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Measuring the Impact of the Internet on Retailing

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  • Julian Gough

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.

Suggested Citation

  • Julian Gough, 2017. "Measuring the Impact of the Internet on Retailing," World Economics, World Economics, 1 Ivory Square, Plantation Wharf, London, United Kingdom, SW11 3UE, vol. 18(4), pages 211-236, October.
    • Handle: RePEc:wej:wldecn:692
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