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Mihal Stoyanov
Impact of the Covid-19 Pandemic on the Retail Trade in Bulgaria
Summary:
This paper reviews the reaction of retail trade in the Republic of Bulgaria and around the world as a consequence of the declaration of a state of emergency related to the spread of COVID-19 virus infection. The actions of the trade operators regarding the various changes in the behavior of the consumers and the establishment of standards for work are systematized, in accordance with the measures for anti-epidemic control taken by the local and national bodies, the recommendations of the European Commission and the World Health Organization. The unpredictable development of the global epidemiological situation has brought new challenges to address the emergency situation and to create standards and protocols for working under conditions of increased requirements for social distance, hygiene and disinfection. The established measures put retailers in the first line of protection in the unprecedented health crisis of our time.
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Violeta Dimitrova
Retail Enterprise Bargain Power
Summary:
The changes in the bargain power of traders are a result from the rising levels of concentration in the retail sector by increasing the area of physical outlets, the concentration of electronic stores and the establishment of retail chains, as well as by accelerating the processes of merging, buying-up, and implementing own brands. Subject of research is the bargain power of retailers at negotiations with suppliers. The concepts ‘market power’ and ‘bargain power’ of retailers as buyers are clarified. A review is made of the theory on the power of retailers within the chain of selling consumer goods. The study is on the changes in the concentration of retail trade in Bulgaria and the bargain power of the latter in negotiations, measured by the level of gross margins.
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Mihal Stoyanov, Desislava Grozdeva
Mobile Internet Commerce as a Form of Fluid Commerce
Summary:
Mobile commerce is a form of non-store retail trade that furthers the development of e-commerce through its implementation using portable smart devices with Internet access. Evolutionary emergence of mobile commerce is a tool of expanding opportunities for the implementation of commerce in the desired user location and time.
It stands out as a fluid, highly adaptable and highly personalized form of commerce, modern and efficient mechanism for selling products in global markets, which solves some of the current shortcomings of e-commerce, basically the possibility of completely autonomous and independent of physical fixed hardware to exchange in the preferred location for the virtual exchange.
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Nadezhda Dimova
Pop-Up Shops - the New Trend in Retail
Summary:
New trends in retail impose new paradigms and new challenges not only on marketing activity but also on business successes of companies as a whole. Sometimes online sales are not enough to meet consumer needs. A new strategic approach lies in the creation of the pop up shops. They are new, interesting, evoke emotions, create consumers a sense of expressiveness and urgency of the purchase, and at the same time provide good profits to companies that risk creating them. Only the future will show how successful the combination of traditional retail and pop stores are.
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Mariyana Bozhinova, Petranka Midova, Simeonka Petrova, Ventsislav Perkov, Mariana Kuteva
Development and Competitiveness of Retail Chains in Bulgaria
Summary:
The development of commercial chains in Bulgaria was caused by the benefits they provide to customers. In the last two - three years there is strong interest of foreign retail chains to the Bulgarian market. National chains, in turn, expand its network of stores in various cities throughout the country, and some of them even think of expansion abroad.
The survival and the development of the commercial chains in a market with strong competition is connected with the identification and the use of sources of competition advantages as well as the permanent evaluation and analysis of their competitiveness – a subject of research in this work. Based on this conclusions are drawn and recommendations are made for increasing the competitiveness of the commercial chains.
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Mariana Kuteva
Theoretical and Practical Aspects of Omnichannel Retailing
Summary:
This article focuses on the essence of omnichannel retailing. The author explains the benefits of omnichannel retailing from the viewpoint of the consumers and from the viewpoint of the retailers. The claim is supported that the integration of „brick and mortar” and digital channels to reach end customers as a retail development strategy favors maintaining stable competitive positions on the market and putting new competitive advantages.
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Andrey Zahariev, Stefan Stanimirov, Nikolay Todorov Zdravkov
Managerial Financial Model of an Insurance Broker in Bulgaria - Methodological and Applied Aspects
Summary:
The object of research are the insurance brokers in Bulgaria, and its subject is the methodological framework for building a management financial model of an insurance broker in Bulgaria. The leading thesis in the present study is based on the statement that the optimal financial management of a brokerage company in the insurance sector in Bulgaria requires the construction of a complex model based on the control of the financial value of the company, which allows to compare the attractiveness of various business lines, through which to develop those of them, bringing the greatest increase in the value of the company. The purpose of the development is to justify a methodological framework for building a comprehensive financial management model based on the control of the financial value of the company, which allows by forecasting the benefits and costs to compare the attractiveness of different business lines for development and expansion. The focus is on gross premium income from corporate insurance and retail brokerage. As a result of the research, forecast values for the period 2019-2023 are generated, first the exogenous variables are predicted, and on their basis - the main target variables. The constructed model has an extremely high descriptive ability - as for the historical period the two curves - with real reporting data and the modelled one - practically coincide. On this basis, the forecast part can be considered relevant for the purposes of the management financial model. Similar results are achieved in the modelling and forecasting of retail premiums, which is the basis of the insurance broker's profit.
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Borislav Atanasov
Fragmentary Analysis of the Market of Fast-Moving Consumer Goods in Bulgaria
Summary:
For its purpose, the fast-moving consumer goods satisfy mainly the basic needs, and unlike the consumer durables, distinguish with relatively high frequency of consumption. Based on data of the National Statistical Institute, the change of retail sales for the period 2010-2018, the average expenditures of the households for purchasing of foods, the change of number of retail sales premises - for the country and statistical regions, the change of number of retail sales premises of the leading trade chains selling fast-moving consumer goods are presented in the article. On the basis of the author’s own researches of the consumer’s behaviour when they purchase fast-moving consumer goods, a comparative analysis through one-dimensional frequency distributions is made and trends of consumers’ behaviour during the purchase are brought out.
