Customer return policies for experience goods

Article Abstract:

The economic rationale for the retail practice of allowing customers to return merchandise is examined in terms of consumer learning issues. Analysis shows that generous return policies lead to improved risk-sharing between sellers and customers, allowing consumers to protect themselves against any loss. In contrast, the absence of these customer return policies, provides zero expected utility to consumers, thereby reducing the incentive to shop at stores that do not permit the return of merchandise within a reasonable time frame.

Retail Store Chains, Chain stores, Consumer complaints

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Is Japan's retail sector truly distinctive?

Article Abstract:

Japan's retail sector is statistically analyzed to determine whether it is distinctive. International differences in numbers of stores per person, based on data from 16 countries, are analyzed. The country's ubiquity of retail stores mirrors its geography, transport system and limited living space. Such a ubiquity is found to be an economic response to unique local conditions.

Japan

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Slotting allowances and retailer market power

Article Abstract:

A study on correlation between slotting allowances in retailing industry, and retailer market power, is presented. For the purpose, a bilateral oligopoly model is used.

United Kingdom, Economic aspects

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