Today, most firms employ online and offline distribution channels. Customers combine both channels for information search and purchase. However, researchers and practitioners are still lacking insight concerning the creation of additional customer value, in terms of a seamless purchase...

Using Visa debit and credit card transactions in the U.S. from 2016 to 2019, we document the importance of customers in accounting for sales variation across merchants, across stores within retail chains, and over time for individual merchants and stores. Customers, as opposed to transactions...