Glossary
Fixed retail price (FRP):
Parallel import restrictions (PIRs):
is defined as ‘a vertical restraint whereby upstream manufactures limit the ability of downstream retailers to set their own pricing policies for a product’; which is to say, publishers set the retail price of books that retailers are legally restricted from discounting beyond a prescribed margin. These mechanisms are designed to stabilise pricing, protect independent booksellers, and support literary diversity by limiting aggressive pricing competition.
A very tall, fast-growing grass with hard, hollow woody stems.