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Do retail regulations protect traditional markets as well as independent stores in Korea?

Purpose - With the increasing buying power, large retailers have rapidly expanded their own business across country. Korea started to regulate big box retailers not to open their new retail outlets near to the traditional markets registered on the central government and close their shops two days per month, with an aim to protect small retailers. This study is, thus, to measure the effects of retail legislations on small retailers and traditional markets. Research design - The authors have developed a questionnaire with five hypotheseson thebasis of previous research results and six constructs: the improvement of sales volume, the number of customers, the improvement of store traffic, the increase of store staff, business expansion and retail regulation. Furthermore, the research has adopted a five-point Likert-scale technique. In order to increase research reliability as well as validity, the authors have adopted a few different research techniques such as exploratory factor analysis (EFA) and confirmatory factor analysis (CFA). Conclusions - Compared to the large retailers who have grown since the introduction of retail restrictions, small shops are in decline. What is evident is that the current retail regulations do not protect traditional markets as well as independent stores in Korea. In order to improve the effects of retail restrictions on large retailers, the research indicates that the central government should change a retail policy, that is, introduce new technical ways to keep mom and pops and conventional markets, to some extent considering customer rights.

Abstract

1. Introduction

2. Literature review and hypothesis development

3. Research methodology

4. Findings

5. Conclusions

References

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