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Price Dispersion and Supermarket Heterogeneity in Spanish Food Retailing

Author:
Xulia González   Daniel Miles  


Issue Date:
2015


Abstract(summary):

The objective of this paper is to analyze the existence and persistence of price dispersion in the Spanish food retailing market, and measure the importance of search cost in this market. The data set is obtained scraping price data from supermarket websites on a daily basis since September 2013 to March 2014. We obtain information from different locations around Spain with the aim of examining heterogeneity of search costs across independent markets. We found that supermarkets face heterogeneous price dynamic strategies. Some supermarkets have persistently lower prices than others; the frequency of price changes differs among chains; and prices are decided at different levels (chain vs. store). When using the price of a homogeneous basket containing the most popular products, our results show that price dispersion is still present after controlling for store differentiation, around 87 percent of the variation in prices is explained by supermarket heterogeneity and the amount of search is relatively low.


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