Towards Corporate Shared Value in Retail Sector: A Comparative Study over Grocery and Banking Between Italy and the UK

Abstract

The research investigates the extent to which Banking and Grocery retailers use Corporate Social Responsibility (CSR) in accordance to evolving consumers’ expectations and build a strategic model of Corporate Shared Value (CSV) to strive for economic and social returns simultaneously. The paper adopts a qualitative approach, based on the comparative case study methodology by investigating a sample of twelve Banking and Grocery retailers in Italy and the UK. Differences and similarities in CSR as new strategic model among countries and retail sectors emerge, with UK companies from both the sectors showing the most formalized integration of CSR within their business strategy. The chance for both Italian and UK retail companies is to adopt the best practices emerging from the case studies to turn their CSR programs into a strategic business model of CSV that will allow a stronger retailer-consumer relationship based on social improvements and a reinforcement of their brand image.
Classification-JEL: F02, F15, F36
Keywords: Corporate Social Responsibility, Corporate Shared Value, Banking retailers, Grocery retailers, Branding, consumers’ perception