Calculates the Money Spent by Secondary Shoppers

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

Usage

Total_Spend_Secondary_Shoppers(
  per_of_grocery_spend_sec = 25,
  pct_metro_sec = 40,
  pct_rural_sec = 50,
  pct_town_sec = 50,
  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_sec: the percentage of groceries secondary shoppers will spend at the proposed store
pct_metro_sec: The percentage of secondary shoppers in metro market default taken as 40% unless specified otherwise.
pct_rural_sec: The percentage of secondary shoppers in rural market default taken as 50% unless specified otherwise.
pct_town_sec: The percentage of secondary shoppers in town market default taken as 50% 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 secondary 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 Secondary_Shopper_Count()

Author

Srika Raja

Examples

#Total_Spend_Secondary_Shoppers(state_index=99)