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- W1567146152 abstract "This paper analyzes distribution of products to consumers who have preferences for a particular product variant, such as a shoe of a given size. We assume that such consumers will switch to substitute, if inferior products if a sufficient discount is offered. When the cost of a retailer’s inventory is increasing in the number of variants (sizes) carried, we show that a manufacturer who attempts to induce competitive retailers to carry a particular size distribution will often fail if restricted to setting a wholesale price for each unit. Retailers that offer a less diverse assortment will be able to undercut fullline rivals. Consumers who prefer the sizes that continue to be carried benefit from lower prices but other consumers end up with inferior products and the manufacturer loses profits. The manufacturer’s response to the narrowing of the equilibrium size distribution will offset some of the benefits to customers for sizes still carried. The manufacturer can restore its preferred sized distribution either by absorbing the cost of retail inventories (through a policy of accepting returns of unsold goods or via vertical integration) or by preventing retailers offering only popular sizes from discounting to attract customers from other product variants that the customers would prefer if all prices were the same. We use our model to explain the narrowing of size assortments observed after the passage of the Consumer Goods Pricing Act of 1974. Our model also predicts that vertically integrated catalog merchandisers will offer larger assortments than store-based retailers. Finally, we analyze the attempt by Starter, a manufacturer of sports team apparel, to prevent sub-wholesaling of the company’s product lines. JEL Codes: L00 L42 L81 Contact Information: Howard P. Marvel James Peck Professor of Economics and Law Professor of Economics The Ohio State University The Ohio State University 1945 North High Street 1945 North High Street Columbus, Ohio 43210-1172 Columbus, Ohio 43210-1172 Phone: (614) 292-1020 Phone: (614) 292-0182 Fax: (614) 292-3906 Fax: (614) 292-3906 More than three-quarters of women and about two-thirds of men complain that stores simply don’t have their size in stock.1" @default.
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- W1567146152 title "Vertical Control, Retail Inventories & Product Variety" @default.
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