Dynamics in a Mature Industry: Entry, Exit, and Growth of Big-Box Grocery Retailers

摘要: This paper measures market dynamics within the U.S. grocery industry (defined as supermarket, supercenter, and club retailers). We find that despite being a mature industry, is remarkably dynamic. Each year retailers open or close roughly 7% of stores. also significant changes in size firms’ operations markets over time. These relative are largely result expansion contraction by incumbents rather than firm entry exit. In fact, exit quite rare, except small firms. Moreover, only do new entrants gain substantial share.