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Article
Publication date: 1 September 1996

Corinne Yap

Singapore’s retail landscape has undergone much change since the 1960s as a result of its economic growth and social change. Fuelling the transformation is the Urban…

Abstract

Singapore’s retail landscape has undergone much change since the 1960s as a result of its economic growth and social change. Fuelling the transformation is the Urban Renewal Authority (URA) whose policies have resulted in modern one‐stop shopping centres. Today’s retail market is highly cosmopolitan, complex and sophisticated with nearly every international brand and retailer found there. However, the retail market has been tough in the last few years owing to problems such as an oversupply of retail space, high labour costs and a tight labour market. Describes strategies adopted by retailers and developers to combat the problems in the industry. Among the strategies adopted by retailers are niche marketing and regionalization. They have also forged strategic alliances with other larger retailers. Developers, on the other hand, have recognized the need to find the right tenant mix as opposed to just securing the highest rents. Less competitive shopping centres have also considered converting their retail space to more sought‐after office space. The government continues to steer Singapore’s urban development with its policies. The URA’s long‐range vision is presented in its concept plan. The broad policies of the concept plan have been translated into detailed development guide plans for specific areas.

Details

International Journal of Retail & Distribution Management, vol. 24 no. 8
Type: Research Article
ISSN: 0959-0552

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Article
Publication date: 13 March 2007

David Skinner

This report aims to examine the sectoral composition of Europe's real estate investment market, the factors likely to drive a shift in portfolio composition away from the…

Abstract

Purpose

This report aims to examine the sectoral composition of Europe's real estate investment market, the factors likely to drive a shift in portfolio composition away from the office sector and toward retail, and how this will likely occur.

Design/methodology/approach

The article examines the sectoral breakdown of Europe's real estate market and describes the shift in the UK's sectoral breakdown over the past two decades. Economic convergence in Europe, the increasing number of third‐party fund managers offering access to the performance of retail assets, the historically superior risk‐adjusted returns of retail in mainland Europe are noted as factors that will drive the shift. Eight mechanisms that could help achieve the shift are described.

Findings

Many investors in European real estate are modifying strategy to capitalise on the expected outperformance of the office sector over the short to medium term. However, as the office rental recovery matures and the potential for outperformance diminishes, a substantial, long‐term increase in the portfolio weightings of retail and other property types will likely occur in mainland Europe. Improved asset and fund management infrastructure has made retail assets more accessible to investors. Retail has tended to outperform offices over fairly long time horizons and will likely continue to provide superior risk‐adjusted returns.

Originality/value

Many investors in European real estate have recently been making tactical allocation decisions to benefit from the potential upside offered by offices. This analysis suggests that at a strategic level, investors in mainland European real estate should diversify away from offices (now about half of investors' portfolios) by raising allocations to other sectors.

Details

Journal of Property Investment & Finance, vol. 25 no. 2
Type: Research Article
ISSN: 1463-578X

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Article
Publication date: 6 November 2009

Louis H. Amato and Christie H. Amato

The purpose of this paper is to examine the relationship between manufacturer profit rate and large retailer market share for five matched retailer‐manufacturer groupings.

Abstract

Purpose

The purpose of this paper is to examine the relationship between manufacturer profit rate and large retailer market share for five matched retailer‐manufacturer groupings.

Design/methodology/approach

Basic structure‐performance modeling is used to relate manufacturer return on assets to large retail market share and a group of control variables. Internal Revenue Service (IRS) Corporate Statistics of Income size class data provide a sample that covers the full range of firm sizes from the smallest to largest firms in the USA.

Findings

Large retail share negatively impacts small manufacturer rate of return for shopping goods, while in convenience good markets large retail share has no impact on manufacturer return.

Practical implications

Shopping goods retailers have opportunities to gain market power from expertise in merchandising, sales assistance, and product expertise. Strong private brands may offer leverage for convenience good retailers in negotiations with national brand manufacturers.

Originality/value

The paper examines the impact of retail channel power on small, medium, and large size manufacturing firms in five retailer/manufacturer categories over a period of extensive change in retail concentration.

Details

International Journal of Retail & Distribution Management, vol. 37 no. 12
Type: Research Article
ISSN: 0959-0552

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Article
Publication date: 30 August 2013

Christian Fuentes and Johan Hagberg

The purpose of this paper is to contribute to the on‐going cultural turn in retail marketing by offering an overview of the interdisciplinary field of socio‐cultural…

Abstract

Purpose

The purpose of this paper is to contribute to the on‐going cultural turn in retail marketing by offering an overview of the interdisciplinary field of socio‐cultural retailing and discussing how this body of work can contribute conceptually, methodologically and substantively to the field of retail marketing.

