Close to Home: Analyzing Urban Consumer Behavior and Consumption Space in Seoul

Hyoji Choi, Frank Neffke, Donghyeon Yu and Bogang Jun

Abstract: 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.

Date: 2024-07
New Economics Papers: this item is included in nep-dcm and nep-ure
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http://arxiv.org/pdf/2407.20587 Latest version (application/pdf)

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Working Paper: Close to Home: Analyzing Urban Consumer Behavior and Consumption Space in Seoul (2024)
Working Paper: Close to Home: Analyzing Urban Consumer Behavior and Consumption Space in Seoul (2024)
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Persistent link: https://EconPapers.repec.org/RePEc:arx:papers:2407.20587

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