Preisbildung und Preisreaktionen im Naturkosteinzelhandel - Eine Untersuchung an Biomilchprodukten anhand von Preiselastizitäten, Preisrigiditäten, Preissynchronisation und Preistransmission

Abstract

In this thesis pricing and price reactions in organic retail stores have been studied on the basis of an extensive scanner dataset from 2005 to 2009. Therefore price elasticity, price rigidities, price synchronization and price transmission in the supply chain for milk products have been analysed. In the estimations consumers on product level react relativly inelastic with an own price elasticity of circa -1. Thus, there is a wide scope for price policy. Besides, there are psychological price barriers and exceeding results in a decline in sales. Prices in organic retail stores are very rigid especially for long-time price changes. This implies a cautious pricing policy. Organic supermarkets launch special offers of similar frequency as conventional grocery stores. Small organic stores are more cautious but, on a daily basis, they are moreflexible in their price changing strategy. The synchronisation analysis shows compared to conventional stores that price changes often occursimultaneously. Especially in times of rising prices, most of the changes take place within one week. This could either refer to peacefull pricing policies based on a common agreement on rising price tendencies or to strong competition within the sector. Overall, a peacefull pricing is more valide. The combination of product-related findings shows correlations between price synchronization, price elasticity, price rigidities, price level, market shares und trade brands. There is evidence that organic stores run a low-price product segment with a special pricing policy, comparable to conventional supermarkets. Furthermore, the analysis of price transmission shows that price changes originate from the conventional milk market and are carried over to the organic market. Then, the price impulse circulates upstream along the supply chain. The estimations support the thesis of percental margins. Thus, the trade margins of the traders rise with higher prices. However, fast decreasing of retail prices during the phase of falling row material prices could not be observed. At least, there is evidence for a strong market position in the supply chain for traders and a peaceful pricing in organic retail.