Pareto law of the expenditure of a person in convenience stores

Details Pareto law of the expenditure of a person in convenience stores Pareto law of the expenditure of a person in convenience stores

2007-10-07

arxiv.org/abs/0710.1432v1

Physics

Physics and Society

8 pages, 3 figures, Proceedings of APFA6

Scientific paper

10.1016/j.physa.2008.01.059

We study the statistical laws of the expenditure of a person in convenience stores by analysing around 100 million receipts. The density function of expenditure exhibits a fat tail that follows a power law. We observe the Pareto principle where both the top 25% and 2% of the customers account for 80% and 25% of the store's sales, respectively. Using the Lorenz curve, the Gini coefficient is estimated to be 0.70; this implies a strong economic inequality.

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