{"id":12,"date":"2022-04-18T03:18:05","date_gmt":"2022-04-18T03:18:05","guid":{"rendered":"http:\/\/1.15.156.47\/wordpress\/?p=12"},"modified":"2023-03-01T02:56:32","modified_gmt":"2023-03-01T02:56:32","slug":"how-many-extra-sales-can-zara-bring-to-the-surrounding-tenants","status":"publish","type":"post","link":"https:\/\/weijiabin.xyz\/?p=12","title":{"rendered":"How many extra sales can ZARA bring to the surrounding tenants?"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"12\" class=\"elementor elementor-12\">\n\t\t\t\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-68069cc elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"68069cc\" data-element_type=\"section\" data-settings=\"{&quot;_ha_eqh_enable&quot;:false}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-5807c25\" data-id=\"5807c25\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-0d3a22b elementor-widget elementor-widget-text-editor\" data-id=\"0d3a22b\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.6.8 - 27-07-2022 *\/\n.elementor-widget-text-editor.elementor-drop-cap-view-stacked .elementor-drop-cap{background-color:#818a91;color:#fff}.elementor-widget-text-editor.elementor-drop-cap-view-framed .elementor-drop-cap{color:#818a91;border:3px solid;background-color:transparent}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap{margin-top:8px}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap-letter{width:1em;height:1em}.elementor-widget-text-editor .elementor-drop-cap{float:left;text-align:center;line-height:1;font-size:50px}.elementor-widget-text-editor .elementor-drop-cap-letter{display:inline-block}<\/style>\t\t\t\t<p>Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-334eaab elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"334eaab\" data-element_type=\"section\" data-settings=\"{&quot;_ha_eqh_enable&quot;:false}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-fca2f0a\" data-id=\"fca2f0a\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-11cdadb elementor-widget elementor-widget-image\" data-id=\"11cdadb\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.6.8 - 27-07-2022 *\/\n.elementor-widget-image{text-align:center}.elementor-widget-image a{display:inline-block}.elementor-widget-image a img[src$=\".svg\"]{width:48px}.elementor-widget-image img{vertical-align:middle;display:inline-block}<\/style>\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"1325\" height=\"1364\" src=\"https:\/\/weijiabin.xyz\/wp-content\/uploads\/2022\/06\/2022-09-01-16_34_02.gif\" class=\"attachment-full size-full\" alt=\"\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-67ab98d elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"67ab98d\" data-element_type=\"section\" data-settings=\"{&quot;_ha_eqh_enable&quot;:false}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-f82846f\" data-id=\"f82846f\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-f40f2aa elementor-widget elementor-widget-text-editor\" data-id=\"f40f2aa\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>A well-designed tenant mix in the shopping mall will generate positive spillover effects among tenants, which will bring extra foot traffic and sales to tenants and improve the overall economic performance of the shopping mall. Thus, a clear measurement of the intensity and direction of retail spillover effects are significantly important to the success of shopping mall management and operation. The spillover effects of tenant mix at the mall level have been well articulated by extant studies, but very few studies have tried to quantify the spillover effects among tenants inside the shopping mall, which is mainly due to the absence of granular data in measuring the tenant economic performance and consumers&#8217; behaviors. As more and more shopping malls are seeking digital transformations, new granular datasets, such as detailed tenant sales data and consumer foot traffic data, are available. This study aims to fill the gap in quantifying retail spillover effects at the tenant level with the daily tenant sales data and consumer trajectories data from a study shopping mall in China. This study will answer the research questions below:<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-c713d40 elementor-widget elementor-widget-text-editor\" data-id=\"c713d40\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<ul><li>What is the source of the spillovers? spatial proximity, price similarities, tenant type complementarity?<\/li><li>How to precisely quantify the intensity, direction and location tenant-level spillovers?<\/li><li>Are sales spillovers and footfall spillovers linked?<\/li><\/ul>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-791b526 elementor-widget elementor-widget-text-editor\" data-id=\"791b526\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>This study develops a threefold analysis framework to quantify the spillover effects from the sales and footfall perspectives. The sales spillover analysis result shows that retail spillovers are mainly generated from the spatial and type proximity in the study shopping mall and reveals that spillover effects mainly concentrate in the restaurant agglomeration and anchor store area. The proceeding footfall analysis will allow us directly measure the spillovers and reveal the links between sales and footfall spillovers. This new data-driven analysis pipeline is applicable to analyze other shopping malls, or to be developed into management products for the real estate industry.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-75b64d0 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"75b64d0\" data-element_type=\"section\" data-settings=\"{&quot;_ha_eqh_enable&quot;:false}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-4aa29ce\" data-id=\"4aa29ce\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-ce7591e elementor-widget elementor-widget-text-editor\" data-id=\"ce7591e\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><strong>1. Overall tenant spillover in terms of sales<\/strong><\/p><p>We construct three regression models to examine the existence of spillover effects at the shopping mall level with tenant daily sales data. The baseline model is the classic spatial lag regression. The multiple lag regression model includes price, popularity and type similarity matrices. The cumulative spatial lag regression further examines spatial attenuation of spillover effects.