• Archives of design research
• /
• v.21
• /
• pp.67-74
• /
• 1997

Marketing communication is becoming a critical element in today's competive retail environment. Consumers are better educated and discriminating in their choices. Especially, now in the totally opened Korean market situation, establishing proper retail marketing strategy faces many challenge and require special attention. In this study, various promotion media application strategies are mentioned in order to help retailers who need to develop their own promotion plan. Among the media mix, xisual merchandising is becoming effective communication system for retail promotion. Because of its complex development process, retailers and professionals both need to understand the theoretical background of VMD and application method. As a guide in developing systems for each use, it might have some limitations due to the method of research and data related to researcher's choice. In spite of above mentioned limitations, this study will serve as a practical guide for the retailers who wishes to achieve marketing goals in order to survive in this competitive retail situation.

• Journal of the Korean Society of Clothing and Textiles
• /
• v.32 no.8
• /
• pp.1233-1243
• /
• 2008

This study examined return policies of the Korean retailers and their differences by retail format. Return policies of 363 retailers including dept stores, discount stores, brand consignment stores, small shops, outlet stores, TV home shopping companies, and internet shopping malls were collected. Acceptance of refund or/and exchange, return grace period, and return requirements or restrictions of each retailer were analyzed. The results showed that most retail formats except small shops and internet shopping malls allowed refund. The seven day return grace period was most common though large retail chains allowed more generous time frames and small shops allowed shorter dates. Restrictions for return varied by retailers and retail formats. Generally retailers followed the guidelines of consumer protection laws. The study discussed implications of return policy analysis.

• Industrial Engineering and Management Systems
• /
• v.14 no.2
• /
• pp.196-209
• /
• 2015

Retail sales forecast is a special area of forecasting. Its unique characteristics call for unique data models and treatment, and unique forecasting processes. In this paper, we will address lessons learned and challenges encountered in retail sales forecast from a practical and technical perspective. In particular, starting with the data models of retail sales data, we proceed to address issues existing in estimating and processing each component in the data model. We will discuss how to estimate the multi-seasonal cycles in retail sales data, and the limitations of the existing methodologies. In addition, we will talk about the distinction between business events and forecast events, the methodologies used in event detection and event effect estimation, and the difficulties in compound event detection and effect estimation. For each of the issues and challenges, we will present our solution strategy. Some of the solution strategies can be generalized and could be helpful in solving similar forecast problems in different areas.

• Journal of Information Processing Systems
• /
• v.18 no.4
• /
• pp.480-488
• /
• 2022

Images of tobacco retail licenses have complex unstructured characteristics, which is an urgent technical problem in the robot process automation of tobacco marketing. In this paper, a novel recognition approach using a double attention mechanism is presented to realize the automatic recognition and information extraction from such images. First, we utilized a DenseNet network to extract the license information from the input tobacco retail license data. Second, bi-directional long short-term memory was used for coding and decoding using a continuous decoder integrating dual attention to realize the recognition and information extraction of tobacco retail license images without segmentation. Finally, several performance experiments were conducted using a largescale dataset of tobacco retail licenses. The experimental results show that the proposed approach achieves a correction accuracy of 98.36% on the ZY-LQ dataset, outperforming most existing methods.

• The Journal of Asian Finance, Economics and Business
• /
• v.7 no.12
• /
• pp.853-861
• /
• 2020

The study aims to measure the productivity of the Saudi banking sector at the retail level using secondary data for 11 local banks from the period 2015-2019. The study uses an extended version of the Cobb-Douglas production function to account for the fact that as banks openup more retail branches, they will need to employ more labor. The extended Cobb-Douglas production function was estimated using the two-way fixed effect model to account for unobserved heterogeneity across Saudi banks resulting from differences in labor competencies and leadership style. Besides, the model accounts for unobserved heterogeneity among Saudi banks due to the advancement in electronic services over time. The results showed that labor, branches, customers' deposits, and fixed deposits have a positive effect on the total value of generated loans. Conversely, ATM has an insignificant effect on generated loans. The average scale elasticity shows that the Saudi banks at the retail level are operating under decreasing returns to scale. The average marginal rate of technical substitution shows that Saudi banks need at least one ATM to replace one unit of labor at the retail level while keeping the same level of output.

