• 유통과학연구
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• 제16권4호
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• pp.17-20
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• 2018

Purpose - The purpose of this paper is to analyze and illustrate Amazon's business strategies and its success in terms of its distribution strategy and business practices. Research design, data, and methodology - This is an analytical case study that examines Amazon's business strategies to demonstrate the importance of technologies to the success and sustainability of its organization. Results - The analysis indicates that the business strategies, including technology, distribution infrastructure, and customer service, are the most vital factor for the success and rise of Amazon, and these strategies have separated Amazon from its competitors in both e-tail and brick and mortar retail industries. Conclusions - Given Amazon's continued growth that came with its constant strive for delivery and cost efficiency, technology innovation, and customer satisfaction, it was inevitable that Amazon would eventually venture into different types of businesses. The previous and current Amazon's business strategies demonstrate that Amazon will continue to focus on developing and implementing new and creative strategies to separate itself from the rest of the retail and e-businesses. Furthermore, retail businesses in the most high-tech countries in the world, including Japan, Korea, and Russia, may have to adopt business strategies that are similar to those of Amazon to maintain their competitiveness.

• 유통과학연구
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• 제20권2호
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• pp.91-100
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• 2022

Purpose: The sports industry is a major form of leisure and entertainment, but the industry was tremendously affected by the Covid-19 pandemic. This study gives solutions for sports leisure retail stores to the effects of the Covid-19 crisis on consumers' sports products purchasing habits and then gives a logical conclusion regarding the findings of the topic. Research design, data and methodology: Scant research is available to feedback for owners and managers of sports leisure retail stores which elements could be considered to recover their business prior to the pandemic. For achieving this, this study investigated total 284 responses in the retail stores and conducted the ANOVA analysis to compare the level of intensity on the impact Covid 19 pandemic. Results: Our findings suggests that there was a statistically recognizable difference at the significance level of probability between the mean value of the impact index of Covid 19 pandemic and key recovery strategies, indicating the high degree of Covid 19 impact can be reducing by four solutions. Conclusions: Finally, this study concludes the specific entertainment elements that influence the purchasing behavior of consumers will ensure that the Sports industry deals with its internal problems first without necessarily looking at the outside factors such as the pandemic.

• 유통과학연구
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• 제17권2호
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• pp.5-11
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• 2019

Purpose - This paper examines how corporate social responsibility of the Korean retail industry affects the degree of asymmetric information. Recent theories predict that a firm's active engagement in socially responsible activities lowers the degree of asymmetric information of the firm. Research design, data, and methodology - This paper uses the sum of environmental and social scores (ES), published by the Korean Corporate Governance Service in order to proxy the degree of socially responsible management practices of Korean retail firms. This paper uses the ordinary least square method to investigate the above predictions. The publicly traded Korea retail firms listed in the Korean Exchange are analyzed from 2011 to 2016. To measure the degree of asymmetric information, this paper adopts the analyst dispersion and price impact measures. Results - This paper shows that the ES score has significantly positive relationships with these two measures of information asymmetry. The environmental score seems to increase the analyst dispersion measure and the social score appears to raise the price impact measure mores significantly. Conclusions - The results do not support the prior theory expecting a negative relationship between corporate social responsibility and the degree of asymmetric information. Environmental and social scores are found to affect the measures of information asymmetry differently.

• 유통과학연구
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• 제17권6호
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• pp.33-42
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• 2019

Purpose - We investigate whether a firm's engagement in socially responsible activity affects the quality of financial reporting within the retail industry of Korean market. Recent studies argue that more socially responsible firms tend to show a better quality of financial reporting. Research design, data, and methodology - We use a variety of proxy variables related to the use of discretionary accruals and real activity manipulation to measure the quality of financial reporting. The total of environmental, social and governance score is used to represent the degree of socially responsible activity in the retail industry. We use regression models to examine whether more socially responsible firms show a higher quality of financial reporting. The sample of publicly traded Korea retail firms is analyzed from 2011 to 2016. Results - Our analysis finds supporting evidence for limited earning management via the use of discretionary accruals. We find, however, no significant relationship between the degree of social responsibility and the quality of financial reporting within chaebol affiliates unlike non-chaebol affiliates. Conclusions - Our results weakly support a better quality of financial reporting for more socially responsible firms. The results highlight the importance of firm characteristics in deciding the effect of socially responsible activity on corporate policies.

