in which ways they affect each other. In order to clarify the financial sustainability of innovative technologies and the ways innovative technologies contribute in achieving financial sustainability in a retail company as a whole, it has been explored in grocery retailing in the Republic of Croatia. The results of a study among the top retail companies operating in the Croatian market suggest that innovative technology has the highest priority in their strategic and financial planning as one of the four fundamental pillars of financial sustainability. However, the results also indicated a long payback period after the implementation of new technological solutions.