What Moves Retail Property Returns at the Metropolitan Level?

In this article the determinants of metropolitan-level appraisal-based retail property returns are examined by estimating a six-equation model of retail construction starts, retail sales, stock-market returns, commercial mortgage rates, inflation, and the logarithm of stock-market volatility. Residuals from these equations are then used to explain actual movements in retail real estate returns. Our empirical procedure looks at both unadjusted and unsmoothed appraisal-based retail real estate returns. The general finding is that unsmoothed appraisal-based retail real estate returns lag significantly behind market conditions. Furthermore, the results suggest that very little of the variation in metropolitan-level appraisal-based retail real estate returns can be explained by macroeconomic news events

Lithuanian Retail Internationalization: Features and Prospects

Purpose of the article: To distinguish and describe Lithuanian retail internationalization of the peculiarities in the last twenty-four years and bases on the changes in the future. Methodology/methods: The retail internationalization literature explores the theories, concepts, experiences in different countries is the methodological basis for the assessment of the process and the prospect of these process changes in Lithuania. Lithuanian retail internationalization progress of the investigation from the beginning, development and future prospects is divided into three phases. From a methodological point of view, this is a difficult research because even after twenty years. Scientific aim: To analyse retail internationalization process in Lithuania – features and prospects. Findings: Investigate and evaluate three Lithuanian retail internationalization stages showed that each of them has distinct features. A survey of retailers allowed to set retail internationalization level in 2013. Conclusions: The retail trade internationalisation process in Lithuania, which started immediately after the destruction of the socialist economy and proceeded as the foundation for market economy was being laid, was particular in the sense that famous foreign retail trade companies did not immediately enter the Lithuanian retail market. The characteristic feature of the process in Lithuania was the establishment of joint capital companies, while individual foreign businessmen often started their business in the country by opening their first store. Research limitations: no interest of retailers to be in contact regarding research and wide theme was as serious limitations to find out and explore the Lithuanian retail internationalization features. This is the original article, exploring the small market of retail internationalization process characteristics from its beginning until 2014

A Simulation Analysis of the Relationship between Retail Sales and Shopping Center Rents

This article examines the variation in rents per square foot among regional shopping centers in the United States in response to variation in retail sales per square foot. The analysis breaks new ground by treating base and percentage rents as endogenous functions of retail sales. The analysis further distinguishes between de facto, if not de jure, fixed and percentage leases, and between new versus existing leases. Simulation results suggest that shopping center rents can easily increase in the short-run as retail sales decrease, or they can easily decrease as retail sales increase. In addition, the results suggest that shopping center rents per square foot generally react more aggressively to an increase in retail sales per square foot over time than to a decrease in retail sales per square foot, all else equal

Do business density and variety determine retail performance?

Outlet location plays a crucial role in retail strategy. In this paper we study the relationship between spatial density (concentration) of retailers in the trade area and their economic performance. This analysis will help managers figure out the economic potential of starting a retail business in a given area, reducing business start-up risks. We find that retail businesses located in high and low retail density zones enjoy higher performance levels, consistent with competitive advantage arising from agglomeration economies and local market power respectively. We also find that retail businesses located in intermediate density areas use a differentiation strategy based on business variety (diversification across stores). Outlets located in areas with the highest variety enjoy performance levels similar to those achieved in the agglomeration and low density areas. The results suggest that retail companies should jointly consider variety and density to determine location

Measuring Retail Service Quality in Nigerian Departmental Stores

The Nigerian economy is experiencing a boom in the retail sector of Departmental Stores.The sector is becoming increasingly competitive with the entry of foreign and multinational retail stores. Extant literature indicates that loyalty of the customers can be maintained with service quality. Consequently, the current study attempts to measure service quality among Nigerian departmental stores using Dabholkar, Thorpe & Renz (1996) Retail Service Quality Scale (RSQS) instrument to gauge customers’ satisfaction with the retail service quality in the Nigerian Retail sector. Four hundred and seventy eight customers of three major departmental stores in central Lagos, Nigeria were used for the study. Data generated was analyzed using factor analysis, correlation and hierarchical regression analysis to test the relationships of the ¿YH GLPHQVLRQV RI 5646 DQG FXVWRPHU VDWLVIDFWLRQn 7KH VWXG\ IRXQG 5646 WR EH D XVHIXO WRRO for evaluating retail service quality in retail sector of departmental stores. Physical dimension, UHOLDELOLW\, SHUVRQDO LQWHUDFWLRQ DQG SUREOHP VROYLQJ ZHUH DOVR IRXQG WR VLJQL¿FDQWO\ DIIHFW customers’ satisfaction, while policy was found not to have similar effect within the Nigerian environment

