The impact of JUUL market entry on cigarette sales: evidence from a major chain retailer in Canada

Table 6 Impact of JUUL market entry on store-level cigarette volume sales with unbalanced panel

Monthly cigarettes volume sales	(1)	(2)	(3)	(4)	(5)	(6)
Monthly cigarettes volume sales	Log-dummy entry	Log-dummy entry, Urban	Level-dummy entry	Level-dummy entry, Urban	Level-linear growth	Level-linear growth, Urban
Monthly average (09/2017–08/2018)			732.0	719.4	732.0	719.4
City JUUL Entry	− 0.0210**	− 0.0376***	− 9.983**	− 18.56***
City JUUL Entry	(0.00840)	(0.0122)	(4.710)	(5.689)
Linear Growth after JUUL Entry					− 12.86***	− 26.85***
Linear Growth after JUUL Entry					(4.190)	(5.491)
Observations	19,764	13,893	19,764	13,893	19,764	13,893
Adjusted R²	0.951	0.956	0.948	0.953	0.948	0.954
Store FE	Yes	Yes	Yes	Yes	Yes	Yes
Year-month FE	Yes	Yes	Yes	Yes	Yes	Yes
Other controls	Yes	Yes	Yes	Yes	Yes	Yes

***p < 0.01, **p < 0.05, *p < 0.1
Year-month fixed effects (FE) are unique for each year and month. A total of 32 year-month fixed effects were included in the regressions. Control variables for local temperature, gasoline price, CPI, and unemployment rate were included in the regressions but omitted in the table. Robust errors for coefficient estimates were clustered at the store level. The dataset, used in Columns (1), (3), and (5), included 625 stores in 159 cities and towns from five provinces including Ontario. The urban specifications Columns (2), (4), and (6) included 440 stores that are located in large urban areas, for instance, Toronto, ON. The analysis used observations from January 2017 to August 2019

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