讲座题目：Stores Going Online: Market Expansion or Cannibalization?（当商业转向线上：市场扩张还是自我蚕食？）

主讲人：李晨杨 香港科技大学（广州）

讲座时间：2024年5月23日15:30

讲座地点：学院440

讲座内容摘要：

With the continual growth of e-commerce, many brands have opened up online sales channels alongside their traditional brick-and-mortar (B&M) stores. Consumers usually incur lower shopping costs from purchasing online, so the presence of an online store tends to cannibalize sales of the corresponding B&M store. However, online sales may expand the market for the B&M store by increasing consumer awareness of the brand and transmitting product information. We use a unique dataset of 308 B&M stores matched with their online stores on Taobao to investigate the two countervailing effects. We utilize bad weather days offline-exclusive demand shocks to identify the (negative) cannibalization effect of online sales on B\&M stores. We use online shopping festival as online-exclusive demand shocks to identify the (positive) informative effect. Our findings reveal that categories of shoes, clothing, cosmetics, and toy suffer the most from the opening of online stores, while jewelry and personal care stores are benefiting from online opening. Based on survey data, we find the discounted price difference and inspection cost are the main mechanisms behind these heterogeneous results. Our study unveils the complex relationship between online and offline sales and offers insights into the strategies and operations of store managers and shopping malls in the digital age.

随着电子商务的持续增长，许多品牌在传统的实体商店之外开设了在线销售渠道。消费者通常从在线购物中获得较低的购物成本，因此在线商店的存在往往会蚕食相应实体店的销售。然而，在线销售可能通过增加消费者对品牌的认知和传递产品信息来扩大实体店的市场。我们使用一个独特的数据集，包括308个实体店及其在淘宝上的在线店铺，来研究这两种相反的效应。我们利用线下独有的需求冲击（恶劣天气日）来识别在线销售对实体店的（负面）竞争效应。我们使用在线购物节作为在线独有的需求冲击来识别（积极的）信息效应。我们的研究发现，鞋类、服装、化妆品和玩具类目最受在线店铺开设的影响，而珠宝和个人护理店铺则从在线开店中受益。基于调查数据，我们发现折扣价格差异和检查成本是这些异质结果背后的主要机制。我们的研究揭示了在线与线下销售之间复杂的关系，并为数字时代的店铺经理和购物中心的策略和运营提供了洞见。

主讲人学术简介：

李晨杨，2023年获美国康奈尔大学经济学博士学位，现为香港科技大学（广州）创新政策与企业家精神推进部的助理教授，主要研究领域为产业组织、平台与数字经济、博弈论与网络理论等。其研究涵盖了理论与实证两个方面，包括通信网络结构对集体行动成功的影响、在线平台的定价策略以及线上与线下业务模式之间的动态等。