An examination of the challenges of cross-border trade for retail businesses in Nigeria: A case study of shopping malls in Nasarawa State
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Background of the Study
Cross-border trade plays a vital role in the retail sector in Nigeria, where businesses engage in importing and exporting goods across borders, particularly with neighboring countries. Retail businesses, including shopping malls, rely heavily on cross-border trade to source products that are in demand among Nigerian consumers. However, this trade is not without challenges. Factors such as fluctuating exchange rates, customs regulations, border security issues, and logistical barriers can disrupt the smooth flow of goods across borders (Hassan & Ali, 2023).
In Nasarawa State, shopping malls have become central hubs for retail activities, and cross-border trade is crucial to their success, as many goods sold in these malls are imported from neighboring countries. Despite the importance of cross-border trade, many retail businesses in Nasarawa State face significant challenges related to trade logistics, regulatory hurdles, and political instability. Understanding these challenges is crucial for developing strategies that can help retailers navigate the complexities of cross-border trade and ensure the continued growth of retail businesses in the region. This study aims to examine the specific challenges faced by shopping malls in Nasarawa State when engaging in cross-border trade.
Statement of the Problem
Cross-border trade remains an essential aspect of retail business in Nigeria, but it is plagued with numerous challenges that hinder the effective operation of retail businesses, especially shopping malls. Issues such as delays in customs clearance, high tariffs, and security concerns at borders negatively impact the supply chain of retail businesses, leading to increased costs and reduced profitability. Despite the importance of cross-border trade for retail businesses in Nasarawa State, little research has been conducted on the specific challenges faced by shopping malls in this context. This study seeks to fill this gap by exploring the challenges of cross-border trade for retail businesses in the state.
Objectives of the Study
- To identify the key challenges faced by shopping malls in Nasarawa State when engaging in cross-border trade.
- To assess the impact of these challenges on the supply chain and profitability of retail businesses.
- To propose recommendations for overcoming the challenges of cross-border trade for shopping malls in Nasarawa State.
Research Questions
- What are the major challenges faced by shopping malls in Nasarawa State in cross-border trade?
- How do these challenges affect the supply chain and profitability of retail businesses in Nasarawa State?
- What strategies can shopping malls in Nasarawa State adopt to overcome the challenges of cross-border trade?
Research Hypotheses
- There is a significant relationship between the challenges of cross-border trade and the supply chain efficiency of shopping malls in Nasarawa State.
- Cross-border trade challenges negatively impact the profitability of retail businesses in Nasarawa State.
- Implementing effective strategies can reduce the negative impact of cross-border trade challenges on shopping malls in Nasarawa State.
Scope and Limitations of the Study
This study will focus on shopping malls in Nasarawa State and examine the challenges they face with cross-border trade. It will not include other types of retail businesses or regions. Limitations include the difficulty of obtaining data from border security and customs authorities and potential bias in responses from business owners.
Definitions of Terms
- Cross-border Trade: The exchange of goods and services between different countries, typically facilitated by imports and exports.
- Shopping Malls: Large retail centers that house a variety of shops and services under one roof.
- Supply Chain: The process by which products are sourced, manufactured, and delivered to consumers.
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