Resilience of an evolved retail agglomeration: case of rural periodic markets in emerging economies

Abstract

Purpose – The objective of the study is to understand the reasons for the resilience of rural periodic markets. Small retailers patronise these markets, and by identifying the reasons for their continued market participation, an attempt has been made to explain the continued existence of these traditional evolved retail agglomerations. Design/methodology/approach – A qualitative research design was adopted for the study. Semi-structured interviews were conducted with 35 small retailers, and responses were used to identify the reasons for their continued market participation. A mix of purposeful and snowball sampling was used to select the respondents. Findings – In a novel endeavour, this study presents rural periodic markets as an evolved retail agglomeration. It identifies six factors responsible for the continued participation of small retailers in these markets. Seven attributes of the rural periodic market, an evolved retail agglomeration, were also identified which contribute to the resilience of these markets. Research limitations/implications – This study contributes to the literature on retail agglomerations and identifies the reasons for the continued market participation of small retailers, suggesting some trends about their future in emerging economies. Social implications – Rural periodic markets have affected the overall well-being of surrounding villages by providing opportunities to participate in many ways. This has been identified as a reason for the economic growth of the area. Originality/value – To the best of our knowledge, this is one of the first studies to explore the resilience of periodic markets from the perspective of small retailers by identifying the reasons for their continued market participation.