ABSTRACT
The retailing industry in the UK is experiencing unprecedented structural change. The impact on retailers has often dominated headlines, along with the impacts on local services and economies, but with little attention given to the implications for property owners and practitioners. Exploring and understanding the responsiveness of landlords, and their behaviours, is essential to understanding the adaptiveness of a retailing system. This study employs semi-structured interviews to examine the short- and long-term changes in the retail market and the actions of landlords in response. The findings span the period prior to and during the first year of the Covid-19 pandemic in 2020, and reveal that fundamental changes have occurred to establish tenant covenant norms and the traditional retail leasing model. The paper explores these changes, including a shift in tenant risk, reposition of the leasing model in favour of tenants, generally, and greater application of turnover rents. The pressing challenge for current valuation practitioners, therefore, is to incorporate these fundamental changes within the market into the pricing of retail assets. Significant progress in this area to date, as explored in the paper, has been limited although greater application of discounted cashflow techniques is set to be encouraged by the RICS.
ABSTRACT
The COVID-19 pandemic has affected the entire society in many aspects, and not only social. The pandemic had an impact on all the normal activities of human life, working conditions and more. The pandemic had a huge impact on changing social and personal preferences of individuals, economies and markets of all countries. Likewise, the pandemic has affected retailer markets, consumer behavior and basic customer attitudes across all business areas. This article focuses in particular on the changes in the retailer's market and basic customer attitudes due to the covid-19 pandemic. This article focuses in particular on the situation of retailers in the current market. Furthermore, the article also addresses to changes in approaches in the field of shopping with regard to the COVID-19 pandemic. (English) [ FROM AUTHOR]
ABSTRACT
Interest in retail seafood sales increased dramatically with the onset of the COVID-19 pandemic. The diversity of species, types of products, product forms, and packaging of the seafood sold at retail, combined with diverse consumer preferences across the United States, requires detailed data and analysis to provide guidance and understanding of emerging trends. Weekly, store-based, Nielsen Scantrack data for the period of September 2016 through August 2021 were used to compare trends in US retail (supermarket) seafood sales across the 5-year study period, in continental regions, cities, and species categories sold. Results showed continuous increases in retail seafood sales over the study period at an average annual growth rate of 8.1%, much of which was fueled by the 21% increase in total sales (19.5% increase in quantity sold) the first year after the onset of the pandemic. The South Atlantic region was found to have the greatest total sales and sales per capita among regions. New York City had the greatest total seafood sales, followed by Los Angeles and Philadelphia. The top five most important species categories in terms of sales were, in declining order, shrimp, salmon, tuna, crab, and tilapia, although regional variability became apparent from the fourth-ranked species. The most important package sizes were 454- and 907-g packs. Frozen and refrigerated categories dominated sales (70% in 2021), with little growth in entrees and a decline in market share of shelf-stable seafood products in 2021. Retail supermarket seafood sales increased dramatically following the onset of the pandemic, with especially notable percentage increases in lobster (77%) and crab sales (70%) and the lowest percentage increases in tuna (1%) and tilapia (13%). Given that US per capita seafood consumption did not show a corresponding increase over the study period, study results likely indicate a shift to greater relative consumption at home and not an overall increase in US seafood sales.
ABSTRACT
The use of biomass as an energy source has advanced in recent decades, given the scientific evidence that it is a solution to the environmental problems faced globally. In this context, biofuels derived from biomass have a prominent role. Among the countries where this alternative is the most promising, Brazil stands out, just behind the USA. It is, therefore, necessary to assess whether such a replacement is economically viable. For such an assessment, the behavior of the relative price of bioethanol/gasoline is crucial. In the present work, the degree of temporal persistence of relative prices, considering the existence of shocks to which they are exposed, is evaluated, considering 15 important Brazilian capitals, via the detrended fluctuation analysis (DFA). The degree of correlation is also evaluated through the detrended cross-correlation analysis (DCCA) between fuel prices in São Paulo, the capital of the most populous state and main producer of bioethanol, with the capitals of the 14 states selected for the analysis. The period of analysis takes place between 2004 and 2020. The use of DCCA with sliding windows was recently proposed and we also evaluate DFA dynamically in this way, and this, together with an extended sample in the context of Brazilian fuel prices, represents the main innovations of the present work. We found that the degree of persistence varies significantly depending on the capitals analyzed, which means that price variations are localized and demand regional stimulus policies. Furthermore, it was found that the correlation with São Paulo is less intense in the most geographically distant capitals. Such evidence is important and complementary to infer how integrated the national bioethanol market is, in order to support public policies aimed at its consolidation.