Influence Of Channel Convergence On Operating Effciency Of Listed Traditional Retail Companies In China

Retailing is in the terminal link of commodity circulation and is the pillar industry of national economy.However,recent years,the development of traditional retailing enterprises,which occupy about 70%of the retail market in China,is not satisfactory.On the one hand,in the face of serious homogeneous competition,high operating costs and the adverse situation of the consumer market,traditional retail enterprises need to find the right direction to achieve transformation and innovation,improve quality and efficiency.On the other hand,the sales of retail enterprises in online channels maintain a steady growth,and leading e-commerce enterprises begin to carry out all-channel layout to seize the consumer market in traditional channels.In the context of the stagnation of traditional retail development and the crowding of online retail market,many traditional retail enterprises have been "connected to the Internet" through self-built platforms,cooperation with third-party platforms and other ways.The mode of channel integration development has become a new trend of the development of traditional retail industry.What exactly is channel convergence?Under the current industry background,what is the current operating efficiency of China’s traditional retail listed companies?What impact will channel convergence development have on operational efficiency?How should enterprises choose the construction method of online channel?These are the questions facing traditional retailers and researchers.Based on the above background,this paper,based on deA-TOBIT two-step analysis method,adopts theoretical and empirical methods to study the operating efficiency of China’s traditional retail listed companies,and conducts qualitative and quantitative analysis on the impact of channel convergence on operating efficiency.In theory,the concept of retail,traditional retail and channel integration development is defined,the research status of domestic and foreign scholars on traditional retail enterprises is sorted out and commented,and the research mechanism of the paper is summarized.Empirical aspect,this article selects 88 traditional retail listed companies as samples,based on the data in 2018-2020,the first use of DEA model to evaluate traditional Chinese retail listed companies as a whole comprehensive technical efficiency,pure technical efficiency and scale efficiency,and then based on"whether the channel integration" and "channel integration mode" on the sample classification,A preliminary judgment is made on whether the channel convergence development model has an impact on the operating efficiency of listed retail companies.Then,the Tobit model is used to further determine the impact of the channel convergence development model on the operating efficiency of traditional listed retail companies.Finally,the conclusions of this paper are summarized based on the empirical results above.Suggestions are put forward for retail enterprises to make strategic decision of channel integration and retail industry policy making.The results show that:first,the operating efficiency of most traditional retail listed companies in China is not ideal.From 2018 to 2020,only 2%-7%of enterprises can achieve DEA effectiveness,and the comprehensive technical efficiency of most enterprises is distributed in the middle and lower segments,indicating the extensive operation mode and low resource allocation efficiency of China’s traditional retail industry.Second,the channel integration development model has a significant negative impact on the operational efficiency of traditional retail listed companies.Thirdly,different channel integration methods have different impacts on operating efficiency.According to the classification results measured by DEA,the average operating efficiency of traditional retail enterprises using the integration of only third-party channels,only self-built channels,and self-built and relying on third-party channels decreases successively.However,due to the small number of samples from self-built channels,TOBIT regression can only come to the conclusion that "the operation efficiency of traditional listed retail companies with the help of the third party alone is significantly higher than that of self-established and third-party integration".