Location: Lincoln Variety Convenience (7 A.M – 10 P.M)90Weber St, Waterloo, ON N2J 3G8
Purpose: To analyze which weekday has the highest amount of sales. Type of the Observation: We did the ‘Structured Observation’ for the first section. The duration of this study was one week and the frequency of gathering data was two that is in morning from 7 A.M to 2 P.M and in the evening from 3 P.M to 10 P.M. Information gathered: Sales figure of the shop for the first week November. Shift Monday Tuesday Wednesday Thursday Friday Saturday Sunday Morning $802 $959 $489 $612 $934 $589 $403 Evening $1285 $753 $1005 $1156 $1076 $672 $389 According to this table, we can conclude that Monday and Friday have the highest sales as compared to other days. These figures also conclude that people generally like to buy things before the weekend and at the start of the week. We can certainly increase the number of hours for certain days and increase sales.
Purpose: To analyze which age group visits the store most frequently. Type of the Observation: For this part we used the ‘Unstructured Observation’. Initially, the focus is on finding the specific ethnicity which is frequently visiting the store; however, this unstructured survey is changed to the age group. The age group figures would be helpful in targeting potential customers. Information gathered: By the survey that we did, we can conclude that the age group of 35 to 54 years visit the store most frequently followed by the age group of 54 to 74 years old. Apart from this the age of 17 to 34 years old is the least frequently visiting the store. Generally, the age group between 34 to 54 years old ask for tobacco products meanwhile the age group between 54 to 74 years old buy lottery tickets or tobacco products. The least frequently visiting age group gets the milk products and beard or candies. We can probe the most frequent age group and increase the sales. Focusing on these customers can increase profits. The monitoring also deduces that 48 % of sales are generated by the most frequently visiting age group. The least frequently visiting age group generates 21 % of sales.
Location 2: Campus Convenience (8 A.M – 12 A.M)150 University Ave W, Waterloo, ON N2L 3E4
Purpose: To analyze which category of product is sold most often? Type of the Observation: For this section we coordinated ‘Uncontrolled Observation’. We conducted an uncontrolled study of customers for a week. A lot of data was gathered through the Point of Sale system in the store. Information gathered: According to the surveillance, fountain drinks were sold the most. The second most sold profit-generating product is tobacco products. On an average 450 dollars of cigarettes are sold. Fresh food products like sandwiches and burritos are also sold often. Milk is another product which is generating sales of 200 dollars per day. We can spend more on inventory for these products and increase the profit
Purpose: To analyze what role do the gas stations play in gaining the profit. Type of Observation: We used the ‘Participant Observation’ for this section. To get a better vision, we participated in the monitoring process. We worked as a volunteer at the store in order to get a better understanding of how can the gas station impact sales. We participated in tasks and gathered the information. Information gathered: Depending on the data that we gathered, we can clearly conclude that a convenience store with the gas station has higher profits. The reason for this is people tend to buy things when they fuel up their cars. A lot of people bought candies and cigarettes. We took part in the gas station activities and these activities led to an outcome that is, the Convenience store in the absence of a gas station has less amount of sales as compared with the ones which are equipped with gas stations.