Retail internationalisation : drivers, impediments and business strategy

In light of recent changes in the international environment it is important to consider whether the drivers and impediments of retail internationalisation and the business strategy adopted have also changed. The findings from 12 qualitative interviews with UK and US retailers indicate that a variety of factors, ranging from historical precedence and investor pressures to saturation of the domestic market and foreign market attractiveness, drive retail internationalisation. In terms of impediments to foreign expansion, issues such as political and economic instability, previous experience and perceived cultural differences presented obstacles to internationalisation. Interviewees also expressed a desire for increased standardisation, while acknowledging a substantial degree of adaptation in response to cultural differences.

The mediating role of competitive advantage in the relationship between organisational capabilities and retail performance

This paper investigates the relationships between market, learning and brand orientation with competitive advantage and organisational performance in the context of the UK retail industry. The results indicate that competitive advantage contributes to strategic effectiveness and mediates the relationship between learning and brand orientation and strategic effectiveness. No significant relationship was found in relation to financial performance. Moreover, market orientation was not found to have a significant direct effect on competitive advantage or indirect affect on performance.

The importance of retail strategy for pharmacies

Limited academic research has focused on the retail management of pharmacies since prior studies have primarily addressed the professional service aspect of pharmacy operations. Particularly absent is the investigation of a pharmacist’s retail strategy and its relationship with non-prescription pharmacy performance. Moreover, this paper postulates that a pharmacy’s natural abilities in the form of organisational characteristics, resources and capabilities are important antecedents to the development of a retail strategy. We propose that the retail strategy and pharmacy performance relationship, which is the focus of this paper, does not operate in isolation and critical organisational antecedents are an influencing factor.

A resource-based view of retail competitive advantage

This paper investigates the relationships between brand, market and learning orientation with competitive advantage in the context of the UK retail industry. The results indicate that both brand and learning orientations have a significant positive relationship with competitive advantage. However, market orientation was not found to have a significant influence on retail competitive advantage. These findings suggest that market orientation may result in competitive parity only, while superiority in the retail sector is dependent on the speed of earning and the application of knowledge in the form of a strong brand orientation.

Perceptions of power and dependence between retail buyers and fresh produce suppliers within the Australian fresh produce industry

The research aims to gain a deeper understanding of direct buyer-supplier relationships within the Australian fresh produce industry. Specifically, dependence and power within the buyer-supplier relationship are considered in terms of their antecedents and their relationships their-in. In-depth interviews with buyers and suppliers provided the means by which to expose perceptions with regard to the relative importance of dependence and power within the relationship. The research reveals that relationship antecedents (trading offer: price and quality) impact power and dependence and are, in tum, impacted by them.

Psychic distance : antecedents, retail strategy implications and performance outcomes

The authors propose a conceptual model of the psychic distance–organizational performance relationship that incorporates organizational factors (international experience and centralization of decision making), entry strategy, and retail strategy implications. The findings suggest that when entering psychically distant markets, retailers should adopt low-cost/low-control entry strategies and adapt their retail strategy to a greater extent than in psychically close markets. However, the authors find that such strategic responses have an adverse effect on performance. They find that international experience, psychic distance, entry strategy, and retail strategy adaptation are significant drivers of organizational performance and factors that determine critical success in international retailing.

Revisiting retail internationalisation drivers, impediments and business strategy

Purpose: – In the light of recent changes in the international environment, the purpose of this paper is to consider whether the drivers of, and impediments to, retail internationalisation and the business strategy adopted have also changed.

Design/methodology/approach: – Interviews were conducted with 12 UK and US retailers. These exploratory data were combined with a review of the literature to explore changes in the drivers and impediments of retail internationalisation.

Findings: – Findings of this study suggest that, while a variety of factors drive retail internationalisation, profit growth is the most dominant motivator. In terms of impediments to foreign expansion, domestic market conditions were a barrier to the initiation of foreign expansion, whilst the regulatory environment and previous experiences presented obstacles in the process of internationalisation. Interviewees also expressed a desire for increased standardisation, while acknowledging the need for a substantial degree of adaptation in response to cultural differences.

