Year: 2024 | Month: November | Volume: 11 | Issue: 11 | Pages: 239-247
DOI: https://doi.org/10.52403/ijrr.20241119
Socioeconomic Determinants of Fast Food Vending in Nnewi Metropolis, Anambra State, Nigeria
Nkamigbo, D.C., Gbughemobi, B.O.1, Nwankwo, E.C.2, Ositanwosu, C.O.3
1Department of Agricultural Economics and Extension, Faculty of Agriculture, Nnamdi Azikiwe University Awka, Nigeria, West Africa &
2Department of Agricultural Economics and Extension, Faculty of Agriculture, Chukwuemeka Odumegwu Ojukwu University, Igbariam, Anambra State.
Corresponding Author: Nkamigbo, D.C., Gbughemobi, B.O.
ABSTRACT
This study on the socioeconomic determinants of fast food vending in Nnewi metropolitan city, Anambra State, Nigeria specifically established the socioeconomic characteristics of fast food vendors, various fast food vending prevalence in the study area, profitability of fast food vending, socioeconomic characteristics of fast food vendors that influences net return and constraints to fast food vendors in the study area. Simple random techniques was used to select 120 vendors for the study. Findings from socioeconomic characteristics shows that majority of the vendors/marketers are within the age limit of 40-49 years. Findings from various fast food marketing prevalence in the study area shows that fried Akara and palp had (29.16%) which stands to be the highest fast food vending in the study area. Finding from estimated monthly profitability of fast food marketing shows that the transaction generated a gross margin of N1,720,909.83.00, net marketing income of N1,515,369.83 and net return on investment of 0.37. The implication of the net return on investment is that the marketers return 37 kobo for every 1 Naira invested in the business. Finding from influence of socioeconomic characteristics on net marketing income of fast food vending shows that out of the nine predictors included in the model, only four were significant namely gender, household, source of finance and marketing experience. Finding from constraints shows that that expensive tax (several collection from government) (M= 3.05) was perceived as the most serious challenge in fast food vending in the study area. Too much collection from government and its agency should be addressed by government and relevant stake holders and government should formulate a programs to train these vendors to align to world class vending were recommended.
Keywords: Fast-food, determinants, vending, marketing, profitability.
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