Abstract
Adoption of third-party channels for last mile delivery has been a significant change for retail firms. Despite the volume of work in this space, how last-mile delivery partnerships impact a retail firm’s financial valuation has received little attention. Adopting a resource-based view, we explore how third-party delivery firms add value through their unique capabilities. Results from an event study reveal that, on average, third-party delivery partnerships improve firm performance. However, subsequent analysis reveals that firms do not equally benefit from these partnerships. In particular, the density of firms’ presence in the marketplace and retailers’ level of service provision can affect the relative benefit of third-party partnerships.
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