• 유통과학연구
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• 제12권10호
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• pp.75-84
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• 2014

Purpose - This article aims to examine whether the stock issuance of firms in the retail industry follows Myers' (1984) pecking order theory, which is based on information asymmetry. According to the pecking order model, firms have a sequence of financing decisions, of which the first choice is to use retained earnings, the second one is to get into safe debt, the next involves risky debt, and the last involves finance with outside equity. Since the 2000s, the polarization of the LEs (Large enterprises) and SMEs (Small and Medium Enterprises) arose in the retail industry. The LEs exhibited an improvement in growth and profitability, whereas SMEs had a tendency to degenerate. This study contributes to corroborating the features of financing decisions in the retail industry distinguished from the other industries. Research design, data, and methodology - This study considers the stocks listed on the KOSPI and KOSDAQ markets from 1991 to 2013, and is more concentrated on the stocks in the retail industry. The data were collected from the financial information company, WISEfn. The empirical analysis is conducted by employing two measures of net equity issues (and), which were introduced in Fama and French (2005), and can be calculated from firms' accounting information. All variables are generated as the aggregate value of the numerator divided by aggregate assets, which, in effect, treats the entire sample as a single firm. Substantially, the financing decisions of the firms were analyzed by examining how often and under what circumstances firms issue and repurchase equity. Then, this study compares the features of the retail industry with those of the other industries. Results - The proportion of sample firms that show annual net stock issues reaching the level of the year's average was 54.33% for the 1990s, and fell to 39.93% per year for the 2000s. In detail, the fraction of the small firms actually increases from 45.08% to 51.04%, whereas that of large firms shows a dramatic decline from 58.94% to 24.76%. Considering the fact that the large firms' rapid increase in growth after the 2000s may lead to an increase in equity issues, this result is rather surprising. Meanwhile, net stock repurchases of assets are considerably disproportionate between the large (-50.11%) and the small firms (-15.66%) for the 2000s. Conclusions - Stock issuance of retail firms is not in line with the traditional seasoned equity offering based on information asymmetry. The net stock issuance of the small firms in the retail industry can be interpreted as part of an effort to reorganize business and solicit new investment to resolve degenerating business performance. For large firms, on the other hand, the net repurchase can be regarded as part of an effort to rearrange business for efficiency and amplifying synergy across business sections through spin-off. These results can help the government establish a support policy on retail industry according to size.

• 유통과학연구
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• 제13권4호
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• pp.77-87
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• 2015

Purpose - This study aims to investigate the current state of distribution terminology usage by retailers and consumers nationwide, and to suggest a practical improvement plan for its standardization. The Korean distribution industry is closely related to consumers' daily lives. However, in reality, there exists a gap among producers, distributors, and consumers in terms of the definition, understanding, and perception of the terminology. Therefore, standardizing this terminology is essential for more smooth communication. This paper suggests the necessity of committing overall research and survey activities to the actual conditions of using Korean distribution terminology by organizations and their respective management situations, and further, the necessity of probing the problem and its measures in line with the objective and mission of the "Fundamental Law of the Korean Language." Research design, data, and methodology - This study's scope is limited to wholesale and retail including some information systems. First, the study covers most written material including lexicons and glossary of distribution terminology, university textbooks and teaching material for national certificate of qualification, and related laws and ordinances. Second, the survey covers retailers' management situations by store format. The retailers used as the sample for the survey include department stores, discount stores, SSM, and convenience stores. Altogether, 20 specialists were interviewed in their respective sectors or retail formats. Finally, the project team surveyed a sample of 1,300 consumers nationwide on 50 distribution terms mainly used by consumers, including those about awareness, understanding, usage, and attitude. Results - In total, 1,249 terms are drawn through literature research including distribution terminology used in the related literature, glossary and lexicons, distribution terminology in textbooks, and legal terminology. A classified table comprises four large categories including general distribution, distribution marketing, distribution information, and merchandise. The results of the three-step research including literature survey, field survey of retailers, and consumer survey were advised to be screened by academia (retail associations, faculty etc.), retailers (major retail management by store format), retail specialists and consultants, consumers, and Korean linguists. In total, 1,300 questionnaires for 50 terms of the distribution terminology closely associated with consumers were distributed to subjects nationwide. Conclusions - The desired and expected results from this study are summarized from three perspectives as follows: First, from retailers' perspective, a new concept, or coinage of new terms of the distribution industry stems from advanced countries such as America and Europe. However, the original meaning and definition are diluted and distorted with changes in the language users' situations and context. This study provides basic guidelines for standardization of distribution terms used among various retail formats in most daily life situations that consumers encounter. Second, from the nation's perspective, this study suggests optimal choices of distribution terminology in the context of laws and ordinances regarding concerned Ministries. Last, from the consumers' perspective, this paper enables consumers to understand and use distribution terms properly in their daily life.

