Further reflections on the Golden Age in British multiple retailing 1976-1994: capital investment, market share and retail margins

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    Abstract

    Our understanding of the ‘Golden Age’ of British retailing, during the period from the mid-1970s through to the mid-1990s, has centred around a discussion of the impact that a rising retail concentration and a perceived increase in retailers’ market power has had on social welfare and competition policy. This increase in concentration and market power is itself understood to have evolved from the defining feature of the golden age, a rapid increase in capital investment by large-scale retailers. This paper examines the role played by capital investment in the golden age and demonstrates that whilst capital investment is negatively correlated with turnover it is positively correlated with both margins and market share. It is suggested that this relationship is significant as it provides evidence that the golden age of retailing did indeed lead to the rise in market power much of the literature feared was taking place.
    Original languageEnglish
    PublisherUniversity of Dundee
    Publication statusPublished - 2005

    Publication series

    NameDundee Discussion Papers in Economics
    PublisherUniversity of Dundee
    No.183
    ISSN (Print)1473-236X

    Fingerprint

    Margin
    Retail
    Market share
    Retailing
    Capital investment
    Market power
    Retailers
    Social welfare
    Competition policy
    Turnover
    Welfare policy

    Cite this

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    abstract = "Our understanding of the ‘Golden Age’ of British retailing, during the period from the mid-1970s through to the mid-1990s, has centred around a discussion of the impact that a rising retail concentration and a perceived increase in retailers’ market power has had on social welfare and competition policy. This increase in concentration and market power is itself understood to have evolved from the defining feature of the golden age, a rapid increase in capital investment by large-scale retailers. This paper examines the role played by capital investment in the golden age and demonstrates that whilst capital investment is negatively correlated with turnover it is positively correlated with both margins and market share. It is suggested that this relationship is significant as it provides evidence that the golden age of retailing did indeed lead to the rise in market power much of the literature feared was taking place.",
    author = "Carlo Morelli",
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    Further reflections on the Golden Age in British multiple retailing 1976-1994: capital investment, market share and retail margins. / Morelli, Carlo.

    University of Dundee, 2005. (Dundee Discussion Papers in Economics; No. 183).

    Research output: Working paperDiscussion paper

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