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- P-ISSN1738-3110
- E-ISSN2093-7717
- SCOPUS, ESCI
ISSN : 1738-3110
A study on the evaluation of and demand forecasting for real estate using simple additive weighting model: The case of clothing stores for babies and children in the Bundang area
Lee, Sun-Young
Abstract
Purpose - This study was conducted under the assumption that brand A, a store of company Z of Pangyo, with a new store at Pangyo station is targeting the Bundang-gu area of the newly developed city of Seongnam. Research design, data, methodology - As a result of demand forecasting using geometric series models, an extrapolation of past trends provided the coefficient estimates, without utilizing regression analysis on a constant increase in children's wear, for which the population size and estimated parameter were required. Results - Demand forecasting on the basis of past trends indicates the likelihood that sales of discount stores in the Bundang area, where brand A currently has a presence, would fetch a higher estimated value than that of the average discount store in the country during 2015. If past trends persist, future sales of operational stores are likely to increase. Conclusions - In evaluating location using the simple weighting model, Seohyun Lotte Mart obtained a high rating amongst new stores in Pangyo, on the basis of accessibility, demand class, and existing stores. Therefore, when opening a new counter at a relevant store, a positive effect can be predicted.
- keywords
- Locational Assessment, Demand Forecast, Demand forecasting method, Entropy
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