Research on the Impact of Digital Transformation on the Economic Performance of Retail Enterprises

随着数字化技术不断纵深发展，个性化、动态化发展的消费需求要求零售企业推进数字化转型以构筑数字化发展高地，提升市场竞争优势。本研究基于2014~2023年中国A股零售业上市公司数据，采用固定效应模型实证检验数字化转型对零售企业经济绩效的影响，同时从所有制角度分析这种影响的异质性。研究发现：(1) 数字化转型显著提升零售企业经济绩效，该结论在多种稳健性检验下仍然成立；(2) 所有制角度的异质性分析表明，数字化转型对非国有性质零售企业经济绩效具有更显著的正向影响，而对国有性质零售企业影响不显著。本研究为零售企业数字化转型提供了理论依据，建议零售企业积极推动数字化转型以提升企业经济绩效，同时分类施策，国有企业应深化改革畅通数字化转型路径，非国有企业可发挥灵活优势不断深化数字化转型，释放经济绩效增长潜能。With the continuous in-depth development of digital technology, the personalized and dynamic consumer demands require retail enterprises to promote digital transformation to build a digital development highland and enhance their competitive edge in the market. Based on the data of listed retail companies in China’s A-share market from 2014 to 2023, this study empirically examines the impact of digital transformation on the economic performance of retail enterprises using a fixed-effect model, and simultaneously analyzes the heterogeneity of this impact from the perspective of ownership. The research findings are as follows: (1) Digital transformation significantly enhances the economic performance of retail enterprises, and this conclusion still holds under various robustness tests; (2) Heterogeneity analysis from the perspective of ownership indicates that digital transformation has a more significant positive impact on the economic performance of non-state-owned retail enterprises, while the impact on state-owned retail enterprises is not significant. This study provides a theoretical basis for the digital transformation of retail enterprises. It is suggested that retail enterprises actively promote digital transformation to enhance their economic performance. At the same time, classified policies should be adopted. State-owned enterprises should deepen reforms to smooth the path of digital transformation, while non-state-owned enterprises can leverage their flexible advantages to continuously deepen digital transformation and release the potential for economic performance growth.