Research On The Impact Of Double Channel Development On The Performance Of Listed Retail Corporations

The development and popularization of Internet technology has given rise to the commercialization of all walks of life.In recent years,due to the impact of online retailing,sales of traditional retailers and operating profit have been on the downward trend,and their overall corporate performance has slowed down.Under such circumstances,the traditional retail companies have adopted the online and offline dual channel development model in the hope of breaking the bottleneck of the Internet era.In theory,compared to the traditional physical retail channels,online-offline dual channel development model has more advantages.The introduction of online channels,on the one hand,can reduce the company's operating costs,such as physical storefront leasing,layout costs,personnel costs,inventory costs and so on,to achieve the expansion of the market to increase operating income purposes;the other hand,it can also easily and efficiently meet consumer spending habits,improve market flexibility,reduce inventory,improve market transaction efficiency,so as to achieve corporate performance improvement.As a foundation and support for online channels,offline channels provide an experience place for online channels.Meanwhile,online channels can also use technological advantages to explore consumer demand,summarize consumer characteristics,support offline channels and provide directions for offline channels,Both their advantages and disadvantages complement each other,so as to achieve the expansion of market size and improve business performance.Although,in theory,dual channel strategy has become a trend,the impact of dual channel strategy on traditional retail companies and its influencing factors are still limited in empirical studies.What are the main influencing factors of the performance of listed retail companies by dual channels and how to develop dual channels and from which aspects to develop dual channels,these should be further studied and demonstrated.In order to further explore the impact of dual channel development on the performance of Chinese listed retail companies and to make recommendations for the development of Chinese retail companies,a combination of theoretical and empirical methods based on channel input perspective is to carry out research in this paper.In theory,the concept of dual channel development is expatiated.Relevant theories such as channel structure theory and network economic theory are reviewed.Meanwhile,research hypotheses are proposed and the research mechanism of the dissertation is summarized.In the empirical aspect,taking Chinese listed retail companies as a sample,I select the input-output index and use DEA model to evaluate its comprehensive technical efficiency,pure technical efficiency and scale efficiency from 2014 to 2016.Then,I compare and analyze the performance changes of dual channel companies and single-channel companies.On the basis of clear performance difference,a Tobit model is established,focusing on the influencing factors of dual channel corporate performance and verifying assumptions.The results show that among the factors of dual channels considered in this paper,the technical input level and operation management level of retail companies can significantly affect the company performance level,R&D expenditure,R&D personnel input,inventory turnover rate and total asset turnover rate are positively correlated with the performance of dual-channel companies relationship.In addition,salary incentives are also significantly related to the company's performance level.The higher executive pay,the higher the performance level,the more unpaid salaries for employees,the lower the company's performance.To sum up,listed retail companies should pay attention to the development of dual-channel strategy,technical innovation and management innovation from two aspects,to speed up the integration of dual channels to explore their own dual-channel development model,while focusing on the implementation of talent introduction strategy to create and exert human resources advantages.