The effects of acquisition and transaction shopping value perceptions on retail format usage intentions: an illustration from discount stores

Although it becomes increasingly important for food retailers to understand what motivates consumers to use one retail format rather than another, research on retail format choice is sparse compared to store choice. This study examines the extent to which perceived acquisition value of shopping at a retail format and perceived transaction value of shopping at one particular retail format outlet in a specific situation have an impact on retail format usage intentions. In addition, we study the influence of different situation-specific factors on perceived transaction value of shopping at one particular retail format outlet. Taking discount stores as an example, the developed conceptual model is empirically tested using a structural equation approach. The results show that perceived acquisition value of shopping at the retail format plays a dominant role in explaining retail format usage intentions, while perceived transaction value of shopping at one particular retail format outlet, which depends on certain situation-specific factors, is of lesser importance.     

亚市“车易拍”为二手车线购开锁

<正>一种全新的二手车交易规则正在形成:二手车交易双方互不见面,通过服务中心出具的检测报告,直接完成线上竞拍、置换交易。而北京亚运村汽车交易市场二手车交易服务中心,当仁不让地成为这场新规则的推动者,促成了一场"二手车交易规则的变革"。当2009年中国以1300万辆新车下线,成为世界第一产销大国的时候,更多的业内人士意识到:二手车交易,将成为未     

‘Sustainable transport choices’ in consumer shopping: a review of the UK evidence

In the UK, as elsewhere in Europe, government policy aims to reduce the use of private cars for consumer shopping trips. One major instrument of policy aims to ensure that new retail development is located in places accessible by all transport modes. This paper reviews the effectiveness of this and other such policies through analysis of survey evidence relating to routine shopping behaviour in the UK. It appears that these policies are likely to have little impact upon shopping travel, given the advantages to the consumer of private car use. However, demographic trends and increasing use of the Internet for food shopping are likely to stabilize or even reduce the use of private cars in the future.     

Consumer Preferences for Japanese Automobiles

This paper investigates the relationship of automobile attributes and household characteristics to consumer preferences for Japanese cars. The analysis was confined to households that purchased new cars in 1986 and employed two-stage probit analysis. Results indicate that the coefficients of five automobile quality attributes are statistically significant while the coefficients of most household characteristics are not significant. Households interested in more fuel efficient and heavier cars as well as cars with lower depreciation rates and a lower frequency of repair are more likely to buy Japanese than non-Japanese cars. The fact that households buy Japanese automobiles because of quality considerations not because they are small has implications for the U.S. automobile industry which faces increased competition in a global economy.     

The Impact of a New Retail Brand In-Store Boutique and its Perceived Fit with the Parent Retail Brand on Store Performance and Customer Spending

With data from a specialty apparel retailer, we present two studies that investigate the impact of an in-store boutique displaying merchandise of a new retail brand on overall performance of the parent stores in which the boutiques are placed, and on customer spending on merchandise offered by each of the two brands. Findings from the two studies generally support that the in-store boutique enhances three key store-level metrics: average customer transaction value per store visit; comparable sales growth from one year to the next; and customer conversion ratio. At the customer-level both studies show that average customer transaction value on merchandise offered by the new brand is negatively related to average customer transaction value on the parent brand, and vice versa. Furthermore, both studies reveal that the relationship between the perceived fit between the two brands and average customer transaction value on the parent brand increases at an increasing rate (positive main and quadratic effects of perceived fit), but that the impact of perceived fit on average customer transaction value on the in-store boutique brand increases at a deceasing rate (positive main effect, but a negative quadratic effect of perceived fit). Implications for retail practice and theory are offered.     

The paradox of diminishing returns: Measurement and metrics for valuation of B2C sales professionals

Abstract

The realization of channel multiplicity is increasingly present in retail exchanges. Retailers understand that consumers may seek information in one channel and complete their purchases in another channel. Researchers have labeled this retailing concept as “showrooming.” Showrooming suggests that retail salespeople may provide information, services, and suggestions that generate retail sales revenues at another time in another place. While they likely mediate exchange value, retail salespersons’ contributions to building sales revenues and customer relationships may be difficult to measure. The degree of value engendered in the retail sales role set is associated with product and transaction complexity. As such, retail sales functions may range from highly transactional (i.e., facilitating a transaction) to highly relational (i.e., building retail patronage). This article proffers a taxonomy of retail salespeople based on sales role sets: Companions, Consultants, Clerks, and Closers. Managerial recommendations are provided for measuring retail salesperson performance in an omni-channel marketplace.     

Will You Help Me Please? The Effects of Race,Gender and Manner of Dress on Retail Service

This research attempts to determine if a customers visible physical characteristics influence retail service delivery. The results of this study suggest that black and male customers wait significantly longer than white and female customers at retail customer service counters. In addition, females are more likely to experience a positive transaction outcome than males.     

