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来源类型Working Paper
规范类型报告
DOI10.3386/w29561
来源IDWorking Paper 29561
Customers and Retail Growth
Liran Einav; Peter J. Klenow; Jonathan D. Levin; Raviv Murciano-Goroff
发表日期2021-12-13
出版年2021
语种英语
摘要Using Visa debit and credit card transactions in the U.S. from 2016 to 2019, we document the importance of customers in accounting for sales variation across merchants, across stores within retail chains, and over time for individual merchants and stores. Customers, as opposed to transactions per customer or dollar sales per transaction, consistently account for about 80% of sales variation. The top 1% of growing and shrinking merchants account for about 70% of customer and sales reallocation in a given year. In order to illustrate some of the potential implications, we write down an endogenous growth model with and without the customer margin. In the context of this model, we find that the customer margin dramatically increases the size and growth contribution of the largest firms, but lowers the aggregate growth rate by diverting resources from research to customer acquisition activities.
主题Macroeconomics ; Consumption and Investment ; Industrial Organization ; Industry Studies ; Development and Growth ; Growth and Productivity
URLhttps://www.nber.org/papers/w29561
来源智库National Bureau of Economic Research (United States)
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资源类型智库出版物
条目标识符http://119.78.100.153/handle/2XGU8XDN/587235
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GB/T 7714
Liran Einav,Peter J. Klenow,Jonathan D. Levin,et al. Customers and Retail Growth. 2021.
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