Article metrics

  • citations in SCindeks: [1]
  • citations in CrossRef:0
  • citations in Google Scholar:[=>]
  • visits in previous 30 days:21
  • full-text downloads in 30 days:9
article: 1 from 38  
Back back to result list
Ekonomika preduzeća
2018, vol. 66, iss. 1-2, pp. 151-165
article language: English
document type: Original Scientific Paper
published on: 03/05/2018
doi: 10.5937/EKOPRE1802151P
Digital economy and (non) incremental changes in tourism and retail business model
aUniversity of Belgrade, Faculty of Economy, Department of Business Economics and Management
bMinistry of Trade, Tourism and Telecommunications, Government of the Republic of Serbia + University Singidunum, Faculty of Economics, Finance and Administration - FEFA, Belgrade
cGfK CEE Business Development


Digitalization of business changes producers, intermediaries, service providers and consumers. There is a vast quantity of data available. Furthermore, new algorithms providing answers from these data are also more and more available. Finally, devices possessed by an average citizen enable choice and pattern of shopping to be shaped by these answers. So, the question is whether the businesses are facing the evolution or revolution of the existing business model? Tourism industry and retail industry are analyzed in this paper in order to search for an answer to this research question.



*** (2017) A compilation of statistics for the tours and activities sector. Retrieved December 20, 2017 from
*** (2016) Google urges travel brands to make it simple, personal and mobile. Retrieved December 20, 2017 from
*** (2017) Holiday retail search strategies 2017. Retrieved January 9, 2018 from
*** (2017) Machine learning: How technology advances human intelligence. Retrieved November 14, 2017 from
*** (2016) Report of the strategic policy forum on digital entrepreneurship. Retrieved December 10, 2017 from forum/index_en.htm
*** (2017) The ultimate list of marketing statistics. Retrieved December 15, 2017 from
*** (2017) Year 2017: The most important year for travel tech since 1994?. Retrieved December 15, 2017 from https://www.
Bastin, R., Hedea, I., Cisse, I. (2014) A big step toward the European Digital Single Market. Deloitte Inside Magazine, 13(3). Retrieved January 5, 2018 from step-forward-the-european-digital-single-market.pdf
Bloem, J., Doorn, M.V., Duivestein, S., Excoffier, D., Maas, R., Ommeren, E.V. (2014) The fourth industrial revolution: Things to tighten the link between IT and OT. Groningen: Sogeti VINT
Bright Local (2017) Local consumer review survey. Retrieved January 6, 2018 from
Chaffey, D. (2010) Applying organisational capability models to assess the maturity of digital-marketing governance. Journal of Marketing Management, 26(3-4): 187-196
Chroneos-Krasavac, B., Soldic-Aleksic, J., Petkovic, G. (2016) The big data phenomenon: The business and public impact. Industrija, vol. 44, br. 2, str. 117-144
Dobson, P.W. (2005) Exploiting buyer power: Lessons from the British grocery trade. Antitrust Law Journal, 529-562; 2
EC DESI (2018) Digital economy and society index. Retrieved January 5, 2018 from, accessed January 5, 2018
Ernest Young (2015) Global generations: A global study on worklife challenges across generations. Retrieved January 5, 2018 from$ FILE/EY-global-generations-a-global-study-onwork
Evans, D. (2011) The Internet of things: How the next evolution of the Internet is changing everything. San Jose. Ca: Cisco IBSG
Eymann, T. (2016) The Uncertainty of Information Systems: Cause or Effect of VUCA?. in: Mack, Oliver; Khare, Anshuman; Krämer, Andreas; Burgartz, Thomas [ed.] Managing in a VUCA World, Cham: Springer Nature, str. 227-240
Fundación Orange (2016) Study on digital transformation in the tourism and hospitality sector. Spain: EVOCA
Gerding, E.H. (2004) Autonomous agents in bargaining games: An evolutionary investigation of fundamentals, strategies, and business applications. Eindhoven: Technische Universiteit Eindhoven
