Close to Home: Analyzing Urban Consumer Behavior and Consumption Space in Seoul
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arXiv
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| Main Authors: | , , , |
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| Format: | Preprint |
| Published: |
2024
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| _version_ | 1866916339297288192 |
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| author | Choi, Hyoji Neffke, Frank Yu, Donghyeon Jun, Bogang |
| author_facet | Choi, Hyoji Neffke, Frank Yu, Donghyeon Jun, Bogang |
| contents | This study explores how the relatedness density of amenities influences consumer buying patterns, focusing on multi-purpose shopping preferences. Using Seoul's credit card data from 2018 to 2023, we find a clear preference for shopping at amenities close to consumers' residences, particularly for trips within a 2 km radius, where relatedness density significantly influences purchasing decisions. The COVID-19 pandemic initially reduced this effect at shorter distances but rebounded in 2023, suggesting a resilient return to pre-pandemic patterns, which vary over regions. Our findings highlight the resilience of local shopping preferences despite economic disruptions, underscoring the importance of amenity-relatedness in urban consumer behavior. |
| format | Preprint |
| id |
arxiv_https___arxiv_org_abs_2407_20587 |
| institution | arXiv |
| publishDate | 2024 |
| record_format | arxiv |
| spellingShingle | Close to Home: Analyzing Urban Consumer Behavior and Consumption Space in Seoul Choi, Hyoji Neffke, Frank Yu, Donghyeon Jun, Bogang General Economics Economics This study explores how the relatedness density of amenities influences consumer buying patterns, focusing on multi-purpose shopping preferences. Using Seoul's credit card data from 2018 to 2023, we find a clear preference for shopping at amenities close to consumers' residences, particularly for trips within a 2 km radius, where relatedness density significantly influences purchasing decisions. The COVID-19 pandemic initially reduced this effect at shorter distances but rebounded in 2023, suggesting a resilient return to pre-pandemic patterns, which vary over regions. Our findings highlight the resilience of local shopping preferences despite economic disruptions, underscoring the importance of amenity-relatedness in urban consumer behavior. |
| title | Close to Home: Analyzing Urban Consumer Behavior and Consumption Space in Seoul |
| topic | General Economics Economics |
| url | https://arxiv.org/abs/2407.20587 |