Analysis of changes in geographical factors affecting sales in commercial alleys after COVID-19 using machine learning techniques.

ABSTRACT

Social restrictions, such as social distancing and self-isolation, imposed owing to the coronavirus disease-19 (COVID-19) pandemic have resulted in a decreased demand of commodities and manufactured products. However, the factors influencing sales in commercial districts in the pre- and post-COVID-19 periods have not yet been fully understood. Thus, this study uses machine learning techniques to identify the changes in important geographical factors among both periods that have affected sales in commercial alleys. It was discovered that, in the post-COVID-19 period, the number of pharmacies, age groups of the working population, average monthly income, and number of families living in apartments priced higher than $600k in the catchment areas had relatively high importance after COVID-19 in the prediction of a high level of sales. Moreover, the percentage of deciduous forests appeared to be a important factor in the post-COVID-19 period. As the average monthly income and worker population in their 60s and numbers of pharmacies and banks increased after the pandemic, sales in commercial alleys also increased. The survival of commercial alleys has become a critical social problem in the post-COVID-19 era; therefore, this study is meaningful in that it suggests a policy direction that could contribute to the revitalization of commercial alley sales in the future and boost the local economy.