THE ROLE OF RETAILING BUSINESS IN THE DEVELOPMENT OF NIGERIA ECONOMY (A CASE STUDY OF CITY GIFT SUPERMARKET ENUGU)
This research was conducted to investigate the problems militating against retailing institutions in Nigeria with emphasis on City Gift Supermarket, Enugu.
The problem investigated are competitions inferior goods, high rate, inefficient shop keeping and mismanagement of funds, poor merchandise planning inadequate control system and high price of goods and insurance of price changes.
The method of investigation adopted were interview and questionnaires, for collecting primary data and information for the study. Secondary sources were also collected for secondary data and information chi-square (X2) method of the data analysis and significance testing was used while percentage were described by the data collected.
The result of the findings is that a retailing business of City Gift Supermarket, Enugu has not been operating with satisfactory profit due to mismanagement problems and many other reasons. The conditions needed is that most retailing establishment including, City Gift Supermarket, Enugu in Nigeria has problems and losses due to mismanagement, high process, poor merchandising planning and inefficient shop-keeper. The following recommendations were being made to ameliorate the condition of City Gift Supermarket.
Finally, they should employ efficient personnel to keep and manage the merchadise so as to plan and control adequately.
Their prices should be reviewed from time to time to be in consonance with market price and also confortable arrangement will be made for customers shopping. This is not all, high quality goods should be stocked so that customers will contain a required loyalty for the shop. The shop should also operate less tender pricing to more customers.
Goods should also be fancifully displayed so that window stopper will become the actual buyers.
Above all there should be a good persuasive in house salesperson who can use persuasive tactice to achieve volume sales for City Gift Supermarket, Enugu.
Retailing is the final link between producers of goods and services and the ultimate consumers. Retailing is the last stage in the distribution of goods and services, the earliest retailing activity could be seen from the European craftsman and those people that produces what they gold to the users, craftsman could be gold smiths, silversmiths and tailors, the traveling merchants made the development between European and other outside countries by carrying goods from place to place according to needs. As the traveling merchants move on, they operate their trading activities.
As marketing stated to play essential roles in industrial activities, they come up with what is regarded as general stores. The general stores stocked so many types of products and they are some how enlarging their stock.
At a time, they need some helpers of marketing activities and those include transportation, communication, banking activities and system with helper of trade, the retailing establishment experienced.