Chapter 5: The Influence of Economic Theories on the Value of Retail Design: A Designer’s Perspective

Value is an important factor that influences how retail owners and managers make decisions on retail store design. However, these retailers are not always influenced by the same value systems and intentions as retail designers. The way that value is determined differs vastly between these two disciplines and the way retailers interpret the value of retail store design tends to have a history based on existing economic theories [1]. This chapter will describe how economic theories influence the way economists view value creation of retail design and challenge disciplines to reconsider assumptions on the value of retail design beyond the levels afforded by traditional approaches. The chapter concludes by advocating for a more holistic approach that includes economic value equation with qualitative descriptions and observations to evaluate the effect of retail design on retailing without one discipline having primacy over the other.