Inter-store externalities and the efficient allocation of a commercial center space: the case of Sonae Sierra

• Autor(a) principal: Azevedo, Marta João Veríssimo de
• Data de Publicação: 2010
• Tipo de documento: Dissertação
• Idioma: eng
• Título da fonte: Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
• Texto Completo: http://hdl.handle.net/10071/2773
• topic: Externalities; Anchor store; Commercial Center; Space Allocation; Externalidades; Lojas Âncora; Centro Comercial; Alocação de Espaço

This thesis analyzes the complex problem of an efficient space allocation in shopping centers in the presence of inter-store externalities. In doing so, we exploit a comprehensive and unique dataset extending for a period of three consecutive years, to confirm that anchors generate positive externalities by increasing the sales of non-anchor stores and, in turn, non-anchor stores pay for those benefits through higher rents. Taking this into account, the developer should allocate space to the various stores in order to maximize the center turnover and retailer profits. The carried out empirical analysis shows that, on average, anchor stores have more space provided, higher volume of sales, and lower rents to pay. Specifically, „restaurant‟ and „cinema‟ types of anchors contribute to an increase on non-anchor sales and, simultaneously, the former also provides an increase on non-anchor stores rent. These findings have strong practical implications for the design of a commercial center space.