PARKING FACILITIES AND THEIR ROLE IN THE SUCCESS OF THE RETAIL INDUSTRY

This paper reviews the literature on parking and retail with an emphasis on establishing a link between provision of parking facilities and the impact it has on retail success. It includes recent trends regarding the global financial crisis and the digital influence that impact consumer behaviour. Furthermore, market distortions that arise due to inefficient parking price schemes are addressed. This paper points out that retailers overestimate car usage and under estimate the impact pedestrians and transit consumers have on generating revenues for store managers.