Emerging economies have traits that distinguish them from developed economies. These include (1) distribution channels involving a large number of traditional fragmented stores competing with emergent chain stores, (2) rapid urbanization and the movement of population from rural to urban areas, (3) poor transportation/internet infrastructure and media penetration leading to challenges faced by CPG firms in distribution and consumers in purchasing, and (4) regulation mandating CPG firms to print the maximum product price on the product package. We investigate how these traits endemic to emerging economies impact a CPG firm’s product sales and profitability and the implications. While product sales increased over time in the chain stores (the MTO channel) at all price levels, they barely rose in the traditional channel. On the other hand, product profitability for low-priced products increased over time in the traditional channel and fell in the MTO channel. Further, the CPG firms’ product sales over time in both channels were ordered per the population of the city tier. However, while the product profitability in the traditional channel rose at the same pace in all city tiers, that in the MTO channel fell in the medium-sized cities.

中文翻译：

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新兴经济体零售业独特特征的实证研究：消费品制造商的视角

新兴经济体具有区别于发达经济体的特征。其中包括（1）涉及大量传统分散商店与新兴连锁店竞争的分销渠道，（2）快速城市化和人口从农村向城市地区的流动，（3）交通/互联网基础设施和媒体渗透率低下导致CPG企业在分销和消费者购买方面面临的挑战；（4）监管要求CPG企业在产品包装上印制最高产品价格。我们研究新兴经济体特有的这些特征如何影响消费品公司的产品销售和盈利能力及其影响。虽然连锁店（MTO 渠道）所有价格水平的产品销量随着时间的推移而增加，但传统渠道的销量几乎没有增长。另一方面，低价产品的产品盈利能力在传统渠道中随着时间的推移而增加，而在MTO渠道中则下降。此外，消费品公司在两个渠道中随时间的产品销售情况是根据城市层的人口进行排序的。然而，各线城市传统渠道产品盈利能力同步增长，而MTO渠道产品盈利能力在中等城市有所下降。