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Identifying the factors of China's seasonal retail sales of consumer goods using a data grouping approach–based GRA method

Zheng-Xin Wang (School of Economics, Zhejiang University of Finance and Economics, Hangzhou, China)
Ji-Min Wu (School of Economics, Zhejiang University of Finance and Economics, Hangzhou, China)
Chao-Jun Zhou (School of Economics, Zhejiang University of Finance and Economics, Hangzhou, China)
Qin Li (School of Economics and Management, Beihang University, Beijing, China)

Grey Systems: Theory and Application

ISSN: 2043-9377

Article publication date: 6 April 2020

Issue publication date: 19 May 2020

Abstract

Purpose

Seasonal fluctuation interference often affects the relational analysis of economic time series. The main purpose of this paper is to propose a new grey relational model for relational analysis of seasonal time series and apply it to identify and eliminate the influence of seasonal fluctuation of retail sales of consumer goods in China.

Design/methodology/approach

First, the whole quarterly time series is divided into four groups by data grouping method. Each group only contains the time series data in the same quarter. Then, the new series of four-quarters are used to establish the grey correlation model and calculate its correlation coefficient. Finally, the correlation degree of factors in each group of data was calculated and sorted to determine its importance.

Findings

The data grouping method can effectively reflect the correlation between time series in different quarters and eliminate the influence of seasonal fluctuation.

Practical implications

In this paper, the main factors influencing the quarterly fluctuations of retail sales of consumer goods in China are explored by using the grouped grey correlation model. The results show that the main factors are different from quarter to quarter: in the first quarter, the main factors are money supply, tax and per capita disposable income of rural residents. In the second quarter are money supply, fiscal expenditure and tax. In the third quarter are money supply, fiscal expenditure and per capita disposable income of rural residents. In the fourth quarter are money supply, fiscal expenditure and tax.

Originality/value

This paper successfully realizes the application of grey relational model in quarterly time series and extends the applicable scope of grey relational model.

Keywords

Acknowledgements

This research is supported by the National Natural Science Foundation of China (Grant No. 71571157; 71971194).

Citation

Wang, Z.-X., Wu, J.-M., Zhou, C.-J. and Li, Q. (2020), "Identifying the factors of China's seasonal retail sales of consumer goods using a data grouping approach–based GRA method", Grey Systems: Theory and Application, Vol. 10 No. 2, pp. 125-143. https://doi.org/10.1108/GS-11-2019-0055

Publisher

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Emerald Publishing Limited

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