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Pricing Strategies of Food Retailers

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  • Stephen F. Hamilton
  • Jura Liaukonyte
  • Timothy J. Richards

Abstract

Studies examining pricing outcomes in the food retail industry are complicated both by the multiproduct nature of transactions and by the presence of highly concentrated food processing and retailing industries that mediate between relatively competitive farm product markets and the consumer market. In this review, we examine theoretical and empirical evidence for retail pricing and the vertical relationships that have emerged among retailers, food manufacturers, and farmers. We first focus our analysis on consumer behavior in multiproduct retail markets, including consumer search, habit formation, and reference pricing, and then discuss retail market outcomes for price discrimination, price fairness, and price obfuscation. We then turn to relationships between retailers and food manufacturers through bargaining outcomes, market foreclosure, and slotting allowances, and discuss the resulting implications for retail-price pass-through.

Suggested Citation

  • Stephen F. Hamilton & Jura Liaukonyte & Timothy J. Richards, 2020. "Pricing Strategies of Food Retailers," Annual Review of Resource Economics, Annual Reviews, vol. 12(1), pages 87-110, October.
    • Handle: RePEc:anr:reseco:v:12:y:2020:p:87-110
    DOI: 10.1146/annurev-resource-101619-094219
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    Cited by:

    1. Stephen F. Hamilton & David L. Sunding, 2021. "Joint Oligopsony‐Oligopoly Power in Food Processing Industries: Application to the us Broiler Industry," American Journal of Agricultural Economics, John Wiley & Sons, vol. 103(4), pages 1398-1413, August.

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