• Title/Summary/Keyword: In-store retail

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Optimal Forecasting for Sales at Convenience Stores in Korea Using a Seasonal ARIMA-Intervention Model (계절형 ARIMA-Intervention 모형을 이용한 한국 편의점 최적 매출예측)

  • Jeong, Dong-Bin
    • Journal of Distribution Science
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    • v.14 no.11
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    • pp.83-90
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    • 2016
  • Purpose - During the last two years, convenient stores (CS) are emerging as one of the most fast-growing retail trades in Korea. The goal of this work is to forecast and to analyze sales at CS using ARIMA-Intervention model (IM) and exponential smoothing method (ESM), together with sales at supermarkets in South Korea. Considering that two retail trades above are homogeneous and comparable in size and purchasing items on off-line distribution channel, individual behavior and characteristic can be detected and also relative superiority of future growth can be forecasted. In particular, the rapid growth of sales at CS is regarded as an everlasting external event, or step intervention, so that IM with season variation can be examined. At the same time, Winters ESM can be investigated as an alternative to seasonal ARIMA-IM, on the assumption that the underlying series shows exponentially decreasing weights over time. In case of sales at supermarkets, the marked intervention could not be found over the underlying periods, so that only Winters ESM is considered. Research Design, Data, and Methodology - The dataset of this research is obtained from Korean Statistical Information Service (1/2010~7/2016) and Survey of Service Trend of Korea Statistics Administration. This work is exploited time series analyses such as IM, ESM and model-fitting statistics by using TSPLOT, TSMODEL, EXSMOOTH, ARIMA and MODELFIT procedures in SPSS 23.0. Results - By applying seasonal ARIMA-Intervention model to sales at CS, the steep and persisting increase can be expected over the next one year. On the other hand, we expect the rate of sales growth of supermarkets to be lagging and tied up constantly in the next 2016 year. Conclusions - Based on 2017 one-year sales forecasts for CS and supermarkets, we can yield the useful information for the development of CS and also for all retail trades. Future study is needed to analyze sales of popular items individually such as tobacco, banana milk, soju and so on and to get segmented results. Furthermore, we can expand sales forecasts to other retail trades such as department stores, hypermarkets, non-store retailing, so that comprehensive diagnostics can be delivered in the future.

Price Competition in Korean Retail Gasoline Market: Focusing on Spatial Effects (국내 주유소 시장의 휘발유 가격경쟁 분석: 공간 효과를 중심으로)

  • Kim, Hyung-Gun
    • Journal of Distribution Science
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    • v.16 no.4
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    • pp.83-88
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    • 2018
  • Purpose - This study conducts an empirical analysis on gasoline pricing of Korean retail gas stations focusing on spatial effects. Unlike previous studies, the study uses an official land price for a proxy of the importance of location, and also allows the spatial effects from other competing gas stations as well. Research design, data, and methodology - In collection of data, we obtain more abundant data than those of previous studies. The gasoline prices used in the study are 909,084 observations as daily data from January 1 to July 31 of the year 2016. A proxy for the land price is collected by linking official public land price data with address information on each gas station. For the estimation, the study employs the Panel Spatial Dubin Model to make the best use of the collected location information. Results - As expected, spatial properties of gas stations have significant effects on the gasoline price. As the price per square meter increases by 100 thousands won, the price of gasoline rises 9 won per liter. Among other characteristics, the price increases by 16 won per liter if the station has a convenience store, and about 5 won if it has a car wash service. Gasoline price in Singapore accounted for 26% of variations in domestic gasoline prices. SK Energy and GS Caltex are the top brands in terms of price. The study also finds prices and other important properties of competing gas stations have significant effects on others' prices. Prices of competing gas station have a positive relationship with those of others. If a competing gas station raises the price, the gas station also raises the price, and lowering the price lower the price. Among brands, GS Caltex has the greatest downward pressure on nearby gas stations. Conclusions - The study confirms that location value of gas stations affect their gasoline prices, and the prices of the competing gas stations also have a significant effects on their prices. It suggests that the prices in the competing retail areas tend to be synchronized with each other.

