A Shameless Pitch for Quantitative Marketing

Abstract

At least half of the food sold in the United States is sold through some form of retail outlet. Understanding retail demand, therefore, is critical to understanding some of the most important issues facing U.S. agribusinesses today. Retail demand models, however, are fundamentally different from the commodity demand models used extensively in the agribusiness literature. In this letter, I outline the features of retailing, and their implications for modeling the retail demand for food.

A closer look at the relationship between concentration, prices, and market power in food retail—A monopolistic competition and differentiated products approach

“…We apply detailed weekly retail scanner data from Information Resources, Incorporated (IRI) from 2008 to 2018 to Equation (7) to estimate the elasticity of demand. We select the top 100 products in terms of all consumer expenditure as a representative selection of goods to allow for estimation at the UPC product level as suggested by Richards (2015). 9 We use observations at the weekly-store-UPC product level with 141 chains and across 574 weeks with 100 products.…”