• 유통과학연구
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• 제19권3호
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• pp.5-14
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• 2021

Purpose: This study aims to clarify the behavioral extraction and ability of venture merchants, who actively challenge commerce in the face of harsh living environments. Research design, data and methodology: Adopting the concept of retail functions and retail skills, this study examines how venture merchants perform retail functions, and identifies the required retail skills. This study analyzed primary data obtained through an interview with a bookstore called Lunuganga. Results: The venture merchant purchases products based on his self-assertion and creates an original "store identification." Moreover, he draws a changing "own-store customers image" and acquires "own-store customers," that is, customers acquired by him by building an original store identity. He sells products to "own-store customers" who identify with the store. The retail skills identified as required by venture merchants to carry out such retail functions were "skill to draw a store identification" and "skill to draw own-store customer image." Conclusions: Venture merchants' unique retail functions and retail skills suggest a new basis for the existence of small and medium-sized retailers. It is necessary to build a generalized theoretical hypothesis model by refining the concept presented in this paper by repeating research targeting venture merchants in the same industry and different industries.

• 유통과학연구
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• 제15권9호
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• pp.5-16
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• 2017

Purpose - This research is to provide new insights for policy makers in Korea, comparing South Korea and foreign countries such as Japan, UK, France, Germany, Netherlands, Sweden, Spain and the forth, in terms of the effects of retail regulations on a retail trade industry. Research design, data, and methodology - After introduction, the research begins with literature review on the background why advanced countries have introduced retail legislations, then, will present their effects. The fourth section will compare the South Korea with the above foreign countries. Finally, the authors will draw conclusions and mention not only research limitations but also future research directions. Results - Based on the previous research, the authors compared Korea and advanced countries, in terms of how retail regulations influence retail employment, retail productivity, retail price, and the protection of independent retailers. The authors found that industrialized countries have made a significant effort to protect small shops for social stability with many different regulations and/or budget. With regard to results, however, the degree of its achievement is lower than expected. Conclusions - In order to protect small- and medium-sized retailers efficiently and effectively, policy makers need to develop better sophisticated retail regulations than those of advanced countries.

• 한국유통학회지:유통연구
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• 제6권2호
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• pp.41-64
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• 2002

현재까지 우리 유통산업(도·소매업) 및 유통업태의 성장 추이나 예측에 대한 연구는 경제모형의 설계에 의한 계량분석 방법이 아닌, 개별 업태별 사업계획으로부터 추정하는 보톱-업(bottom-up) 방식의 자의적인 추정 방법을 이용하여 왔다. 따라서 본 연구에서는 우리 유통산업 및 주요 소매 업태를 업태별 전망 모형을 구축하여 성장 패턴을 추정, 전망하고자 한다. 본 연구는 소매 업태별 성장 추세 분석을 통하여 매우 흥미로운 결과를 발견할 수 있었다. 즉 백화점, 편의점 및 전문점의 성장은 민간 소비 지출과 가장 밀접한 관련을 가지고 있고, 할인점은 소비지출의 증감과 전혀 무관하게 최근 매년 40% 이상 성장하고 있음을 보여주어 현재 우리가 할인점 전성시대에 살고 있음을 실감할 수 있었다. 한편 슈퍼마켓은 IMF이후 소비지출의 성장률에 훨씬 못 미치는 성장을 보이고 있고 이 추세는 계속될 것으로 전망된다. 마지막으로 통계청의 소매 업태 분류상, 기타의 경우, 최근 급부상하고 있는 TV 홈쇼핑 및 온라인 쇼핑몰 등과 함께, 쇠퇴업태인 재래시장을 동시에 포함하고 있어 그 통계의 유용성이나 신뢰성에서 많은 문제를 내포하고 있다. 따라서 이들 소매업태 분류의 개선 및 보완작업이 시급히 요망된다.

• 유통과학연구
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• 제19권5호
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• pp.13-21
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• 2021

Purpose: The sports leadership theories are crucial in ensuring the success of corporations. This study shall discuss the various leadership theories employed in the sports industry and how they can be incorporated within the retailing sector to enhance the service quality and promote substantial customer value towards all the consumers visiting the retailing stores. Research design, data and methodology: The present researcher gathered textual data on potential solutions for coding of development through web searching method and coded and produced various topics as solution providers. Methods were then established to enhance quality on customer value by the leadership within their businesses, and the researcher subsequently presented the findings. Results: This study provides a total of nine solutions which are helpful systemically for practitioners in the retailer service sector. These numerous solutions can be incorporated within the retail industry through the sports leadership theories employed in the sports industry to help achieve a full and strong customer value. Conclusions: Finally, the present study concludes that the retail industry and management need to ensure that a substantial customer value is built through high-quality services rendered towards the clientele base, employing sports leadership theories such as path-goal, authentic leadership, transformation, situational and leader-member exchange theories.