Demographic Variables: A Predictor of Consumer Buying Behaviour in Retail Outlets in South-West Nigeria

Abstract

Retailers in informal and formal retail outlets with insufficient information and lack of in-depth understanding of the varying factors that affects the buying behaviour of consumers encounter difficulties in satisfying their customers. The study examined the effects of demographic variables as a predictor of consumer buying behaviour in retail outlets in Nigeria. Primary data was employed. 1,000 respondents were selected trough convenience sampling technique and regression analysis was used. The study findings revealed that in informal retail outlet, marital status and health have positive effects at 5% significance level and LR-stat (52.79) with sig (0.000) while educational level, income and gender have negative effects. In the formal retail outlet, age, price level, income, gender and health have positive effects at 5% significance level and LR-stat (103.42) with sig (0.000) while variables such as marital status and saving have negative effect on the buying behaviour of consumers. The study concludes that in formal retail outlets, demographic variables have a significance in informal retail outlet as well as formal retail outlet. The study recommends that retailers in informal and formal retail outlets should study and understand all the demographic variables as it has either positive or negative effects at different levels of significance.