Measuring the Impact of the Internet on Retailing

Julian Gough

World Economics, 2017, vol. 18, issue 4, 211-236

Abstract: The internet has radically changed the purchasing of goods and services leading to a rapid expansion of online retailers and a decline of many traditional shops on the high street. The UK is the leading nation in Europe in terms of online sales, after a remarkable change in consumers' spending patterns, with a value of £67bn in 2017, 18% of total retail sales. Economists have neglected retailing as a subject area, perhaps reflecting the complexity of its operations, but it is possible to construct a model of retailing by adapting the conventional marginal theory of the firm. Online retailing has benefits-the ability to view, compare and choose products at competitive prices on screen, pay online with fast home delivery-and costs-the disappearance of small local shops with after-sales service.

Date: 2017
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Persistent link: https://EconPapers.repec.org/RePEc:wej:wldecn:692

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