BEING CLOSER TO BIKE SHARE IS BETTER FOR BUSINESSES

A new study from researchers at New York University (NYU) shows that restaurants closer to bike share stations do better business than those farther away. Using anonymized transaction data from Mastercard’s Retail Location Insights, a data and mapping tool, and from Citi Bike System Data and the NYC OpenData portal researchers tracked retail sales volumes in the period after Citi Bike stations were installed in Brooklyn, New York and Jersey City, New Jersey neighborhoods between 2013 and 2016. They found that food retailers (typically restaurants) in the Brooklyn neighborhoods closest to bike share stations saw their total volume of business increase from between .2 and .5 percent in the years after bike share stations were added. Food retailers in the same neighborhoods located farther from bike share stations saw level or slight decreases in retail volume. Download Impact Of Urban Technology Deployments On Local Commercial Activity: https://bit.ly/2qb11t4 (.pdf)