The nature and relevance of the retail sector cannot be questioned as far as economic growth of a nation is concerned. It is important to acknowledge the fact that the economics of retailing and distribution is still facing a deficiency in the number of references to draw its theoretical basis and explanation to its major drawbacks. The number of challenges facing the retailing industry still lack sufficient remedies because of the little research being conducted by economists in this field. The solutions to the major problems have been left on the hands of marketing professionals who find it difficult to come up with elaborate econometric models to explain the underlying challenges in this sector. Retailing and distribution are directly linked. In the modern market, holding some aspects of perfect market constant, still there are imperfections that must be addressed to give equal opportunity to all stakeholders. The classical economics has failed to give an explanation for the property right hence the need to adopt a mechanism for this. The role of retail and distribution is evident given the number of jobs it has help create globally. Equipping learners with sufficient knowledge of the retail and distribution industry is the epicenter of the literature coverage in this book. The writing of this book is based on the major economic principles. The major economic methodologies and literature has been put into use in the book making them relevant in giving explanations to a vast number of issues in retailing and distribution. The economic role of retail and distribution has not been ignored in the material context as the studies and research done on the field have been employed in the book. An attempt has been made to handle individual topics in the book independently and in an ascending order; from simple to complex, giving the learner a friendly and convenient approaches to the major content in the book. The main purpose of this book is to highlight the existing segments in the retail industry and provide explanations to some of the niches. It aims at providing space for future extensions for integrating the recommendations form scholarly findings relevant in retail and marketing economics.
About the Author: Jagat Prirayani is a PhD economics candidate in the University of Glasgow, the United Kingdom, and hold Masters in economics from the University of Illinois at Urbana Champaign, the USA. He is the member the US Fulbright scholars and studied at St. John University at Manhattan and the University of California Santa Cruz and worked as a bank supervisor and market researcher in the Central Bank of Indonesia, Indonesian Financial Services Authority, and Astra Insurance. Now is currently working as a consultant to companies mainly in Europe and the United States, and actively focusing on the dynamic modeling research of macroprudential and monetary policy coordination, which fully funded by the University of Glasgow.