MODERN TRENDS IN THE DEVELOPMENT OF THE SERVICE SECTOR

Keywords: service economy, service quality determinants, competitiveness, client-oriented approach, value-oriented service quality concept, innovation strategy

Abstract

The article discusses the development trends and features of the functioning of the service sector in the modern economic space, taking into account the innovative focus. Attention is focused on the importance of the quality of services as the basis of their competitiveness. The list of service quality determinants has been specified. It’s emphasized that the main task of ensuring the quality of services in accordance with a client-oriented approach is to meet or exceed consumer expectations. It is indicated that innovations in the service sector characterize new models of interaction with customers and the provision of services. A new form of providing traditional services (shopping and entertainment) in a shopping and entertainment complex to meet the material and spiritual needs of consumers is considered. The most important determinants of these services are characterized. It is concluded that trading services, supplemented by entertainment, are filled with new content and, as a result of synergy, more intensively and fully satisfy customer needs, thereby increasing their level of competitiveness. It’s emphasized that the quality of the service becomes the main competitive advantage, and high quality is an important condition for its production and consumption. The prospects for the development of the service sector are outlined. The service sector combines a wide range of economic activities aimed at meeting the personal needs of the population and the needs of production, as well as the consumption of society as a whole. Strengthening the role and importance of the service sector, due to global trends: advances in science and technology, the appropriate level of international division of labor, economic growth and development of world society. The service sector takes a significant role in the development of human capital, creating opportunities for better satisfaction and development of the needs of people and society. The service sector is one of the most promising sectors of the economy. One of the most important patterns of economic development around the world is the connection between economic growth and increasing the role of services in the national economy.

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Published
2021-12-28
How to Cite
Shvets, L., Redko, N., & Dudka, T. (2021). MODERN TRENDS IN THE DEVELOPMENT OF THE SERVICE SECTOR. Economy and Society, (34). https://doi.org/10.32782/2524-0072/2021-34-57
Section
ECONOMICS