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

Hyoji Choi, Frank Neffke, Donghyeon Yu and Bogang Jun
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Hyoji Choi: Inha University
Donghyeon Yu: Inha University

No 2024-4, Inha University IBER Working Paper Series from Inha University, Institute of Business and Economic Research

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.

Keywords: Resilience; Consumption behavior; Relatedness; COVID-19 (search for similar items in EconPapers)
JEL-codes: D12 O18 R12 (search for similar items in EconPapers)
Pages: 35 pages
Date: 2024-08
New Economics Papers: this item is included in nep-dcm and nep-ure
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https://drive.google.com/file/d/1ZMcXFPcgwvBa5R_iM ... 9sY/view?usp=sharing First version, 2024 (application/pdf)

Related works:
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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