Unmanned Store, Retailtech and Digital Divide in South Korea

  • KWAK, Young-Arm;CHO, Young-Sang
    • Journal of Distribution Science
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    • v.17 no.9
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    • pp.47-56
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    • 2019
  • Purpose - A work way of 'face to face' or a work way of 'unmanned' is very meaningful trend in contrast of robot as a worker. This paper explored some cases of unmanned terminal and kiosk which has been quickly adopted to fastfood industry in South Korea and researched whether any inconvenience or trouble exists in the level of 'the poor' and 'the aged' or not at the time of 'touching' screen in unmanned store. Research design, data, and methodology -The authors examined a few previous studies in keywords of AmazonGo, kiosk, digital divide, information gap, deregulation, and analyzed some cases of 'unmanned terminal' defines restrictively as all kinds of unmanned device, terminal and equipment including kiosk regardless of any place and type. Results - Promotion strategy of the unhandy and retailers needs to offer 'expansion of education and learning', readiness for the law aspect, reform of kiosk industry and priority of sufficient budge and politic assistance by government side. Conclusions - This paper presented some strategies of eliminating 'digital divide' both for a 'the poor', 'the aged', and for a retailer, so that the former may easily purchase goods on unmanned terminal, and the latter may easily sell the more goods at unmanned store.

A Study on the Variation Process of Commercial Gentrification Phase in Residential Area in Seoul - Focused on Business Type of Commercial Characteristics - (서울시 주거지역 내 상업 젠트리피케이션의 단계별 변이과정 분석 연구 - 상업 업종의 변화를 중심으로 -)

  • Ryu, Hwa-Yeon;Park, Jin-a
    • Journal of Korea Planning Association
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    • v.54 no.1
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    • pp.40-51
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    • 2019
  • The ultimate aim of this study is to diagnose the process stage and look at the step change of transition process to see how the step changes. Therefore, in this study, cluster analysis was conducted by examining four types of commercial characteristics such as Retail Homogeneity, Share of Neighbourhood store, Share of chain store, and Share of cafe & Western food store. Through the cluster analysis, three types have been identified. Type1 is the first step which can explain the time before gentrification occurs and when the ratio of neighborhood facilities is the highest. Type2 is the second step that can explain boutique stage where the gentrification occurs. At this time, the ratio of Cafes & Western food restaurant increased and the proportion of neighborhood shops decreased. And Type3, third step is when the mature gentrification occurs. In the analysis of the transition period, it is necessary to monitor the change of the industry in the period from the first stage to the second stage. In the transition period from the second stage to the third stage, It is necessary to constantly monitor such factors as the increase of shops.

Job competencies required for a sales training program in fashion shop (패션제품 판매 훈련교육 프로그램을 위한 직무역량 연구)

  • Kim, Jie Yurn
    • The Research Journal of the Costume Culture
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    • v.29 no.6
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    • pp.865-880
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    • 2021
  • The purpose of this study was to examine job competencies for sales training program development to maximize profits in fashion retailing. An empirical online survey was conducted from September to December 2019, and data was collected from 200 salespeople and store managers working in fashion stores. Results were analyzed using frequency analysis, factor analysis, variance analysis, and regression analysis with SPSS 25.0. The major findings of this study were as follows. First, the most important job competencies identified by fashion store managers were: sales sense know-how, customer service skills, and sales person's fashion style sense, product knowledge, fashion marketing and customer management. The job competency factors for sales training programs included empathy with the customer, product knowledge, communications and networking, basic job requirement, and sales skills. These five factors positively influenced the employment intentions and expectations of work performance of graduates. These factors also had a positive influence on the need of sales training program and intention to participate in retraining. Store managers in fashion retail thought the most appropriate period for on-the-job training was either 2-4 days or more than 1 week. The results of this study can be used as a base to develop training programs for job efficiency for salespeople in fashion retailing.

