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Abstract

Abstract
 
Purpose - This study primarily examines how local retail businesses strategically take advantage of an event like the Peace and Love Festival. The financial effects of the event on these businesses were studied with a focus on whether sales increase or decrease during the Festival. The influence of three important factors was examined; business strategy, location of business and type of business on local businesses’ sales during festivals. The study assessed the impact of specific location and the effect of these festivals on different types of businesses. It uncovers the influence of such events on businesses, particularly on their sales. Overall, such festivals have positive financial effects on all local business, except a few, which are further explored in the study.