Ghose, A., Han, S.P. (2011) An Empirical Analysis of User Content Generation and Usage Behavior on the Mobile Internet. Management Science, 57(9): 1671-1691
Hajime, E. (2015) New Business Opportunities in the Growing E-Tourism Industry. IGI Global
HORES (2017) Research of guests' attitudes about Belgrade as a tourist destination. Center for Hospitality and Tourism Research
HOTREC (2017) Embracing innovation: What makes the hospitality industry tech-savvy and innovative?. Brussels, Hotrec. Retrieved January 9, 2018 from INNOVATION.pdf
Järvinen, J., Karjaluoto, H. (2015) The use of Web analytics for digital marketing performance measurement. Industrial Marketing Management, 50: 117-127
Kny, S. (2017) Microsoft Accelerator-Serie (3) So1. Berlin: Gruender Metropole,, Retrieved January 19, 2018 from 3-so1%20
Kowalkiewicz, M., Rosemann, M., Dootson, P. (2017) Retail 5.O: Check out the future. QUT PwC Chair in Digital Economy
Lamberton, C., Stephen, A.T. (2016) A Thematic Exploration of Digital, Social Media, and Mobile Marketing: Research Evolution from 2000 to 2015 and an Agenda for Future Inquiry. Journal of Marketing, 80(6): 146-172
Mccann, M. (2017) Travel sector running to catch the digital transformation train. Boston, MA: Acquia
Mclellan, L. (2014) Digital marketing budgets increase, reflecting focus on customer experience. Gartner, published 9 January 2014. Retrieved January 5, 2018 from
Merisavo, M. (2008) The interaction between digital marketing communication and customer loyalty. Helsinki: Helsinki School of Economics
OC and C Strategy Consultants (2016) Bits and bytes: FMCG's shift to e-commerce in China. New York
Pine, B.J., Gilmore, J.H. (1998) Welcome to the experience economy. Harvard Business Review, July-August
Preveden, V. (2016) Think act: Beyond mainstream. in: Hotel industry 4.0, Wien: Roland Berger Gmbh
Sachs, G. (2017) Millennials coming of age. New York: Global Investment Research
Shankar, V. (2016) Mobile Marketing: The Way Forward. Journal of Interactive Marketing, 34: 1-2
Statista (2017) Change in digital marketing spending and traditional advertising according to CMOs in the United States from 2012 to 2017. Retrieved January 5, 2018 from budget-change-according-to-cmos-usa
Taiminen, H.M., Karjaluoto, H. (2015) The usage of digital marketing channels in SMEs. Journal of Small Business and Enterprise Development, 22(4): 633-651
Tnooz (2017) Retrieved December 20, 2017 from
Tourist Organization of Serbia (2015) Attitudes and behavior of domestic tourists in Serbia in 2015. Belgrade: NTOS
Tourist Organization of Serbia (2016) Attitudes and behavior of foreign tourists in Serbia in 2016. Belgrade: NTOS
TripBarometer (2016) Traveler trends and motivations global findings. Retrieved December 22, 2017 from
UNWTO (2017) Barometer. 15
van Donselaar, K., van Woensel, T., Broekmeulen, R., Fransoo, J. (2005) Improvement Opportunities in Retail Logistics. in: Doukidis, Georgios J.; Vrechopoulos, Adam P. [ed.] Consumer Driven Electronic Transformation, Berlin, Heidelberg: Springer Nature, str. 9-21
Visarius, S. (2017) The future is 'human' retail: The top 7 trends for customer centric retailers. Retrieved January 19, 2008 from
Weiser, M., Brown, S.J. (1995) Designing calm technology. Xerox PARC, December 21. Retrieved January 5, 2018 from
World Economic Forum (WEF) (2017) Digital transformation initiative aviation, travel and tourism industry. Cologny, Geneva, Switzerland, CH-1223
World Economic Forum (2014) Rewards and risks of big data. in: Bilbao-Osorio B., Dutta S., Lanvin B. [ed.] The Global Information Technology Report, Retrieved January 5, 2018 from
Xindong, W., Xingquan, Z., Gong-Qing, W., Wei, D. (2014) Data mining with big data. IEEE Transactions on Knowledge and Data Engineering, 26(1): 97-107
Zeimpekis, V., Giaglis, G.M. (2005) A Dynamic Real-Time Vehicle Routing System for Distribution Operations. in: Doukidis, Georgios J.; Vrechopoulos, Adam P. [ed.] Consumer Driven Electronic Transformation, Berlin/Heidelberg: Springer Nature, str. 23-37