Examining Nantong City’s ancient market significance, efficiency, and improvements through a behavioral demand analysis

Abstract

Employing survey data from selected vendors in township markets in Nantong City of Jiangsu Province, this study identifies driving factors of the performance of township markets in terms of external environmental factors. The township market plays a significant role in the socioeconomic and cultural environment of local ecosystems, and their spatial inefficiency is one of the challenges currently facing township markets. Using a behavioural demand framework, this study identifies and quantifies four crucial elements that influence market performance: accessibility in space and place, stall layout, security settings, and the quality of public space. The results demonstrate that accessibility and stall orientation strongly influence vendor earnings and consumer satisfaction, while security configurations have a weaker effect. This study presents a new application of behavioural demand theory to traditional markets and demonstrates how key conservation features can help align vendors’ operational systems with the external preferences of consumers where they can maximize their profit. Although the study focuses on just one city, and thus may limit generalizability, the results provide actionable recommendations for urban planners and regulators. This information is crucial in forming resistant urban areas which harmonize profitability with cultural market preservation. Above all, the study highlights integrating biodiversity conservation and natural resource-based economic strategies into planning policies. This research contributes to resource-efficient, healthy communities and elastic market systems through both the operational and spatial challenges to township markets. Specifically, it demonstrates the influence of accessibility and stall orientation on vendors’ sales and consumer satisfaction as statistically significant, wherein security configuration has a modest influence.