• The Journal of Asian Finance, Economics and Business
• /
• v.7 no.11
• /
• pp.717-725
• /
• 2020

The purpose of this paper is to highlight the impact of the performance of private wealth management (PWM) on the growth of retail banking in Indonesia. The variables used are bank's competitiveness, risk management, performance of private wealth management, and growth of retail banking business. The data were collected from 60 respondents from 32 banks over five months, from October 2018 to March 2019. Using partial least square path modeling, the analysis shows that the performance of private wealth management has an impact on the growth of retail banking sector in Indonesia. Bank competitiveness and risk management affect the performance of personal wealth management and have an impact on the growth of the retail banking business. Bank competitiveness is the variable that most influences the performance of private wealth management in Indonesia. This research found that market share is the most significant indicator of bank competitiveness. For risk management, significant indicators are the level of bank confidence, increased bank competitiveness, and the creation of new products. In the performance of the private wealth management variable, the most significant indicator is the revenue fee-based income. For the growth of retail banking business, a clear indicator is profit growth.

• The Journal of Asian Finance, Economics and Business
• /
• v.8 no.4
• /
• pp.571-580
• /
• 2021

The study explores the factors affecting the brand selection behavior of retail chains in Vietnam and to what extent they have an impact on the customer's choice intention. This research employs a combination of both qualitative and quantitative mixed methods with the help of SPSS version 22.0 in data analysis. Expert interviews are used to design the questionnaire for the survey conducted on 700 consumers. Research results show that the eight factors of store image (1-to-3 split factor of store image including the display of goods and services), price perception, risk perception, brand attitude, brand awareness, and brand familiarity were determined. They all influence the intention to choose the retail chain brand. With a positive β coefficient, the more store image, price perception, brand attitude, and brand awareness are enhanced, the more likely the intention to choose the retail chain brand. The factor of risk perception has negative ��, resulting in an inverse impact on choosing a retail chain brand name. Price perception and risk perception have the strongest impact on retail chain decision behavior while commodity display factors the least. Based on these important results, the study proposes implications for retailers and manufacturers.

• Journal of Distribution Research
• /
• v.4 no.2
• /
• pp.93-115
• /
• 1999

The main purpose of this study is to develop a framework of knowledge management and knowledge management systems(KMS) for retail firms. The framework of knowledge management developed in this paper is based on six components: knowledge worker, KMS, leadership of CEO, knowledge management strategy, culture, evaluation and reward systems. The knowledge management process can be divided into four stages: preparation stage, initiation stage, expansion stage and completion stage. The major activities performed to implement effective knowledge management are also identified for each stage. The knowledge base of KMS for retail firms should store three types of knowledge: knowledge for management activity, knowledge for management activity, knowledge for strategic analysis, and knowledge for problem solving. Finally, the technical characteristics of KMS are also examined in terms of information technology.

• Journal of Distribution Research
• /
• v.7 no.2
• /
• pp.21-44
• /
• 2003

The entry of large discount stores into small cities such as Choonchun or Wonju have had a profound impacts on the businesses of small-sized retailers. The impacts of the entry by large discount store will be much larger than those of the entry by department store or other small-scale retailers. Most of research studies on the competitive retail structure focused on the change of retailing in the advanced countries dynamically and investigated macro-trends in sales and market share. As a result, they tend to overlook the micro aspects of consumers" perception and actual behaviors. Furthermore, they tend to limit their research scopes to relatively competitive retailers not to overall competitive structures. In this study, we analyze the overall competitive structures by investigating the retailers" characteristics, perceptions of consumers on retailers and actual purchase of products across different types of retailers We could obtain competitive retail structure. Based on that, we discuss the strategies on the revitalization and enhancement of small-sized retailers" productivities.

• Journal of Distribution Research
• /
• v.2 no.1
• /
• pp.9-34
• /
• 1997

The marketing environment around the Korean retail stores is becoming increasingly voltage due to the recent changes in the marketplace. These changes are not only offering business opportunities but also posing competitive threats for many retailers these days. The key to survival and growth of these retail stores lies in developing and delivering quality services. This article reports the findings of a field survey which measured customers current perceptions of six different types of stores in terms of various service dimensions. The store types examined in the study were: traditional markets, department stores, shopping centers$.$supermarkets, convenience stores, discount stores, and membership wholesale clubs. The study also makes an attempt to determine service dimensions which have significant impact on customer perceptions across different store types. By analyzing the gap between how stores are perceived and how they should be perceived, the article discusses and suggests strategic directions for each type of retail stores.

• Journal of Distribution Science
• /
• v.18 no.3
• /
• pp.87-97
• /
• 2020

Purpose: The aim of this study is to understand the internal and external responses that consumers experience when they are exposed to an innovative system in retail stores. This study considered the SST(Self-Service Technology) system in a retail setting as a type of functional environmental stimuli and selected a smart shopping cart as an example of SST system. The influences of functional environmental stimuli on consumers' emotional, cognitive, and behavioral responses were examined by applying S-O-R model. In addition, this study attempted to extend the traditional S-O-R model by (a) incorporating personal characteristics variables such as time pressure and perceived crowding and (b) considering not only emotional but also cognitive aspects of consumers' internal responses. Research Design, Data, and Methodology: This study used a video-scenario technique. Participants watched a video about grocery shopping situations using a smart shopping cart and responded to their emotional, cognitive, and behavioral responses. An online survey was conducted using Amazon's Mechanical Turk (N = 185). All participants were US consumers over 20 years old and had been shopping at the grocery store in the last month. Data were analyzed through structural equations modeling with AMOS 20. Results: Test results showed that consumers who perceived higher levels of time pressure and perceived crowding in usual shopping situations were more likely to evaluate the SST system favorably. The results showed that personal characteristics have a significant impact on consumers' evaluation of functional environmental stimuli in retail setting. As consumers evaluated the SST system favorably, they experienced more positive affect and less negative affect during their shopping behaviors. Positive affect led to good service quality inference, which further increased patronize intention. However, negative affect did not show a significant impact on service quality inference, but only on patronize intention. Conclusions: This study attempted to investigate the influence of SST system by extending the traditional S-O-R model. This study classified the SST system as functional environmental stimulus of retail stores and analyzed the effect of stimulus on consumers' internal and external responses. The results of this study showed that the introduction of innovative SST can serve as an effective store differentiation strategy in an increasingly competitive retail environment.

