Facing　competition　from　manufacturers＇　online　direct　channels,　how　retailers　make　sales　channel　decisions　to　increase　consumer　stickiness　has　become　the　core　concern　of　the　industry　and　academia.　Empirical　research　showed　that　delivery　lead　time　is　a　key　factor　that　affects　consumers＇　preference　for　online　channels.　To　analyze　the　impact　of　consumer　delivery　time　preference　on　channel　selection　and　pricing　strategy　of　retailers,　consumer　delivery　lead　time　preference　function　was　improved　from　a　linear　function　to　an　exponential　function　and　consumer　demand　under　the　mixed　dual-channel　supply　chain　of　manufacturer　and　retailer　was　derived.　Then,　the　Stackelberg　game　models　under　different　channel　strategies　of　retailer　were　established　and　solved.　Results　show　that　consumer　preference　for　delivery　lead　time　has　four　implications　on　the　channel　decision　of　retailers　under　manufacturer　encroachment　in　the　dual-channel　supply　chain.　First,　the　dual　retail　channels　strategy　is　the　optimal　choice　for　retailers,　and　the　profit　margins　that　a　retailer　obtains　from　dual　retail　channels　supply　chain　and　single　online　retail　channel　supply　chain　will　increase　as　consumers＇　delivery　lead　time　preference　coefficient　increases.　Second,　the　optimal　pricing　of　online　retail　channel　and　offline　retail　channel　is　positively　related　to　consumers＇　delivery　lead　time　preference　coefficient.　By　contrast,　the　optimal　pricing　of　online　direct　channel　is　negatively　related　to　consumers＇　delivery　lead　time　preference　coefficient.　Third,　the　optimal　pricing　of　online　retail　channel　is　higher　than　that　of　offline　retail　and　online　direct　channels.　Fourth,　a　retailer　and　a　manufacturer　can　adopt　a　compensation-based　whole　price　contract　to　address　the　conflict　brought　about　by　the　optimal　channel　choice　of　the　retailer.　This　study　introduces　consumer　delivery　lead　time　preference　into　retailer　channel　decision　making　and　provides　a　theoretical　reference　for　retailer＇s　mixed　channel　construction　in　practice.　(C)　2020　CPE,　University　of　Maribor.　All　rights　reserved.