+7 925 966 4690, 9am6pm (GMT+3), Monday – Friday
ИД «Финансы и кредит»

JOURNALS

  

FOR AUTHORS

  

SUBSCRIBE

    
National Interests: Priorities and Security
 

Transformation of retail risk in the post-epidemic period

Vol. 17, Iss. 7, JULY 2021

Received: 25 March 2021

Received in revised form: 12 April 2021

Accepted: 30 April 2021

Available online: 15 July 2021

Subject Heading: THREATS AND SECURITY

JEL Classification: D22, L81

Pages: 1261–1276

https://doi.org/10.24891/ni.17.7.1261

Larisa A. CHALDAEVA Financial University under Government of Russian Federation, Moscow, Russian Federation
chaldaeva45@mail.ru

https://orcid.org/0000-0001-6203-4968

Denis A. KOROLEV Ernst & Young, Moscow, Russian Federation
denis.a.korolev@ru.ey.com

ORCID id: not available

Andrei V. BAIER Ernst & Young, Moscow, Russian Federation
andrew.bayer@ru.ey.com

ORCID id: not available

Anatolii A. KILYACHKOV Center for Security Studies of Russian Academy of Science (RAS), Moscow, Russian Federation
AAKil@mail.ru

https://orcid.org/0000-0002-6950-4085

Subject. The article discusses the transformation of retail risks in the post-epidemic period. The pandemic altered the consumer behavior, thus inducing new risks. E-commerce risks are on agenda. However, some other risks were overlooked, though they relate to changes in consumer preferences, strict hygienic requirements, etc
Objectives. We look for new retail risks, which emerge as a result of changes in the consumer behavior during the pandemic. We suggest how retail companies should mitigate the risks.
Methods. Retail risks were identified through the content analysis of available sources and evaluate their content.
Results. We found new retail risks arising from changes in the consumer behavior of people, including cyberattack risks at retail enterprises, sale of counterfeit or low-quality products, theft, etc.
Conclusions and Relevance. To mitigate retail risks in the post-epidemic period, companies need to perform some actions. They should establish the internal cybersecurity department, order independent audit, use the AI technology, etc. The above activities will require significant financial resources and professional talent. Therefore, most of the activities are affordable only for large retail chains.

Keywords: shopping behavior, online trade, essential needs, cyberattack, counterfeit product

References:

  1. Chapelle A. Operational Risk Management: Best Practices in the Financial Services Industry. Wiley, 2018.
  2. Crouhy M., Galai D., Mark R. The Essentials of Risk Management. 2 edition. McGrow Hill Education, 2014.
  3. Funston F., Wagner S. Surviving and Thriving in Uncertainty: Creating The Risk Intelligent Enterprise. Wiley, 2010.
  4. Kanu M. A Theoretical Framework for Enterprise Risk Management and Organizational Performance. International Business Research, 2021, vol. 14, no. 5, p. 63. URL: Link
  5. Marks N. World-Class Risk Management. CreateSpace Independent Publishing Platform, 2015, 234 p.
  6. Woods M. Risk Management in Organizations: An Integrated Case Study Approach. Routledge, 2011, 196 p.
  7. Howard R.A., Abbas A.E. Foundation of Decision Analysis. Pearson, 2015, 832 p.
  8. Kahneman D. Thinking, Fast and Slow. New York, Farrar, Straus and Giroux, 2011, 512 p.
  9. Thomas P., Bratvold R.B., Bickel J.E. The Risk of Using Risk Matrices. SPE Annual Technical Conference and Exhibition, 2013. URL: Link
  10. Hubbard D.W. The Failure of Risk Management: Why It's Broken and How to Fix It. Wiley, 2020, 336 p.
  11. Frohnhoefer R.W. Risk Assessment Framework: Successfully Navigating Uncertainty. PPC Group, 2019, 221 p.
  12. Hopkin P. Fundamentals of Risk Management: Understanding, Evaluating and Implementing Effective Risk Management. 5th edition. The Institute of Risk Management, Kogan Page, 2018, 480 p.
  13. Lam J. Enterprise Risk Management: From Incentives to Controls. Wiley, 2014, 496 p.
  14. Taleb N.N. Fooled by Randomness: The Hidden Role of Chance in Life and in the Markets. Penguin, 2007, 368 p.
  15. Hubbard D.W. How to Measure Anything Workbook: Finding the Value of "Intangibles" in Business. Wiley, 2014, 160 p.
  16. Kaneria K. Cyber Security in Business, 2021. URL: Link

View all articles of issue

 

ISSN 2311-875X (Online)
ISSN 2073-2872 (Print)

Journal current issue

Vol. 20, Iss. 4
April 2024

Archive