Dundee Discussion Papers in Economics Further reflections on the Golden Age in British multiple retailing 1976-1994 : capital investment , market share and retail margins (original) (raw)
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Environment and Planning A, 2007
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.
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Environment and Planning A, 2004
The author examines the growth of multiple retailing during the`golden age' in Britain. The growth of real turnover is used as the dependent variable in a quantitative analysis of the growth in large-scale multiple retailing from 1976 until 1994. The author examines for the first time the determinants of this growth against a variety of supply and demand variables. It is found that the importance given to capital investment in previous studies of the golden age is not justified by the data.
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