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-5601351 elementor-widget elementor-widget-image\" data-id=\"5601351\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"498\" src=\"https:\/\/weijiabin.xyz\/wp-content\/uploads\/2022\/06\/Screen-Shot-2022-09-01-at-11.39.54-AM-1024x498.png\" class=\"attachment-large size-large\" alt=\"\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-d5d7c00 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"d5d7c00\" data-element_type=\"section\" data-settings=\"{&quot;_ha_eqh_enable&quot;:false}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-2256928\" data-id=\"2256928\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-952ae61 elementor-widget elementor-widget-text-editor\" data-id=\"952ae61\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><strong>2. Tenant level spillover in terms of sales<\/strong><\/p>\n<p>Since sales and visitor data is non-stationary and have strong weekly seasonality, we use a seasonal differencing to make the time series stationary. Two stores which are adjacent to another store can be correlated, leading to the inference of spurious spillover effects. To solve this, many studies in the financial and genomics field use partial correlation. The partial correlation measures the degree of association between two random variables, with the effect of a set of controlling random variables removed. We calculate the partial correlation matrix among shops and use it as the link weight matrix to construct the sales and visitor count relatedness networks.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-bcc80a9 elementor-widget elementor-widget-image\" data-id=\"bcc80a9\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"688\" src=\"https:\/\/weijiabin.xyz\/wp-content\/uploads\/2022\/06\/Screen-Shot-2022-09-01-at-11.51.40-AM-1024x688.png\" class=\"attachment-large size-large\" alt=\"\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-5207bdd elementor-widget elementor-widget-text-editor\" data-id=\"5207bdd\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>The graph shows clusters of tenants have very strong spillover effects among each other: <br \/>1) The restaurants and the entertainment tenants on the 5th and 6th floor; <br \/>2)The restaurants on the 4th floor; <br \/>3) The fast fashion and beauty brands near the subway entrance on the basement floors.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-56f9378 elementor-widget elementor-widget-image\" data-id=\"56f9378\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"1008\" height=\"1024\" src=\"https:\/\/weijiabin.xyz\/wp-content\/uploads\/2022\/06\/Screen-Shot-2022-09-01-at-12.06.39-PM-1008x1024.png\" class=\"attachment-large size-large\" alt=\"\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-26c9c34 elementor-widget elementor-widget-text-editor\" data-id=\"26c9c34\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>We use the average weighted inwards correlation to indicate how likely a tenant benefits from spillover generated by the surrounding tenants and vice versa. The majority of fitness and beauty salon tenants in the study mall are isolators, while most restaurants and fast fashion tenants are in-out balanced.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-f398e29 elementor-widget elementor-widget-image\" data-id=\"f398e29\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"967\" src=\"https:\/\/weijiabin.xyz\/wp-content\/uploads\/2022\/06\/Screen-Shot-2022-09-01-at-11.55.35-AM-1024x967.png\" class=\"attachment-large size-large\" alt=\"\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-a767eef elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"a767eef\" data-element_type=\"section\" data-settings=\"{&quot;_ha_eqh_enable&quot;:false}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-711fc09\" data-id=\"711fc09\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-6f49ac6 elementor-widget elementor-widget-text-editor\" data-id=\"6f49ac6\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><strong>3. Tenant level spillover in terms of footfall (in progress)<\/strong><\/p><p>Many existing studies have pointed out that consumers&#8217; demand for shopping or visiting various stores during a shopping trip is the root driver behind the spillover effects. Thus, we will construct the footfall sharing network among stores with the same methodology that is used in the sales spillover effect. Then we further measure the alignment of the two networks with Known Node-Correspondence (KNC) methods to see whether the sales impacts between stores are related to the foot traffic impacts.\u00a0<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-d02332c elementor-widget elementor-widget-image\" data-id=\"d02332c\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"965\" src=\"https:\/\/weijiabin.xyz\/wp-content\/uploads\/2022\/06\/Screen-Shot-2022-09-01-at-4.50.31-PM-1024x965.png\" class=\"attachment-large size-large\" alt=\"\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo. A well-designed tenant mix in the shopping mall will generate positive spillover effects among tenants, which will bring extra foot traffic and sales to tenants and improve the overall economic performance of the shopping mall. Thus, a [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[17,18],"tags":[19,33,29,22,23,28],"class_list":["post-12","post","type-post","status-publish","format-standard","hentry","category-ai-ml","category-data-analytics-visualization","tag-data-driven","tag-machine-learning","tag-network-analysis","tag-physicaldigital-hybrid","tag-real-estate","tag-urban-economics","entry"],"_links":{"self":[{"href":"https:\/\/weijiabin.xyz\/index.php?rest_route=\/wp\/v2\/posts\/12","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/weijiabin.xyz\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/weijiabin.xyz\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/weijiabin.xyz\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/weijiabin.xyz\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=12"}],"version-history":[{"count":51,"href":"https:\/\/weijiabin.xyz\/index.php?rest_route=\/wp\/v2\/posts\/12\/revisions"}],"predecessor-version":[{"id":1558,"href":"https:\/\/weijiabin.xyz\/index.php?rest_route=\/wp\/v2\/posts\/12\/revisions\/1558"}],"wp:attachment":[{"href":"https:\/\/weijiabin.xyz\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=12"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/weijiabin.xyz\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=12"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/weijiabin.xyz\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=12"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}