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

Author

Listed:
  • Hyoji Choi

    (Inha University)

  • Frank Neffke

    (Harvard University)

  • Donghyeon Yu

    (Inha University)

  • Bogang Jun

    (Inha University)

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.

Suggested Citation

  • Hyoji Choi & Frank Neffke & Donghyeon Yu & Bogang Jun, 2024. "Close to Home: Analyzing Urban Consumer Behavior and Consumption Space in Seoul," Inha University IBER Working Paper Series 2024-4, Inha University, Institute of Business and Economic Research.
    • Handle: RePEc:inh:wpaper:2024-4
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    References listed on IDEAS

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    More about this item

    Keywords

    Resilience; Consumption behavior; Relatedness; COVID-19;
    All these keywords.

    JEL classification:

    • D12 - Microeconomics - - Household Behavior - - - Consumer Economics: Empirical Analysis
    • O18 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Urban, Rural, Regional, and Transportation Analysis; Housing; Infrastructure
    • R12 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Size and Spatial Distributions of Regional Economic Activity; Interregional Trade (economic geography)

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