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Further Reflections on the Golden Age in British Multiple Retailing 1976–94: Capital Investment, Market Share, and Retail Margins

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  • Carlo Morelli

    (Department of Economics, University of Dundee, Dundee DD1 4HN, Scotland)

Abstract

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 rising retail concentration and a perceived increase in retailers' economic power have had on social welfare and competition policy. This increase in concentration and economic 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. The author 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 both with margins and with 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 retailers' economic power which many authors feared was taking place.

Suggested Citation

  • Carlo Morelli, 2007. "Further Reflections on the Golden Age in British Multiple Retailing 1976–94: Capital Investment, Market Share, and Retail Margins," Environment and Planning A, , vol. 39(12), pages 2993-3007, December.
    • Handle: RePEc:sae:envira:v:39:y:2007:i:12:p:2993-3007
    DOI: 10.1068/a38412
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    References listed on IDEAS

    as
    1. Neil M Coe, 2004. "The Internationalisation/Globalisation of Retailing: Towards an Economic – Geographical Research Agenda," Environment and Planning A, , vol. 36(9), pages 1571-1594, September.
    2. Carlo Morelli, 2004. "Explaining the Growth of British Multiple Retailing during the Golden Age: 1976–94," Environment and Planning A, , vol. 36(4), pages 667-684, April.
    3. N Wrigley, 1998. "Understanding Store Development Programmes in Post-Property-Crisis UK Food Retailing," Environment and Planning A, , vol. 30(1), pages 15-35, January.
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    Cited by:

    1. Carlo Morelli, 2009. "Modern British Retailing in the Late 20th Century: Increasing Value?," Dundee Discussion Papers in Economics 227, Economic Studies, University of Dundee.

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