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Fresh Produce Retail Price Comparisons in Trinidad and Tobago
29-34Views:252As the competitive landscape of the food and grocery retailing sector in Trinidad and Tobago is being transformed and consumers are separated from producers, shoppers are more reliant on price/quality cues in making their purchase decisions. The purpose of this study is to identify the retail outlet with the lowest and or highest price for a selected number of fresh produce items, in an effort to direct shoppers to relatively cheap nutritious sources of fresh produce. ANOVA and the Games-Howell test were the analytical procedures used. The ANOVA results indicated that there is statistical difference for all the items at the different retail outlets – farmers’ markets, roadside markets, public markets and supermarkets.
The Games-Howell results obtained indicated that the supermarket mean prices were the highest for all items. Shoppers who purchased pineapple at the farmer’s market instead of the supermarket in 2016 could have potentially achieved the greatest savings of $6.52/kg.
JEL Classification: C12, Q13, M31
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Tests of differential diesel fuels in engine testing room
59-65Views:280The portion of oil could be estimated 33 % of global primary energy consumption in 2012 (BP, 2012) and its average price – beside the products produced from it as well - significantly increased, unlike the demand for transport which has been reduced. This tendency is expected to remain unchanged in the long run, therefore, there is a great importance for the variety of diesel fuel distributors, in comparison of the ratio value for each of them, and replacing them with biodiesel can be used in the comparison. We executed 3 dynamometer measurements performed to determine three different dealers purchased diesel oil, some economical examinations of the diesel oil retail price, and the use of biodiesel all based on the expected economic studies in the literature studies of extra fuel consumption values. The results of these tests indicate that the differences of consumption between diesel oils can be up to 5 %, the conclusion is that distinctions of diesel oil consumptions are almost the same when we tested the differences between diesel oil and biodiesel. This means we can reach the same result with a high quality biodiesel as with poor quality diesel oil. This also means that– below 20% of mixing ratio we can easily choose by prices alone. Between these prices and products ( D1, D2, D3), we can save 4.8% diesel oil by using D2, 6.2% diesel oil by using D3 compared to D1. There could be a little revolution variance (D2: 2.9-6%, D3: 4.9- 7.1%), but this variance is under 1% so it is negligible.
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Market trends and consumer demand for fresh berries
11-14Views:714We present an analysis of markets for fresh strawberries, blueberries, blackberries and raspberries in the United States during 2008–2011. We use weekly panel data covering supermarket purchases in 52 cities. The primary goal is to estimate demand elasticities for fresh berries and thereby provide a better understanding of consumer behaviour in response to price changes and the nature of competition among these crops. We estimate fixed and random effects models for double log demand equations and a complete demand system, the Almost Ideal Demand System. The latter specification can be used to estimate demand relationships that conform to utility maximising behaviour. The elasticity estimates are very robust across the different specifications and estimation methods. This increases confidence in our findings and provides some assurance that choice of functional form or estimation method is not driving our results. We find that retail demands for all berry crops are in the elastic range and that the different berries are substitutes for one another. The demand for strawberries was the least elastic with an own price elasticity of –1.26 and blackberries were the most elastic with a demand elasticity of –1.88. Blackberry demand was also the most responsive to the prices of competing berry crops. The study provides clearer insight into markets for berries in the United States. In addition, it fills a gap in the present lack of up-to-date consumer demand elasticities for these crops and will be useful for growers, decision makers and consumers.
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QUANTITATIVE RESEARCH OF FACTORS (CONVENIENCE OF ACCESS AND GENDER) INFLUENCING THE FOOD STORE CHOICE IN NAGYKŐRÖS
Views:184The objective of the research is to analyze the food purchasing decisions of Hungarian customers depending on priority factors (convenience of access and gender) that impact the food store choice.
To identify the characteristics of food shopping behaviour, we conducted a customer survey of 220 individuals in the city of Nagykőrös. The data collection was carried out using a standard questionnaire and an online survey on the Nagykőrös public life community social media portal, and by informing shoppers about the possibility to fill in the questionnaire in the Municipality’s posts. The sample can be considered representative based on the gender distribution of the primary food purchaser.
During the analysis of the data, in addition to descriptive statistics, we utilized factor analysis to describe the mindset of the customers, and created segments based on the factors influencing the choice of store using cluster analysis.
For the vast majority of consumers, the primary determinant in selecting a store is the affordable price level, regardless of how often they make purchases. When shopping on a daily basis, customers prioritize the store’s proximity to their residence, promotional discounts, and variety of products available. Men tend to value a relaxed ambiance and convenient parking, while women prioritize special deals and competitive prices when choosing their regular shopping location
We have identified price sensitivity, accessibility, location, and atmosphere as key factors. Throughout our research, we have categorized customers into four distinct clusters: Action-oriented family members (36.1%), Conscious shopping family members (29.9%), Price-conscious seniors (20.6%), and Curious beginners (13.4%).
A significant hurdle for Hungarian retail companies is to enhance the quantity of their loyal customers, which they can solely achieve by taking market share from their rivals (primarily other retail companies). Initially, they must determine whether their customer base favours their kind of store for everyday or bulk shopping. They must cater to the demands of their target customer base (potentially the clusters established by our research) in relation to the key factors influencing store selection and purchase frequency, in order to attain success in their business. We suggest utilizing the factors that influence store selection as segmentation criteria.
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