Economic Analysis of Trades Post-Revitalization of The Ngawi Grand Market in 2023

Abstract

Traditional markets typically have dirty, muddy air and unpleasant odors. They also have weaknesses that are difficult to change. There are several differences compared to modern shopping centers, such as an unideal layout and irregular spatial arrangements. Physical and non-physical improvements can be used to enhance the conditions of traditional markets, commonly referred to as revitalization programs. The revitalization of traditional markets is one of the government’s efforts to ensure that traditional markets continue to operate and restore their actual functions. After the revitalization was carried out at the Ngawi Grand Market, researchers conducted a study to determine the effectiveness of the market revitalization on traders' economies. Respondent samples were taken from traders using a Proportional Random Sampling technique, which ensures that every member of the population has an equal opportunity to be selected as part of the sample. After categorization, the number of samples was determined through a simple random sampling process, which is a probability sampling technique where every member of a population has an equal chance of being chosen as part of the sample through a lottery or using a formula to produce the required sample size. The results of this study indicate that the revitalization carried out by the government at the Ngawi Grand Market has been successful due to the increase in income, which positively impacts the traders' economy.