Calculates the Money Spent by Rare Shoppers

This function returns the total money spent by rare shoppers visiting a store.

Usage

Total_Spend_Rare_Shoppers(
  per_of_grocery_spend_rare = 5,
  pct_metro_rare = 10,
  pct_rural_rare = 20,
  pct_town_rare = 20,
  metro_pop,
  town_pop,
  rural_pop,
  state_index,
  est_per_price_increase = 7,
  grocery_sales = 8.11541e+11,
  population = 334233854
)

Arguments

per_of_grocery_spend_rare

The percentage of groceries rare shoppers will spend at the proposed store

pct_metro_rare

The percentage of rare shoppers in metro market default taken as 10% unless specified otherwise.

pct_rural_rare

The percentage of rare shoppers in rural market default taken as 20% unless specified otherwise.

pct_town_rare

The percentage of rare shoppers in town market default taken as 20% unless specified otherwise.

metro_pop

Population of the store location

town_pop

Population of all towns in the county

rural_pop

Population of rural cities in our market

state_index

The ratio of the current price of the basket to the price of the basket during the base year.

est_per_price_increase

Estimated increase in price of grocery in cumulative percent default taken as 7 for 2023.

grocery_sales

Total US grocery sales annually. Default value is 811541000000.

population

Total US population. Default value is 334233854.

Value

Outputs the total spending by Rare Shoppers at the proposed store.

Details

This function is taken from the estimating Revenue.xlsx and calculated in step 4. This function calls State_Adj_Capita_Grocery_Spend() and Rare_Shopper_Count()

See also

Total_Spend_Primary_Shoppers(),Total_Spend_Secondary_Shoppers()

Author

Srika Raja

Examples

#Total_Spend_Rare_Shoppers(state_index=99)