Browsing by Author "Morenikeji Abiola JEMILOHUN"

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    Contextual Factors and Sustainability of Retailers in the Traditional Open Markets in Ibadan, Oyo State, Nigeria
    (Lead City University, Ibadan, 2023-12) Morenikeji Abiola JEMILOHUN
    Retailers in the traditional open market in Ibadan foster an atmosphere conducive for value delivery to customers which boost direct-indirect employment opportunities. Despite their relevance to Ibadan economy, preliminary investigation suggest that many had shut down, while others surviving are having trouble maintaining superior performance. This prompted the intention to analyze how contextual factors-business acumen impact their sustainability. The Cross-sectional survey research design was adopted. The population of open market retailers in Ibadan is infinite. A sample size of 422 was determined through Cronchan formula and a purposive sampling technique was used to select the open market retailers. A validated questionnaire was used to collect data. The Cronbach’s Alpha coefficients for the constructs ranged from 0.83 to 0.89. The response rate of 95.2% was achieved. Data were analysed using descriptive and inferential statistics. Findings revealed that financial literacy has no significant effect on sustainability (R2= 0.002, F(1,400)= 0.935, p= 0.334); Finance accessibility have significant effect on sustainability (R2=0.246, F(1,400)= 130.700, p= 0.000);Digital marketing have significant effect on sustainability (R2= 0.122, F(1,400)= 55.503, p= 0.000);Contextual factors have significant effect on significanteffect on sustainability (R2= 0.231, F(1,400)= 119.957, p= 0.000); Business knowledge has no significant moderating effect on the relationship between contextual factors and sustainability of retailers in traditional open markets in Ibadan (R2=0.231, F(1,400)=119.957, p=0.000).This study concluded that contextual factors played a significant role enhancing the sustainability of retailers in traditional open markets in Ibadan. The study recommended that activities on financial literacy should be prioritized, followed by exploring digital marketing platforms and having access to cheap credits will go a long way to ensuring the sustainability of the retailers in the traditional open markets in Ibadan, Oyo State. Keywords: Retailers, Traditional Open Market, Customers, Contextual Factors, Sustainability, Business Knowledge Word Count: 280