Research limitations/implications: – The research findings are limited in terms of their generalisability.

Originality/value: – Much of the existing research into retail internationalisation was conducted in the 1990s. Given the substantial changes that have occurred over the past 15 years, the value of this paper lies in the updating of knowledge.

Do retail option traders know better about market volatility?

This paper examines the informational content and predictive power of implied volatility over different forecasting horizons in a sample of European covered warrants traded in the Hong Kong and Singapore markets. The empirical results show that time-series-based volatility forecasts outperform implied volatility forecast as predictors of future volatility. The finding also suggests that implied volatility is biased and informationally inefficient and that covered warrants are typically overvalued. The results are attributable to the fact that, in Hong Kong and Singapore, the covered warrants markets are dominated by retail investors who tend to use covered warrants' leverage to speculate on the price movements of the underlying assets rather than to express their view on volatility. Arbitrage is not possible in the markets as short-selling of covered warrants is prohibited.

Retail franchising : management and support within the franchise network

Management and support within the franchise network has been an underdeveloped area in the literature to date, especially in the international context. In light of this acknowledgment, the current paper will focus on management and support within the franchise network, by looking at coercive and non-coercive power sources, as methods used for control in the franchisor-franchisee relationship. The relationships between these power sources, the degree of uniformity and the franchise offering will subsequently be addressed.

CSR orientation and organisational performance in the Australian retail industry

This paper aims to contribute to current business ethics literature by conceptualising the relationship between organisational culture, corporate strategy, and target stakeholders and the formation of a CSR orientation. The paper will further explore whether corporate social responsibility policies and practices will result in an overall improved positional advantage for the firm and, as a consequence, positively enhance organisational performance. These relationships will be examined within the context of the retail industry in Australia, focusing on the food, clothing and textiles, and footwear sectors.

Identifying linkages between generations and the property market : the effect on residential and retail property

In the analysis of property markets, especially the retail and residential sectors, increasing importance is being given to the role of demography. The impact of economic influences such as interest rate movements, inflation and changes in the labour market are well documented and although these variables are clearly important. they do not incorporate the changing characteristics of the local inhabitants who actually generate the demand. However, demography can provide an invaluable insight into retail and residential property trends, especially over the long term, and are assisted by reliable population datasets with a relatively high level of detail. For example, the emergence of the 'baby boom' generation and the trend towards geographical relocation had a substantial effect on demand for retail and housing products, although little consideration has been given to the effect from the subsequent cohorts, namely generations X,Y and Z. This paper examines the role of demography when researching property markets, with the focus placed on demographic shifts. It discusses trends in arange of demographic variables that have been observed in society. In addition, it highlights linkages with property markets, especially residential and retail property, and draws inferences for long term trends.The study concludes that when conducting research into property markets. it is essential to have a thorough understanding of various demographic variables to predict how they affect demand. An appreciation of the drivers behind generations will assist property researchers to identify future needs, and the subsequent effect this will have on community development involving retail and residential property.

Identifying linkages between generations and community development: the effect on residential and retail property

In the analysis of property markets, especially the retail and residential sectors, increasing importance is being given to the role of demography. The impact of economic influences such as interest rate movements, inflation and changes in the labour market are well documented and although these variables are clearly important, they do not incorporate the changing characteristics of the local inhabitants who actually provide the demand. However, demography can provide an invaluable insight into retail and residential property trends, especially over the long term, and are assisted by reliable population datasets with a relatively high level of detail. For example, the emergence of the 'baby boom' generation shift had a substantial effect on demand for retail and housing products, although little consideration has been given to the effect from the subsequent cohorts, namely generations X, Y and Z.

This paper examines the role of demography when researching property markets, with the focus placed on demographic shifts. It discusses trends in a range of demographic variables that have been observed in society. In addition, it highlights linkages with property markets, especially residential and retail property, and draws inferences for long term trends. The study concludes that when conducting research into property markets, it is essential to have a thorough understanding of various demographic variables to predict how they affect demand. An appreciation of the drivers behind generations will assist property researchers to identify future needs, and the subsequent effect this will have on community development involving retail and residential property.