Effect of Atmospheric Music and Advertising Photo on Consumers' Emotional State and Approach Behavior in Fashion Store (패션점포 내 배경음악과 광고사진이 소비자의 정서 및 접근행동에 미치는 영향)

  • Ki, Hyun-Myoung;Lee, Yu-Ri
    • Journal of Global Scholars of Marketing Science
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    • v.16 no.3
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    • pp.39-60
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    • 2006
  • The purpose of this study is to investigate the effect of two different characteristics of music(tempo) and advertising photograph(type) in a fashion store on consumers' emotional responses and approach behavior and to suggest competitive in-store atmospheric strategies. To test the conceptual model, this study used a video simulation method. Researchers selected a fashion casual wear retail store for young people and videotaped to provide realistic store settings. Two different levels of background music(fast, slow) and advertising photograph(sexy, cheerful) were inserted into the video clip generating four stimuli. Including a stimulus for the control group, 5 video clips were created. A total of 289 subjects answered the questionnaire after viewing a two-minute video clips. The results are as follows: First, advertising photograph in a store had a significant effect on consumers' in-store emotional state, whereas musical tempo did not. Second, the effect of in-store consumers' emotional state on behavioral reponses were investigated. Results showed that consumers' positive emotional state lead to consumers' approach behavior. The results of this study indicated that background music and advertising photograph in a fashion store affected consumers' in-store emotional state, and ultimately these affected consumers' positive approach behavior. Thus retailer should try to create a pleasant store environment using effective store atmospheric factors like background music and advertising photograph.

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The effects of store image components on consumers purchasing retailer brands in Korea

  • Chung, Lak-Chae;Cho, Young-Sang
    • Journal of Distribution Science
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    • v.9 no.4
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    • pp.15-27
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    • 2011
  • Although a huge number of academic researchers have paid considerable attention to exploring both the degree to which store image influences retailer brand customers and how to develop store personality, they have overlooked the contemporary retail context in which retailers have developed many different types of retailer brands, that is, price-oriented or quality-oriented retailer brands. Rather than focusing on the latter, much literature has looked at the former. Accordingly, even though there are many articles related to store image, a few authors have shown their interest in identifying the extent to which store personality affects customers purchasing retailer brands at lower prices. As a result, their efforts have been to illustrate the relationship between store image and consumer behaviours buying retailer brands. In that multiple retailers over the world such as E-Mart, Lotte-Mart, Tesco Korea and Tesco UK have actively introduced not only the quality-focused retailer brands that quality is better than, or equal to national brands, and prices are slightly higher than, or equal to them, but also price-focused retailer brands, academicians should make an effort to investigate how store image affects customers purchasing a quality-oriented retailer brand, comparing with previous research results. That is why the authors illustrate the extent to which store personality components influence retailer brand customers, including particularly quality-oriented retailer brand customers through an empirical research. By adopting a questionnaire method as a research technique to illuminate the relationship between store image components and retailer brand customers, research validity increases and further, data gathered through a field survey are analysed through a few statistic analysis methods, in order to minimise statistical deviations. Compared with the prior research concentrated on price-focused retailer brands, the authors have significantly shed light on customer behaviours purchasing retailer brand products with higher quality. When it comes to store personality components, the research suggests the following five items: merchandise attributes, services, physical facilities, promotions, and institutional image, considering the subcomponents mentioned by the previous research. Proposing the conceptual research model which those elements are differently hypothesised, according to retailer brand types: PR (Price-oriented Retailer brand) and QR (Quality-oriented Retailer brand), the research is proceeded. Through empirical research, the authors found that amongst the five items, only promotion influenced retailer brand customers in the Korean retailing marketplace, unlike other countries explored by many researchers, such as UK. Although much literature emphasises that those elements are closely related to retailer brand buying proneness, it is completely not fit to the Korean market. Also, research findings provide new insights into the degree of store image effects on retailer brand customers for academiciansand practitioners. Whether the retailer brand development program that a retailer has carried simultaneously both price-focused and quality-focused retailer brand types is practically profitable should be explored in the future.

