Gentrification in New York City: The Effect on the Sales Volume of Small Businesses
Open Access
Author:
Walsh, Elizabeth
Area of Honors:
Finance
Degree:
Bachelor of Science
Document Type:
Thesis
Thesis Supervisors:
Brian Spangler Davis, Thesis Supervisor Brian Spangler Davis, Thesis Honors Advisor Eric Silver, Faculty Reader
Keywords:
Gentrification New York City Sales Volume Small Business
Abstract:
This research investigates the effect of gentrification on the sales volume of small New York City businesses. I define gentrified or non-gentrified neighborhoods by collecting demographic data and then linking it to historical business information. I find that non-gentrified areas have higher average sales volumes than gentrified areas in each year from 2015 – 2020. In 2020, non-gentrified neighborhoods have an average sales volume 1,204 units higher than gentrified neighborhoods (p < .01). As well, New York City year, neighborhood, and zip code information all have a statistically significant relationship with the occurrence of gentrification and the average sales volume of small businesses.
