VIRTUAL London.

Abstract

Urban systems embody complex networks characterized by spatial configurations and functional dynamics, influencing the functionality of cities. Commercial areas are the epitome of aggregated economic transactions that generate the flow of all urban activities. Given their important role, the dynamics of commercial centers require a thorough understanding to capture market share effectively. In Indian contexts, the absence of comprehensive market surveys and rigid planning constraints impede the efficacy of existing commercial areas. This study seeks to explain the quantitative relationship between spatial organization and functional attributes within urban environments in the Indian context to assess their economic performance. The commercial areas of Bhubaneswar, Odisha, India, were explored by conducting surveys and employing questionnaires. Factor Analysis was used to examine transactional dynamics to understand underlying patterns and relationships among the factors. The findings highlight the disparity between spatial configuration and functional efficiency within commercial areas, identifying key spatial and functional factors contributing to economic performance like age, presence of magnets, accessibility, price, and diversity among goods, etc. The study provides insights into the mechanisms driving economic performance by defining the market share and the intricate correlations among relevant variables shaping commercial activities. This assessment serves as a predictive method to plan urban commercial spaces efficiently. Furthermore, the research provides a perspective crucial in aiding the decisions of urban planners, policymakers, and stakeholders, essential for fostering a sustainable and livable urban environment.