• Journal of Distribution Science
• /
• v.15 no.8
• /
• pp.5-14
• /
• 2017

Purpose - This study empirically analyses the sale changes in large retail stores directly resulting from increased controls on those stores. More specifically, we discuss the economic impacts on Korean regulations that restrict trading hours and mandate statutory store closure 'holidays' twice per month. Research design, data and methodology - we attempt to empirically analyse the economic effects of trading hours regulations through quantitative analysis of the sales revenue data of large retail stores. We introduce the data and methods of empirical analysis used to analyse the economic effects of trading-hour regulations on large retail stores. We use a panel regression to analyse the sales losses of large retail stores caused by the new constraints on business hours. Results - The results of this study show that the sales of large retail stores fell by the average of 3.4% per month during the regulation periods. However, regulations affecting large retail stores have various economic impacts, including variations in sales, changes in consumption patterns, and influences on consumer welfare and national economy. Conclusions - Such changes may also be captured by other metrics: accordingly, further researches are needed to measure the impact of regulations on economic indicators such as employment and GDP.

• Korean Institute of Interior Design Journal
• /
• v.16 no.2 s.61
• /
• pp.201-208
• /
• 2007

The $21^{st}$ century is the age of sentiment and image. As industrial development pushes the demands of consumers for various goods, the marketing patterns of these goods have individualized. They are expressions embedded with various meanings. Retail shops, now going beyond the practical purpose of display and sales of goods, enhancing brand images and establishing a consumer-oriented strategy, play a key role in reacting to and creating overall cultural issues. This study will analyze and investigate the Prada retail shop, which has distinguished its brand image and effectively promoted its identity through a sustained management strategy. The Prada retail shop has established an image of a cultural icon through cultural marketing. It suggests individuality and creativity along with diversity It reflects the basic concepts of cultural marketing, freedom of expression combined with information and high technology. The Prada building symbolizes the brand itself. To foster these kinds of retail shops, data and information based on continuous studies must be provided and shared, and also the systematic reinterpretation and the effective presentation of expressive trends in interior design needs to be studied on an ongoing basis.

• Journal of Distribution Science
• /
• v.16 no.5
• /
• pp.31-43
• /
• 2018

Purpose - We examine how a Korean retail firm's social responsibility is related to its financial performances. The traditional view of corporation expects a negative relationship, while the stakeholder theory expects a positive one. Research design, data, and methodology - We adopt the ESG score, published by Korean Corporate Governance Service to measure the level of socially responsible activity for the Korean retail firms. The ordinary least square method is adopted to investigate this relationship. The publicly traded retail firms are examined from 2011 to 2016. Results - We find that the total ESG score is negatively related to ROE but shows no statistically significant relationship with ROA and Tobin's Q value. However, a firm's environmental score is negatively related with both of ROE and ROA. Its social score is no conclusive relationship with the performance measures. The governance score is negatively related to the value of Tobin's Q. Conclusions - This paper generally supports the traditional view of corporate theory, especially in terms of ROE. This evidence is not well aligned with the existing study for Korean corporations generally documenting positive relationships. We find almost no empirical evidence supporting the stakeholder theory of corporation in the Korean retail industry.

• Journal of architectural history
• /
• v.26 no.3
• /
• pp.31-38
• /
• 2017

The retail store, which appears in various ways of the modern city, is the architectural result that the merchandise is finally delivered to consumers. The relationship between the commerce based on manufacturing and distribution and the retail store as urban architecture can be understood not only from the viewpoint of economics and business administration but also the problem of the formation of urban history and urban organization. The modern industrial development in Korea had been progressed by the state led, as the manufacturing and distribution developed in turn. This social and economic situation influenced the formation of the retail store of the city. This is different from the West, which the development has been conducted together. The cosmetics sales space, which is the subject of this study, has changed in various forms from the 1960s to the 1990s. Cosmetics brand retail shop is a corporate brand-based space, but paradoxically, it has a historical characteristic of urban architecture in that it is branding city street. This specificity of Seoul is unexplained by the development process of the Western and does not exist as a physically huge or special construction sometimes. However, it operates as a urban architecture in Seoul where the complicated.

• The Journal of Asian Finance, Economics and Business
• /
• v.7 no.7
• /
• pp.95-104
• /
• 2020

This study examines the effect of fintech on retail banks stock return listed in Indonesia Stock Exchange for the period of 2016-2018 as today's new technology lead to the emergence of fintech companies playing the same role as retail banks in the financial industry. This study is conducted quantitatively using monthly data from January 2016 to October 2018 and uses fintech as independent variable, proxied by fintech funding frequency and fintech funding value. Data transformation is conducted due to data volatility. The data of fintech funding, both frequency and value, is transformed into standardized fintech funding and growth of fintech funding. The data is obtained from Crunchbase, while the data of stock returns is obtained from Investing. This study further analyzes the data using Fama French Three-Factor Model and panel data regression. We found that fintech has no significant effect on retail banks' stock returns listed in Indonesia Stock Exchange for the period of 2016-2018. The findings of the study provide some useful insights in understanding fintech companies' current position to retail banks in Indonesia. This study also suggests banking institutions, fintech companies, policy-makers, and others to take advantageous steps in building inclusive financial sectors.