• Korea Real Estate Review
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• v.28 no.1
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• pp.7-21
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• 2018

This study was conducted to determine the location determinants that influence the sales of the "Storyway" convenience stores built at the country's railway stations. The preceding studies were about the convenience stores located in the residence-business areas or along the roadsides. This study, on the other hand, focused on the characteristics of the stations, based on a theory that is different from the existing theories. The targets of this study were the 301 "Storyway" convenience stores doing business in the 198 railway stations in the country, and the dummy parameter and hedonic-price model function were used for multiple regression analysis. For the study results, it was found that the number of people using the railway and the size of the store have a positive effect on the sales whereas the other brand competitors have a negative effect thereon. Second, the subway stations holding 89% of the total passengers in the country have unexpectedly no positive influence on the sales. Third, depending on the transfer, it was found that no transfer station had smaller sales than the transfer stations. Finally, as for the location of the stores in the station, the stores located on the platforms or passageways have a smaller turnover rate than the stores in the welcoming spaces and squares. This research result shows that when starting a convenience store business, the number of people using the railway, the size of the store, the transfer possibility, and the location of the store inside the station have to be considered under the circumstance of recession on the part of the convenience stores due to excessive competition.