A Descriptive Analysis of the Retail Real Estate Markets at the Metropolitan Level

Gross Leasable Area (GLA) per capita is a commonly used measure to compare the retail market potential across different retail real estate markets. This study uses GLA per capita to assess the supply of the retail space across fifty-eight metropolitan areas in the United States. After a detailed descriptive analysis of the supply of retail space, we estimate GLA per capita for each metropolitan area using a modified version of the stock adjustment model. Initial findings indicate that the retail construction boom of the 1980s was not a boom at all and that GLA per capita can be predicted using a multi-factor model

Consumers Reactions to Tesco's market entry in Taiwan - a comparison with the UK experience

The purpose of this paper is to research consumer response to retail branding models in Taiwan by means of exploratory qualitative research comparing Tesco’s retail branding in the UK and Taiwan in order to find out the level of consumer acceptance of Tesco in Taiwan as a new market entrant. From the consumers’ viewpoint, Taiwanese Tesco’s retail corporate images, store positioning and retail branding process are not understood or clearly differentiated and identified by local consumers. This was a big problem for grocery shoppers and should therefore be considered as one of the key factors in Tesco`s withdrawal from the Taiwan market. It demonstrates the consumer acceptance issues even a strong retail brand faces transferring its brand to a new market with consumers unfamiliar with its retail brand proposition

« Retail Brand Equity: A PLS Approach

In large retail stores, France is characterized by market saturation and even a decline of several retail concepts such as variety stores, or even supermarkets and hypermarkets (Cliquet, 2000). This situation leads to a fierce competition and raises questions which affect marketing strategies of French retail companies. Given the legal context, the French retailers can increase sales through retail brands which appear to be henceforth among the most effective marketing tools. Indeed, product innovation, sophisticated packaging and retail brands - from generic products to premium retail brands (Kumar and Steenkamp, 2007) - could create consumer value. There are thus today real retail branding strategies consisting in creating consumer value leading to the idea of retail brand equity.This paper focuses on retail brand equity to understand where this retail brand value stems from and how to measure it in the French retail context. Adapting the brand equity literature to the retail brand opens large perspectives in the way of considering this type of brands helping managers to examine the importance of components in the shaping of their brand value and finally to develop better strategic and tactical decisions concerning retail brand positioning.Keller's contributions (Keller, 1993), qualitative methodology and confirmatory analysis are used to first conceptualise and measure a model of retail brand equity. All measures of the model built here are validated. The model is validated through a Path-PLS modelling process. This methodological choice is recommended when formative and reflective variables are integrated in the model (Jarvis et al., 2003). A replication is made to confirm the model validity.Retail brand equity is composed of two components: awareness, and retail brand image (which is measured by perceived quality, price image, personality, brand name and store service). All of these components influence positively and significantly the retail brand purchase (except the store service which influence negatively the retail brand purchase). Retail brand awareness and perceived quality are the two main components which determine the retail brand purchase. Results show also that the retail brand image is a partial mediator on the relation between retail brand awareness and its purchase. This research reveals finally that the retail brand equity can be moderated by the product category and the retail brand strategy. The retail brand equity is higher on basic products than on symbolic ones. The strategy of service brand applied to retail brands seems to be more favorable than classical private label strategy.retail brands, brand equity, retailers' strategies, confirmatory analysis, Path-

A business case for work-life balance in retail management.

Retail is one of New Zealand’s largest sectors, employing close to 200,000 people full-time, but with changes in competition and growth in the industry, the expectations of retail managers are increasing, along with their workload. This research looks at why work-life balance is unattainable for some retail managers. Looking wholly at the retail industry, not one specific organisation, the research aims to show the impacts on performance when work-life balance is not achieved and to provide strategies for businesses that encourage work-life balance in retail managers. Using both secondary and experiential research, this study highlights how poor work-life balance is directly linked to poor performance and what it is costing businesses that have no work-life balance initiatives in place. Provisional results show that work arrangements and lack of training are key reasons for work-life balance being difficult to maintain in retail management roles. The researcher shares two recommendations that will improve retail managers’ work-life balance; re-evaluating work arrangements to use rotational rostering and companies investing in the development of managers, through specific training available in New Zealand