A TIME SERIES ANALYSIS OF CUSTOMER ATTENDANCE (A CASE STUDY OF SHOPRITE MALLS ENUGU)
Background of the study
Shoprite holdings are the fastest growing consumer goods (FCMG) retail platform operation on the African continent (especially in the southern African region) with operations in 15 countries (Adams 2007:34). Shoprite has a very simple philosophy: Provide all communities in Africa with food and household items in a first-world shopping environment, at the Group’s lowest possible prices.At Shoprite, their mission statement which entails bringing to their teeming customer base low prices on the best product. Since opening their first store in Lagos in December 2005, they have since then launched an additional twelve stores across eight states in the Federation including the Federal Capital Territory (FCT), Abuja, employing 1860 people, of which 99.5% are Nigerian citizens. Shoprite has built relationship with over 250 leading Nigerian suppliers, small businesses and farmers, securing a wide assortment of local brands( Hazel 2013: 45).
Shoprite is the leading retailer store across Africa and it is one of the famous brand name choices for many product consumers across Nigeria as well as African continent store in Polo Park Amusement Centre, Enugu North, Enugu, Nigeria. They offer the huge range of products with quality and standards of freshness as well as maintaining the lowest prices.
Community upliftmentis of utmost importance to Shoprite and through their “Shoprite Community Network” campaigns; they have been able to enrich the lives of many less privileged children and youths within and outside Nigeria. Since its inception, Shoprite has been able to assist various orphanages and foundations across Nigeria.
Statement of the general problem
Though ShopRite holdings being noted for its steady rise in the retail sector in Africa, the need for adequate planning and more profitability has necessitated this study. Firms generally in Nigeria pay less attention on the frequency of customer attendance and this has inhibited their growth due to inadequate planning and strategizing.
Objectives of the study
The following are the aims and objectives of the study
Significance of the study
The cardinal significance of this study is to educate firms and companies on the need to take adequate customer attendance and its importance in improving profitability and also to enhanceadequate market research and planning. Another importance of this study is to predict future customer attendance from past customer attendance records.
H0: there is no relationship between customer attendance and adequate market planning.
H1: there is a relationship between customer attendance and adequate market planning.
Scope of the study
The scope of this study on the statistical analysis of customer attendance using the ShopRite malls Enugu as a case study.
Definition of terms
Braham, B. and Ledolter, J. (1983). Statistical Methods for Forecasting, Wiley, New York, NY.
Box, G. E. P., Jenkins, G. M., and Hazel, G. C. (2004). Time Series Analysis, Forecasting and Control, 3rd ed. Prentice Hall, Englewood Clifs, NJ.
Box, G. E. P. and McGregor, J. F. (1999). “The Analysis of Closed-Loop Dynamic Stochastic Systems”, Technometrics, Vol. 16-3.
Brockwell, Peter J. and Davis, Richard A. (1987). Time Series: Theory and Methods, Springer-Verlang.
Brockwell, Peter J. and Davis, Richard A. (2002). Introduction to Time Series and Forecasting, 2nd. ed., Springer-Verlang.
Chatfield, C. (1996). The Analysis of Time Series, 5th ed., Chapman & Hall, New York, NY.
DeLurgio, S. A. (1998). Forecasting Principles and Applications, Irwin McGraw-Hill, Boston, MA.
Ljung, G. and Box, G. (1978). “On a Measure of Lack of Fit in Time Series Models”, Biometrika, 65, 297-303.
Nelson, C. R. (1973). Applied Time Series Analysis for Managerial Forecasting, Holden-Day, Boca-Raton, FL.
Makradakis, S., Wheelwright, S. C. and McGhee, V. E. (1983). Forecasting: Methods and Applications, 2nd ed., Wiley, New York, NY.