Intellectual Property Securitization and Growth Capital in Retail Franchising

A retail franchisor needs growth capital so that the brand continues to grow and franchisor–franchisee relations remain strong. However, access to corporate liquidity to fund such franchise growth options is not unlimited. A method of raising finance particularly suited to retail franchisors is intellectual property (IP) securitization that allows companies to account for intangible assets such as intellectual property, royalty and brands and realize their full value. In recent years, a number of large restaurant franchisors have securitized their brands to raise funds, including Dunkin Brands and Domino's Pizza (Domino's). We use property rights approach to show that IP securitization provides mechanisms that explicitly define ownership of intangible assets within the securitization structure and thus enables a company to raise funds against these assets. Using a case study example of a retail franchise IP securitization transaction, we also provide evidence that these mechanisms are not overly restrictive and can be used more widely to help fund retail franchise growth and expansion.     

From banger to classic – a model for sustainable car consumption?

Cars are the most complex of consumer durables, yet they are not as durable as one may expect. Each year, millions of cars are scrapped, many still roadworthy or easily repairable. As with other consumer durables, consumers increasingly lose their emotional attachment with their old car in favour of a younger model. Is it possible to remedy this failure of consumer–product relationships in the interest of greater product durability and hence greater environmental sustainability? This paper explores this question in the context of the classic car market and suggests there may be some lessons there that could lead to a more sustainable new car consumption culture.     

Shorter Papers Automobile Quotas Revisited: The Costs of Continued Protection

This paper examines the loss to the U. S. economy and consumers from the third year of the Voluntary Export Restraint (VER) for Japanese automobiles. Losses due to product differentiation were estimated separately for the domestic car market and Japanese car market. Consideration was given to profit taking as well as product upgrading. The welfare loss ranged from $1.8 billion to $2.8 billion which is higher than loss estimates reported for the first year of the VER. The higher welfare loss reflects the impact of improved economic conditions which resulted in higher prices for manufacturers and dealers and the emergence of product upgrading due to quantity restraints. The total loss to consumers ranged from $2.6 billion to $5.3 billion with more than 80 percent of the loss representing transfers from consumers to producers (domestic and foreign). The high cost of the VER has not been offset by employment gains since Detroit responded to the VER by making fewer cars and increasing its reliance on off - shore production.     

Using diffusion models to forecast market size in emerging markets with applications to the Chinese car market

Marketing managers have to forecast the market size and this forecast guides strategic decisions whether to continue exporting, open new factories or expand existing production operations. Forecasting sales and the market size is a challenging task; even more so in emerging markets where data is limited and the market demand is changeable. This research proposes a novel approach that applies diffusion models using car ownership data to forecast car sales. Car ownership data may be easier to access than sales data in emerging markets but marketing managers are more interested in the sales forecast. Researchers propose using diffusion models to forecast the adoption of new products or products which are new to consumers in a market. This research demonstrates that marketing managers can use diffusion models to predict car sales in China where cars are new products to most consumers in this market. Since the majority of car buyers in China are first time buyers, car manufacturers and retailers must also forecast when the market composition will change. This effectively means predicting when first time car buying will start to slow down and repeat/replacement purchase or second hand car purchase will become more important. To forecast both sales and market composition change, marketing managers must choose a robust model. Managers want insights from models that have been tested robustly especially in less stable market conditions. In this context, this study illustrates the value of using a rolling forecast instead of a fixed horizon approach when comparing and choosing which model to use to forecast both sales and market composition change for the Chinese car market.     

Review of studies on digital transaction platforms in marketing journals

ABSTRACT

Digital transaction platforms now intermediate a large number of transactions between end-customers and independent sellers and service providers in many parts of the economy. In retail, for example, Amazon.com now intermediates transactions between end-customers and hundreds of thousands of independent sellers worldwide, while Etsy.com connects artists, crafters, and collectors with buyers of a large range of niche and rare products. The growing popularity of digital transaction platforms, therefore, has significant implications for retail, marketing and distribution scholars as the existing interaction patterns in the value-chain are increasingly replaced by new digital intermediaries. The purpose of this review is, therefore, to examine, through an extensive and rigorous review of research on digital transaction platforms in marketing journals, what we know and what opportunities lie ahead to expand the theoretical and empirical understanding of digital transaction platforms. The review shows that despite increasing multi-disciplinary and managerial interest towards digital transaction platforms and the platform economy, they remain largely unexplored in marketing journals, and the existing research and theorizing attempts remain fragmented. Therefore, there are many opportunities for marketing, retail and distribution scholars to, for example, collaborate with industry and practitioners in order to gain new perspectives and access to novel data sources, and for example, meet the emerging funding requirements of many universities and governmental funding agencies for more rigorous multi-disciplinary research on digital markets and digital business models.     

Internationalization of retailing operations

International retail operations may be defined as the operation, by a firm or alliance, of shops, or other forms of retail distribution, in more than one country. Such operations have an extensive history. Motives for retailers to operate internationally are considered. Theoretical explanations have not been well developed but a potentially useful framework exists with the transaction cost paradigm. International operations may be achieved within several different organizational structures with some firms adopting different approaches for different markets. The empirical evidence of international retail activity lacks a sound survey base but some tentative generalities are drawn.     

