Study of competitive advantages of retail company in Lithuania

Abstract

Competitive advantages of retail companies in Lithuania becoming popular in XXI age. Competitive advantages of retail companies are becoming popular not only in small organisations with a small budget, but also big retail companies. This article was devoted to examining the literature related to competitive advantage and conducting an empirical study in a retail company. The literature reviewed shows that a competitive advantage is one that is difficult to copy for competitors. The problematic question is what are the competitive advantages of retail companies that are important in retail. Thus, the current situation causes a problem because the concept of competitive advantages of retail companies is not established in the scientific literature. Purpose is to investigate competitive advantage in retail market companies. Objectives of the study: to analyse the theoretical aspects of the concept of competitive advantages, to examine competitive advantages indicators, to survey competitive advantages in retail market company Lithuania. The paper relies on scientific literature analysis and survey research. The study encompasses theoretical literature analysis, survey as well as comparative analysis. Competitive advantage – this is called a strategic advantage, which must be such that it can be used for as long as possible. This advantage allows for higher-than-average revenues and strong market positions. It is important to mention that it is not acquired once and for all. It is almost always lost after a certain period of time. The Pearson chi-square test helps to assess the presence or absence of a statistical relationship between the indications studied. H1: Is there a relationship between a significant and meaningful link between the customer’s reputation and the company’s reputation? α – significance level chosen in this case 0.05. After calculating the Pearson’s correlation coefficient, it was found that the level of significance of the observation (p-level) = 0.047, where 0.047 < 0.05. It can be argued that there is a significant and meaningful link between the favourite customer feedback about the company and the company’s reputation. For a deeper analysis, Hypothesis H2 was tested by calculating the Pearson correlation coefficient, where α = 0.05. H2: there is a significant and meaningful connection between service – help, advice, fast and accurate information and level of security, guarantees. Calculations showed that the significance level of the observation (p-level) = 0.028, where 0.028 < 0.05.