Household savings--论文代写范文精选

我们如何衡量这些，促销信息从各种各样的来源,促销活动通常采取两种形式:价格促销和数量促销。为了比较大范围的食物类型，我们看看价格变化。下面的paper代写范文进行详述。

Abstract
The data come from the TNS Homescan panel (www.tnsofres.com), a representative consumer panel of around 25,000 households resident in Great Britain. Households are recruited from those who had previously responded to a large paper-based consumer survey. Respondents that match the demographic characteristics required for a new household are sent a postal invitation to participate. Participants are rewarded with points redeemable for a range of products and services (though limited to items that should not directly affect grocery consumption patterns). Participating households are issued an electronic hand held scanner in their homes and asked to scan the barcodes of all grocery purchases (foodstuffs, alcohol, bathroom products, medicines, pet food etc.) that come into the house.

Information on purchases is downloaded once a week by TNS. In addition, households mail till receipts to TNS. These are used to collect prices and verify the information entered by the households. Information on loose weight items such as vegetables and fruit is collected by households scanning barcodes in a book and keying in the weight data. Purchases from all store types (supermarkets, corner stores, online, local speciality shops etc.) are covered by the survey. For larger stores, the exact store of purchase is recorded; for smaller stores only the store type is known. The data includes information on the characteristics of the product including price, brand, pack size, whether the item was bought on promotion and a number of characteristics of the product. Demographic information about the household is collected by an annually-updated telephone survey.

Our focus in this paper is on four particular types of behaviour - sales, size, generic and outlet. How do we measure each of these? TNS gathers information on price reductions and promotions from a variety of sources, including the receipts sent in by households, fieldwork, and directly from the stores. Promotions typically take two forms: price promotions (50% off, £1 off) and quantity promotions (buy one get one free, 50% extra volume). Package size is reported directly in the data on product characteristics. In order to compare across a wide range of food types we look at how price varies across the quintiles of the package size distribution within each food category. Generic (store) brands are also recorded directly as part of the product characteristic information. 

The detail allows us to distinguish “economy” versions of generic items from “regular” generics and “luxury” generics. We discuss this more in the next section. Information on stores is collected via the households, who scan a barcode representing each store fasica prior to entering the details of each shopping trip. Households report to TNS the specific store when they sign up (and for most large shopping trips) and this is matched against the fascia barcode scanned for each trip. For corner and local stores, the specific shop location is typically not recorded. For the analysis below, we use data for the calendar year 2006. We observe expenditure for 23,877 households on purchases in 189 categories, effectively covering all food and beverage purchases. These households make a total of 5.6 million separate shopping trips. On average a single shopping trip involves the purchase of 4.2 items and £6.08 in expenditure. The average duration between shopping trips (excluding multiple trips within the same day) is 4 days (with a median of 3 days).

Income information began to be collected by the market research firm in 2006 and in our data around one-third of households have not had their incomes recorded. For other households, incomes are recorded gross at a household level in one of eight bands. The distribution of income in these data are similar to those found in other UK surveys, for example, UK Expenditure and Food Survey (EFS), although overall average income is slightly lower.4 Household type is defined using information on each of the household members, and here we also see similar to patterns to EFS data for the percentage of households with at least onechild, although the market research data does seem to contains somewhat fewer households headed by a pensioner and fewer single adult households.

Household savings 
In this section we quantify the savings that households can and do make by purchasing on sale, buying in bulk (at a lower per unit price), buying generic brands and choosing outlets. We document the relative importance of these various dimensions, which may suggest where future work on price indices should focus efforts. One measure of the importance of the different dimensions is the amount saved by households from each dimension, ignoring the costs they may incur. For example, how much more would consumers have paid had they not purchased on sale, ignoring the costs of carrying inventory from one period to the next? Another important dimension is the degree of heterogeneity across households in any particular behaviour. We discuss the potential biases that may arise in a price index due to consumer behaviour.

Sales and Stockpiling 
Many grocery items exhibit price variation over time. If we focus on a narrowly defined product (a particular brand and size sold at a particular store), much of the price variation over time is due to temporary price reductions. It has been documented that for many products consumers respond to this price pattern by stockpiling for future consumption (see Hendel and Nevo 2006a, Boizot et al (2001) and references therein). When buying on sale a consumer faces a tradeoff between paying a lower price today for a product that will be consumed in the future, and incurring a storage cost until the product is consumed. The benefits from buying on sale depend on future consumption needs and on futureprices. Different consumers will make different choices, and a given consumer will make different choices for different goods. In the following subsections we present evidence on heterogeneity across consumers in the propensity to purchase on sale. We then provide measures of the savings consumers obtain and use these to motivate the importance of controlling for this dimension of consumer choice. Finally, we discuss the implications for measurement of price changes.

How much do households buy on sale? 
The average UK household spends around 29.5% of their total annual expenditure on items that are “on sale.” As expected, there is considerable variation across households (see Figure 1), with the household at the 10th percentile purchasing 17.7% and the 90th percentile purchasing 42.0%.Some of the variation across households is explained by observed demographics. In particular, when we regress the share of expenditure on sales on family type we see that retired households tend to buy less on sale (single pensioners buy 3.2% less on sale than single young households, while pensioner couples buy 2.9% less on sale than young childless couples, and over 5% less than couples with children). Families with children tend to buy more on sale than childless families and households with fewer adults. Households that shop by car buy approximately 2% more of their food on sale than households that shop by public transport or on foot, or that shop less frequently by car. This is consistent with pensioners buying less on sale since they are less likely to shop by car.(paper代写)

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