The differential effects of time and usage on the brand premiums of automobiles

We investigate how the status and functional benefits of cars’ brands lose value over time. Theoretically, we show that brands with a higher status, or that appeal to status-conscious consumers, exhibit steeper price decline over time. Empirically, we take advantage of the phenomenon of twin cars – pairs of car models that are nearly identical from a structural and mechanical standpoint, but that are sold under differing brand names – to disentangle the effects of physical wear and tear, which should impact both the premium brand and the corresponding standard brand similarly; and time-related price decline, which should affect each brand differently. The main result is that a premium car’s price declines much faster than that of the corresponding standard car (controlling for physical condition, mileage, and initial price). This result suggests that status declines faster than do functional attributes, and status seekers tend to replace their cars earlier.     

Need vs. opportunity recognition in household car replacements

It is hypothesized that an intention to replace the owned car initiated by need recognition (a decrease in perceived current quality level of the old car) or opportunity recognition (an increase in aspired quality level of the new car) will result in purchases of different new cars. A sample of 1083 car owners were interviewed over telephone every fourth month during 2.5 years. The results showed that replacement intentions were not affected by how the intention was formed but that the choice of model year of the new car was. A younger car was chosen if the aspired quality level increased faster across interview waves than the current quality level decreased, and an older car was chosen if the current quality level decreased faster than the aspired quality level increased. As a consequence, if replacement intentions are the result of opportunity recognition, rejuvenation of the car fleet will be faster than if replacement intentions are the result of need recognition.     

Using a hedonic price model to test prospect theory assertions: The asymmetrical and nonlinear effect of reliability on used car prices

This paper investigates prospect theory implications in used goods markets. In particular, it develops a hedonic price model that addresses the price structure of the used car market in the light of prospect theory. The proposed hedonic price model provides empirical evidence in support of prospect theory predictions for explaining used car prices after controlling for observed product differentiation. It is demonstrated that consumers are risk seeking when used car reliability is below the expected reference value and risk averse when used car reliability is above the expected reference value. The model also illustrates how car quality affects residual values and how buyers evaluate used cars.     

网络零售能撬动城乡居民消费吗？

形成强大的国内市场,构建新发展格局离不开发达的消费市场。各种形式的网络零售是数字经济时代销售供给的新形态,其是否以及如何影响城乡居民消费,关系到供给侧促消费的效果。文章在对网络零售影响居民消费的内在机理进行理论探讨的基础上,检验了网络零售的消费效应。研究发现：无论是城乡整体、城镇居民还是农村居民,网络零售都显著促进了其消费水平的提高,虽然存在对线下消费的一定程度的挤出,但总体来说,网络零售的需求创造效应大于对线下的需求转移效应。网络零售促进消费的机制在于扩大市场范围、降低交易成本和促进行业内竞争,上述结论在处理了内生性后仍然稳健。异质性检验表明,网络零售对农村居民消费的提升作用较城镇居民更为明显,对东部地区城乡整体消费的提升作用要高于中部和西部地区;城乡整体生存型消费受网络零售的正向影响低于享受型和发展型消费,城镇居民在生存型和发展型消费方面更依赖于网络零售,农村居民对享受型消费的网络零售依赖度更高。     

“急”功近“利”的吉利汽车

<正>吉利,出身草莽,却有鸿鹄之志。野心勃勃,能否傲视群雄?当世界上大多数汽车制造商在危机中挣扎时,中国最大私有汽车厂商吉利的雄心壮志却令人吃惊。汽车行业所遭受的最严重的危机还未结束,吉利却在同时开发6个现代     

A comparison of the effect of retail purchase and direct marketing on the endowment effect

This article reports on a study comparing the effect of the retail and direct marketing channels of delivery on the endowment effect. The results demonstrated the endowment effect for both retail and direct marketing channels of product delivery. In addition, in the direct marketing channel, the endowment effect was strengthened by the physical, tangible possession of products at the point of product receipt compared to its virtual possession value at the point of purchase. In the retail channel of delivery, confirming consumer expectation with the possession of the product at the point of purchase resulted in the strengthening of the endowment effect compared to the unexpected out‐of‐stock retail situation. Contrary to expectations, the duration of the product possession did not affect product valuation. Managerial implications are discussed. © 2006 Wiley Periodicals, Inc.     

Measurement of Customer Perceptions of the Retail Bank Service Delivery System

The purpose of this research was to develop measures of concepts related to retail bank customers' perceptions of retail bank services delivery systems. The results of the research indicate four potentially important aspects of the retail bank services delivery system are (1) general bank personal service, (2) teller personal service, (3) reactton capacity , and (4) location convenience. The research results support the hypotheses that retail bank customers' perceptions of these issues may be related to customer satisfaction and intentions to do business with the bank in the future, intentions to purchase additional products and services, and intentions to give the bank a larger percentage of the customer's business.