Design/methodology/approach

This paper is based on a literature review of socio‐cultural retail studies in marketing, cultural geography, sociology, and anthropology. The literature is analysed in relation to the substantive, conceptual and methodological domains of retail marketing.

Findings

Drawing on the literature review, the authors argue that socio‐cultural retail studies can contribute to the field of retail marketing substantively, conceptually and methodologically, thus broadening its current scope and domains.

Originality/value

This paper provides an overview of an interdisciplinary field and identifies how it can contribute to the field of retail marketing. It is valuable for retailing researchers interested in socio‐cultural approaches to the study of contemporary retailing.

Details

International Journal of Quality and Service Sciences, vol. 5 no. 3
Type: Research Article
ISSN: 1756-669X

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Article
Publication date: 24 April 2009

Constanza Bianchi

Research on international retailing has generally emanated from Europe and North America. Nonetheless, retailers from emerging countries can also be important players in…

Abstract

Purpose

Research on international retailing has generally emanated from Europe and North America. Nonetheless, retailers from emerging countries can also be important players in regional markets. The purpose of this paper is to explore how retailers from emerging markets can become strong enough to compete internationally.

Design/methodology/approach

The study examines a longitudinal case study of the internationalisation process of Falabella, a Chilean retailer that has recently become an important player in the Latin America retail industry. Drawing on 32 interviews with company managers, as well as industry data and corporate reports, this paper provides insights into the successful internationalisation process of a retailer from an emerging country.

Findings

The paper offers insights into emerging market internationalisation. In particular, these findings suggest that specific capabilities and resources, such as local and regional partnerships, organisational learning, innovation orientation, adaptation to the local markets, and an experienced management team, are required for emerging market retailers to internationalise and improve their likelihood of success in foreign markets.

Research limitations/implications

This paper explores an underdeveloped topic through the analysis of a longitudinal case study. Thus, it is necessary to further expand this line of research and investigate other emerging market retailers.

Practical implications

This study raises a number of important issues for emerging market retail managers that are reluctant to expand abroad and compete with large multinationals from developed markets, or that are struggling with their actual internationalisation process.

Originality/value

To date, the retail internationalisation literature has focused on the international experiences of firms from developed nations. However, there is a gap in the literature as to how retailers from emerging countries can become strong enough to compete internationally.

Details

International Marketing Review, vol. 26 no. 2
Type: Research Article
ISSN: 0265-1335

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Article
Publication date: 1 February 1988

Paul D. Clarke, Edward P.M. Gardener, Paul Feeney and Phil Molyneux

The British retail banking market has changed markedly since the beginning of the 1970s, and important trends and developments have increased the competitive pressures…

Abstract

The British retail banking market has changed markedly since the beginning of the 1970s, and important trends and developments have increased the competitive pressures facing banks. The whole nature of competition in British retail banking has altered. New competitors and new forms of competition have appeared with increasing rapidity. These changes and the associated pressures on banks have intensified during the 1980s. At the same time, banks have increased the comparative importance of retail banking within their strategies. These pressures and their associated implications for British retail banking strategy are explored. It is emphasised that marketing will need increasingly to dominate bank strategies in retail banking. This orientation towards marketing has important strategic and managerial consequences for banks.

Details

International Journal of Bank Marketing, vol. 6 no. 2
Type: Research Article
ISSN: 0265-2323

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Article
Publication date: 9 March 2015

Ana Paula Miotto and Juracy Gomes Parente

The purpose of this paper is to develop a taxonomy to describe and synthesize the retail strategies and store formats in the fast-changing modernization context of…

Abstract

Purpose

The purpose of this paper is to develop a taxonomy to describe and synthesize the retail strategies and store formats in the fast-changing modernization context of emerging markets. It identifies how these different formats are related to the existing literature about retail evolution. The paper proposes analogies between the empirical findings and the Big Middle Theory model developed by Levy et al. (2005).

Design/methodology/approach

Structured observations and personal interviews were conducted with managers/owners of 108 apparel stores located in three unplanned shopping districts in São Paulo, Brazil. Cluster analysis was used to derive the store formats.

Findings

The results identify four store formats – old fashioned, price focused, specialized, and consolidated – reflecting diverse marketing strategies and different stages in the retailing modernization cycle. There is a striking resemblance between these empirically derived formats and the four types of retail segments (Big Middle, Low price, Innovative, and in Trouble) proposed by the Big Middle model.

