The Impact of Economic Recession on Retail Business Survival: A Case Study of Supermarkets in Niger State
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Background of the Study
Economic recessions are periods of significant economic downturn characterized by reduced consumer spending, declining business revenues, and increased unemployment. In Nigeria, economic recessions such as those in 2016 and 2020 severely impacted retail businesses, including supermarkets, which are critical for supplying essential goods (Ogbonna & Okeke, 2024). The survival of retail businesses during these periods depends on their ability to adapt to fluctuating consumer demands, rising operational costs, and supply chain disruptions.
Supermarkets in Niger State play an essential role in meeting the diverse needs of the local population. However, economic downturns have forced many retailers to reduce their operational scale, increase prices, or close down entirely due to financial constraints (Ibrahim et al., 2023). Previous studies have highlighted the vulnerability of retail businesses to macroeconomic shocks but have paid little attention to the adaptive strategies employed by supermarkets in Niger State during recessions. Understanding these strategies is crucial for informing policies and practices aimed at ensuring retail sector resilience during economic turbulence.
Statement of the Problem
Economic recessions have posed significant challenges to retail businesses in Niger State, with supermarkets experiencing drastic reductions in profitability and customer traffic. Factors such as inflation, reduced purchasing power, and supply chain inefficiencies exacerbate these difficulties (Adamu & Bello, 2025). Despite these challenges, limited research has been conducted to explore how supermarkets navigate such periods of economic instability. This knowledge gap has impeded the formulation of targeted interventions to support retail business survival during recessions.
Objectives of the Study
- To assess the impact of economic recession on the survival of supermarkets in Niger State.
- To examine the adaptive strategies employed by supermarkets during economic recessions.
- To propose recommendations for enhancing the resilience of retail businesses during economic downturns.
Research Questions
- How does economic recession impact the survival of supermarkets in Niger State?
- What adaptive strategies do supermarkets employ during economic recessions?
- What recommendations can enhance the resilience of retail businesses during economic downturns?
Research Hypotheses
- Economic recessions significantly impact the survival of supermarkets in Niger State.
- Adaptive strategies employed by supermarkets have a positive effect on their resilience during economic downturns.
- Effective resilience strategies significantly enhance retail business survival during economic recessions.
Scope and Limitations of the Study
The study will focus on supermarkets in Niger State, examining their experiences and adaptive strategies during economic recessions. Limitations may include difficulty in accessing financial data and the potential bias of respondents in reporting recessionary impacts.
Definitions of Terms
- Economic Recession: A period of significant economic decline characterized by reduced GDP, rising unemployment, and declining consumer spending.
- Retail Business Survival: The ability of retail businesses to maintain operations and profitability during adverse economic conditions.
- Supermarkets: Retail establishments that sell a wide variety of goods, including groceries and household items.
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