• Journal of Distribution Science
• /
• v.14 no.12
• /
• pp.129-139
• /
• 2016

Purpose - This paper examines the explanatory power of the agency theory in the determination of cash holdings for Korean retail firms. If the agency theory holds, a firm with strong corporate governance structure tends to have low cash holdings. A strong governance structure makes the CEO of this firm to behave in the interests of shareholders and thus the CEO has low incentive to stockpile cash holdings, which can be easily diverted for the CEO's own managerial purposes. We investigate this relationship between corporate governance structure and cash holdings, by using corporate governance scores as a proxy variable that captures the effectiveness of corporate governance mechanism. Research design, data, and methodology - We adopt the sample of publicly listed retail firms in KOSPI market from 2005 to 2013. Financial and accounting statements are gathered from the WISEfn database. We also use the corporate governance scores published by Korean Corporate Governance Service. The relationship between the corporate governance scores and cash holdings is cross-sectionally estimated based on the ordinary least square method. This estimation method is widely accepted in the existing literature. The sample of large conglomerates, Chebol, and the remainder firms are separately examined as well, to account for the distinctive internal financing environment in these large conglomerates. Results - We mainly contribute to the extant literature by providing empirical evidence against the agency theory of cash policy. Unlike the prediction of agency theory, we confirm statistically insignificant or even positive correlations between the set of corporate governance scores and cash-asset ratios. Almost all the major corporate governance attributes including total score, shareholder rights, board structure, and the quality of information disclosure do not show negative correlations with cash holdings, which poses a strong challenge to the validity of the agency theory in the determination of retail firms' cash holdings. Conclusions - This study presents interesting empirical results with respect to the cash policy in Korean retail firms. Consistent to prior studies, I verify that the agency theory only limitedly explains the level of cash holdings. Future studies may obtain more robust results by examining a longer sample period.

• Journal of Distribution Science
• /
• v.14 no.1
• /
• pp.51-58
• /
• 2016

Purpose - This study is to identify how the retail regulations influence customer shopping behaviours and furthermore, whether the Store Closing Act really protects independent retailers as well as traditional markets in Korea. Research design, data, and methodology - By adopting frequency analysis and factor analysis method, the research achieved research objectives. Before a field survey, the authors pre-tested the questionnaire developed, based on similar previous articles, and finalized. Amongst the 353 questionnaires distributed, 332 were returned. It means the response rate is 94.5%. Furthermore, available questionnaires are 330. Results - Rather than stimulating customers to more frequently visit public markets, the regulation has provoked new customer shopping behaviours. In other words, some consumers tend to shop in big box retailers before or after a store closing day, whereas others are likely to stop shopping. What is important is that customers do not patronise small retailers and conventional markets, thanks to the Store Closing Act. Conclusions - In order to keep retailers and public markets independent, the researchers suggest that the government should introduce new techniques without impeding the growth of a retailing sector.

• Journal of Distribution Science
• /
• v.14 no.8
• /
• pp.67-75
• /
• 2016

Purpose - This paper aims to measure the overall satisfaction of online grocery shopping and identify the quality components of online grocery delivery service. Furthermore, we examine the relationship between service quality, customer loyalty, customer satisfaction and intention of repurchase. Research design, data, and methodology - To test hypotheses, data was collected using questionnaires from online grocery shopping customers living in Korean local regions (Daejeon, Cheonan, Sejong). Quantitative research is applied using confirmative factor analysis and multiple linear regressions. Results - On the whole, customers are satisfied with the online grocery shopping. We found that convenience and reliability of grocery delivery service have a positive effect on the customer loyalty and customer satisfaction. Furthermore, we found that customer satisfaction has a mediating effect between convenience, reliability and customer loyalty. However, responsiveness of grocery delivery service does not have a positive effect on the customer loyalty and customer satisfaction. Conclusions - Since the quality of groceries are very sensitive to time and difficult to standardize, we need to analyze the quality components of delivery service unlike other commodities and find relationships with customer satisfaction, customer loyalty and repurchase intention. The results of research will contribute to providing satisfactory service and capturing loyal customers in retail industry.

• Journal of Distribution Science
• /
• v.18 no.2
• /
• pp.59-67
• /
• 2020

Purpose: This study examines the relationship between formation of employment subcenters and regional industrial structures in Incheon. Research design, data, and methodology: We used the five-year panel data from 2012 to 2016 in 146 basic municipal units of Incheon to analyze panel regression models. Gross employment density and employment to population ratio were used as indicators of employment subcenters formation. The entropy index and Hachman index were used for analyzing the diversity and heterogeneity of industrial structures. Result: The analyses of two panel regression models showed that for the formation of employment subcenters, both the Entropy and Hachman index were significantly negative in most models. But tertiary industry was shown to have a significant positive relationship in all models. In the wholesale and retail sector, it was found that the average number of employees in the employment subcenters is significantly higher than that in the non-employment subcenters. Conclusions: The specialization of the industrial structure rather than the diversification contributes to the formation of the employment subcenters in Incheon. In particular, it can be considered that the wholesale and retail sector plays a very important role in forming the employment subcenters in many areas of Incheon.