Research limitations/implications

There are limitations due to the exploratory nature of the research: the specific context (São Paulo, apparel retail sector) where the empirical data was collected restricts the generalization of the results to other situations; lack of precision in the appraisal of the variables might limit the research replicability. Nevertheless, this research contributes to expanding the scarce knowledge about the retailing phenomenon in emerging markets. An extension of the Big Middle model is suggested to depict the existing retail formats in emerging markets, offering therefore a theoretical contribution to the retail literature.

Practical implications

The study provides retailers with a framework against which to map their format, competitive strategy, and stages of the modernization cycle, enabling them to better adjust the configuration of their marketing mix variables. It also offers a classification scheme of stores formats which will help to describe the apparel retailing industry in emerging markets.

Social implications

Public policies are suggested to technically assist the modernization process and survival of more vulnerable retail formats.

Originality/value

Considering the fast-growing economic importance of the new “low-middle class” of emerging markets, and also the relevance of apparel retailing, this research is relevant and unique because it helps to bridge a gap in the limited literature and knowledge in this area.

Details

International Journal of Retail & Distribution Management, vol. 43 no. 3
Type: Research Article
ISSN: 0959-0552

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Article
Publication date: 23 November 2010

Kim Hiang Liow

The purpose of this paper is to examine whether there is a systematic real estate risk factor in retail firms' common stock returns and whether this risk is priced in the…

Abstract

Purpose

The purpose of this paper is to examine whether there is a systematic real estate risk factor in retail firms' common stock returns and whether this risk is priced in the stock market. In addition, whether the real estate risk sensitivities of retail stocks are linked to each firm's real estate intensity is investigated.

Design/methodology/approach

With a sample of 556 retail firms from 15 countries and a three‐index model with a domestic stock market and a retail market factor, as well as a real estate risk factor as the three explanatory variables, the paper appeals to the maximum likelihood methodology of Gibbons which estimates factor sensitivity coefficients and factor risk premia simultaneously using an iterative seemingly unrelated regression (ITSUR) technique, as well as the generalized method of moments (GMM) procedure. In addition, the paper investigates whether the individual retail firms' real estate βs are affected by the firms' CRER levels and other financial characteristics, using instrumental variables estimation technique via three‐stage least squares (3SLS).

Findings

The paper finds property market risks carry positive risk premia after controlling for sensitivities to general market and retail market risks, implying that real estate is an important factor priced in the stock market value of the sample retail firms. However, higher real estate concentration does not necessarily cause higher real estate exposure after controlling for firm size, leverage and growth, implying that stock market investors are unwilling or unable to understand and capture the full risk real estate ownership risk in corporate valuation.

Research limitations/implications

From the corporate management viewpoint, those retail firms with a significant real estate portfolio should always consider the “real estate exposure” factor in their overall corporate strategy. Their high real estate exposure renders them vulnerable to shocks in the real estate market.

Originality/value

The paper offers insights into whether real estate is an important factor in corporate valuation

Details

Journal of Corporate Real Estate, vol. 12 no. 4
Type: Research Article
ISSN: 1463-001X

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Article
Publication date: 13 March 2009

Stephen Wigley and Chu‐Ling Rachel Chiang

The purpose of this paper is to investigate the retail marketing strategies of one fashion retailer as they are applied in two national markets, and to identify means by…

Abstract

Purpose

The purpose of this paper is to investigate the retail marketing strategies of one fashion retailer as they are applied in two national markets, and to identify means by which international retailer success may be assured.

Design/methodology/approach

The paper is a qualitative case study.

Findings

To be a successful international fashion retailer, the ability to apply and adjust the retail marketing mix elements according to specific target‐market conditions and a wider global strategy is very important.

Practical implications

The paper indicates how an international fashion retailer may manipulate components of its marketing mix to be successful in diverse national markets.

Originality/value

The paper combines international retailing literature with retail marketing concepts to present findings of interest to commercial practitioners and offer opportunities for further research.

Details

International Journal of Retail & Distribution Management, vol. 37 no. 3
Type: Research Article
ISSN: 0959-0552

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Article
Publication date: 1 June 2004

Saeed Samiee, Leslie S.C. Yip and Sherriff T.K. Luk

The aim of this study is to highlight developments and opportunities in the retail and distribution sectors of China. In particular, we focus on the entry of international…

Abstract

The aim of this study is to highlight developments and opportunities in the retail and distribution sectors of China. In particular, we focus on the entry of international retailers into this rapidly growing market and classify various forms of retailing in China. The emerging Southeast Asian markets are still dependent on traditional and inefficient distribution and retailing systems. These markets are ripe for cultivation by international retailers whose advanced systems, processes, and management and marketing skills can bring added levels of efficiency and enhanced performance to these markets.

Details

International Marketing Review, vol. 21 no. 3
Type: Research Article
ISSN: 0265-1335

Keywords

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