유통업체 브랜드와 점포 충성도의 관계에서 채널 유형의 조절 효과 (Moderating Effects of the Channel Type on the Relationship between Private Brand Share and Store Loyalty)

서지정보

· 발행기관 : 한국유통학회
· 수록지 정보 : 유통연구 / 25권 / 3호 / 67 ~ 84페이지
· 저자명 : 정환, 이라경, 박진용

초록

급속한 온라인 쇼핑으로의 전환, 다양한 소매업태의 등장 등으로 인해 경쟁이 치열해진 시장 환경 속에서 유통업체의 점포 충성도 제고를 위한 전략은 생존을 위해 필수적이다. 이러한 필요에 대응해 기존 선행 연구는 유통업체의 점포 충성도 제고를 위한 그들 고유 상품인 PB의 역할에 관해 조사하였으나, 연구 결과가 일관되지 않으며 조사 대상이 오프라인 채널에 국한되어 있다. 이와 같은 한계를 극복하기 위해 본 연구는 국내 유통시장에서 PB 구매비중이 점포 충성도에 미치는 영향에 관해 실증적으로 분석하였고, 그 영향이 오프라인과 온라인으로 구분되는 채널 유형에 의해 어떻게 달라지는지를 조사하였다. 또한 상이한 포지셔닝을 추구하는 이코노미 PB, 스탠다드 PB, 프리미엄 PB를 구분하여 분석함으로써 유통업체의 점포 충성도 제고를 위한 PB의 역할에 관한 이해를 확대하고자 했다. 이를 위해, 본 연구는 국내 대형마트 3사에서의 42개 FMCG 카테고리에 대한 고객 구매 정보를 제공하는 소비자 패널 데이터를 활용해 실증 분석을 수행하였다. 분석 결과, PB 구매비중이 점포 충성도에 대해 긍정적인 영향을 미친다는 사실을 발견하였으며, 특히 그 영향이 오프라인 점포에 비해 온라인몰에서 더 크게 나타남을 알 수 있었다. 그리고 세 등급 모두에서 PB 구매비중이 점포 충성도에 긍정적인 영향을 미치는데 그 영향이 오프라인 채널에서는 비단조적인 역U자 형태로 나타나는 반면, 온라인 채널에서는 단조적인 형태로 나타난다는 사실을 발견하였다.

영어초록

Amidst a highly competitive market environment due to a rapid transition to online shopping and the emergence of various retail formats, understanding how to increase store loyalty is crucial for the survival of retailers. In response to this need, prior studies on the role of PB- the unique product of retailers-investigated the relationship between PB share and store loyalty. Unfortunately, however, their results are not only inconsistent but also limited to the offline channel. In order to overcome this limit, this study examines the relationship between PB share and store loyalty in South Korean retail market and how the relationship differs depending on types of marketing channel, which are offline and online. Also, we try to expand the understanding of the role of PB in increasing the store loyalty of retailers by analyzing economy PB, standard PB, and premium PB, respectively which pursue different positioning.
With this aim, we perform an empirical study using Nielsen consumer panel data which provides customer purchase information across 42 FMCG categories for the 3 largest hypermarkets in South Korea. We respectively calculate the store loyalty (SOWit) of hypermarket offline stores and online malls, which is the dependent variable. Store loyalty is measured as the share of wallet, which is the ratio of the total amount each consumer panel purchased at a particular store to the total FMCG amount that panel purchased across all retailers. The key independent variable PB share (PBshareit) is measured with the same method used by Seenivasan, Sudhir, and Talukdar (2016) that divides the amount the consumer panel spent on purchasing PB products at a particular store by the total FMCG purchase amount across all retailers. Furthermore, the PB share is calculated by economy PB, standard PB, and premium PB respectively. Table 1 shows summary information on all variables in this study.
We analyze the random effect regression model of the below equation (1) by each hypermarket and estimate the model in maximum likelihood. The random effect model is used because consumer panels included in the data constitute a random sample of an entire consumer population (Baltagi, 2008).
According to prior research results store loyalty and PB share have an inverse U-shaped nonmonotonic relationship (Ailawadi, Pauwels, and Steenkamp, 2008; Gonzalez-Benito and Martos-Partal, 2012; Koschate-Fischer et al., 2014). Therefore, we include a quadratic term to the PB share in the model. ONLINEit is the dummy variable that represents the type of marketing channel in which consumer panel i made a purchase in year t (online mall purchase=1, offline store purchase =0).
The analysis results of the random effect regression model, shown in Table 2, can be summarized as follows: First, PB share has a positive effect on store loyalty (Hypermarket E: =3.035, p <.01, Hypermarket L: = 5.527, p <.01, Hypermarket H: = 3.687, p <.01). In addition, we find that the effect PB share has on store loyalty is in the form of an inverse-U (Hypermarket E: =-4.004, p <.01, Hypermarket L: = -17.574, p <.01, Hypermarket H: = -4.978, p <.01). This result means that when PB share is low, it shows a positive (+) effect on increase in store loyalty. However, when it rises above a certain level, it will rather show a negative effect. Similar results have been presented in several prior studies, but one thing to take note is that in this study the result is obtained even though PB share is measured using the Seenivasan et al. (2016) definition (PB share=PB spend at a particular store/Total spend across all retailers). Seenivasan et al. (2016) assert that the inverse-U shape relationship between PB share and store loyalty is artificially created due to the measure of PB share and have empirically shown that the relationship is monotonic when using another measures. However, this study finds that the inverse-U shape relationship can be seen from retailers in South Korea, despite using the Seenivasan et al. (2016) definition, which means that heavy users, who have a high PB purchase frequency, visit multiple stores of various retail formats in order to save expenditure.
Second, by examining the moderating effect of the channel type on the relationship between PB share and store loyalty of multi-channel distributors, this study shows that PB share has a relatively larger impact on the increase of store loyalty in online channels than in offline channels (Hypermarket E: =0.861, p <.01, Hypermarket L: = 1.627, p <.01, Hypermarket H: = 0.474, p <.1).
By analyzing additional regression models, this study also shows that not only economy PB and standard PB -whose positive effect had been shown by previous studies- but also premium PB that was relatively later developed and sold has a positive effect on store loyalty. Moreover, this study finds that online channels as opposed to offline stores often show a monotonic rather than an inverse-U shape relationship between PB share and store loyalty.

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