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The Effects of the Transaction Character Factors between Buyer-Supplier on Relational Bond in Dongdaemoon Fashion Market -From the Perspective of Region Retailer- (동대문 패션시장의 구매자-공급자 간의 거래특성이 관계결속에 미치는 영향 -지역 패션 소매업체의 관점에서-)

  • Chung, Myung-Sun;Ju, Seong-Rae
    • Journal of the Korean Society of Clothing and Textiles
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    • v.35 no.8
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    • pp.906-917
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    • 2011
  • This study identified the present state of store and selection criteria of supplier from the regional fashion buyer point of view and examined the effects of the factors of relative impact between buyer and supplier on the relational bond. The interviews and questionnaires were administered to the owners or the sellers of 85 fashion retail stores in Gwangju. For analysis of data, frequency, means, factor analysis, Cronbach's ${\alpha}$ and regression analysis were applied. The results were as follows. First, in the results of examining the actual conditions of store managers for fashion buyers, fashion buyers complained about lengthy travelling and time consumption inconvenience. They also reported decrease in margin and monthly mean sales over last year. Second, the most important selection the criteria for the supplier were product power, followed by a convenient store layout. Finally, higher quality communication, more compromises, and higher dependence were affected with higher satisfaction, trust, and commitment in suppliers; conversely, the trust and commitment of the buyers decreased relative to the increased power of the suppliers.

A Study of Consumers' Responses to the Attributes of Salespeople in Fashion Retail Stores (패션매장에서 판매원의 특성에 대한 소비자 반응 연구)

  • Seo, Min Jeong;Jun, Daegeun
    • Fashion & Textile Research Journal
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    • v.20 no.5
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    • pp.509-519
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    • 2018
  • This study is to examine the effects of salespeople' attributes (i.e., empathy, availability, professional appearance) on consumer cognition, emotion, and behavior. A conceptual model was developed based on stimulus-organism-response (S-O-R) theory and cognition-emotion theory. A total of 542 questionnaires were collected online and some incompletely written questionnaires were excluded. Because of the high possibility of memory distortion, only the questionnaires (n=220) written by those who visited fashion stores within one week were used for the final analysis. The results of PLS analyses demonstrated that 1) salespeople's empathy directly affected consumers' shopping emotion; 2) salespeople's availability and professional appearance indirectly affected consumer's shopping emotion through store image; 3) consumers' shopping emotion positively affected purchase intention. Theoretical and practical implications of the results are discussed in conclusion. As a result of this research, the main characteristics of the salespeople were identified in order to allow the consumers visiting the fashion store to buy the fashion products naturally and the basic directions of sales manuals for the salespeople in the fashion store were presented. It is also hoped that academic researchers will be able to use the characteristics of salespeople as the main data to understand how they affect consumers' cognitive and emotional responses and how they are connected to purchase behavior.

The Effect of Pop-up Store Characteristics on Purchasing Behavior of MZ Generation Consumers

  • Gyu-Ri KIM;Seong-Soo CHA
    • Journal of Wellbeing Management and Applied Psychology
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    • v.7 no.2
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    • pp.31-37
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    • 2024
  • Purpose: Pop-up stores have emerged in the retail industry in recent years, offering consumers a new shopping experience for a limited time and location, and are used for a variety of purposes, including driving purchase behavior. In particular, they have become an important marketing tool among Gen MZ consumers who are quick to acquire information and sensitive to trends. Therefore, this study aims to analyze the impact of pop-up store characteristics on the purchasing behavior of MZ consumers. Research design, data and methodology: Based on a qualitative research approach, the study analyzed successful pop-up stores in Korea to closely examine how the limited operating period and experience-oriented marketing strategy of pop-up stores affect the perceptual attitudes and purchase decision process of Generation MZ. Results: The results of the case study revealed that selling limited edition items, maximizing customer experience factors, and differentiated concepts are the main factors that positively influence the purchase behavior of Gen MZ consumers. These factors contribute to the enhanced purchasing behavior of Gen MZ, making pop-up stores an effective marketing strategy. Conclusions: Pop-up stores are more than just a sales space, but an important communication channel that can strengthen the emotional connection with Gen MZ and effectively communicate brand values. This study provides useful insights for brands and companies to develop marketing strategies for MZ.