BAUEROVÁ, Radka, Halina STARZYCZNÁ and Tomáš PRAŽÁK. At what lag should economic indicators be applied to predict sales in a transformed economy? Is it worthwhile when e-tailing? Forum Scientiae Oeconomia. Dąbrowa Górnicza: Faculty of Applied Sciences of WSB University, Dąbrowa Górnicza, 2022, roč. 10, No 4, p. 29-46. ISSN 2300-5947. Available from: https://dx.doi.org/10.23762/FSO_VOL10_NO4_2.
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Basic information
Original name At what lag should economic indicators be applied to predict sales in a transformed economy? Is it worthwhile when e-tailing?
Authors BAUEROVÁ, Radka (203 Czech Republic, guarantor, belonging to the institution), Halina STARZYCZNÁ (203 Czech Republic, belonging to the institution) and Tomáš PRAŽÁK (203 Czech Republic, belonging to the institution).
Edition Forum Scientiae Oeconomia, Dąbrowa Górnicza, Faculty of Applied Sciences of WSB University, Dąbrowa Górnicza, 2022, 2300-5947.
Other information
Original language English
Type of outcome Article in a journal
Field of Study 50202 Applied Economics, Econometrics
Country of publisher Poland
Confidentiality degree is not subject to a state or trade secret
WWW Odkaz na webovou stránku, ze které je dostupný plný text článku
RIV identification code RIV/47813059:19520/22:A0000349
Organization unit School of Business Administration in Karvina
Doi http://dx.doi.org/10.23762/FSO_VOL10_NO4_2
Keywords in English transformed economies; retail industry; retail sales; economic indicators; cointegration
Tags Reviewed
Changed by Changed by: Ing. Radka Bauerová, Ph.D., učo 32908. Changed: 30/12/2022 14:39.
Abstract
Making strategic decisions in retailing is associated with an-alysing sales development, which can indicate the current trends in consumer demand. Determining retail sales indi-cators is a valuable step towards better prediction and helps to make strategic decisions more realistic. However, the ques-tion is to what extent the general assumption of profitability of using retail sales indicators can be applied in the case of a transformed economy. This paper aims to provide informa-tion on the possibility of using selected economic indicators to predict sales in the environment of a transformed economy. The paper analyses the joint time series development of retail sales in the Czech Republic. The Johansen cointegration test has been performed to determine whether retail sales show long-term cointegration with the set of selected indicators. The results establish GDP, total employment, gross wage, and consumer data as leading indicators of retail sales at different levels of delays. In contrast, in the case of online retail sales, no significant influence of the observed factors has been found. The findings suggest that if managers choose to plan their online retail processes based on retail sales estimates, they must respond to changes in these indicators much faster than managers in off line environments.
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