Critical factors for the success of historic food markets: insights from Bolhão market, Portugal

Historic food markets (HFM) have become prominent attractions, offering visitors a unique blend of local culture, social interaction, traditional foods, and authentic experiences. Recognised as important to both tourism and community life, HFM are now integrated into urban development strategies worldwide. Despite their importance, there is a notable lack of research on HFM. This study addresses this gap by analysing the specific HFM elements influencing visitor satisfaction and revisit intentions at Bolh & atilde;o Market, a historic landmark in Porto, Portugal, which reopened in 2022 after extensive rehabilitation. Surveying 371 visitors, we used PLS-SEM to examine various dimensions of the market, including some previously unexplored in the literature. Multigroup analysis identified differences between first-time and repeat visitors. Results reveal that product perception is the strongest determinant of visitor satisfaction, followed by the market's physical environment, authenticity, and aesthetics. Price and events do not influence satisfaction or revisit intention, suggesting the unique market experience outweighs these factors. First-time visitors prioritise the physical environment, while repeat visitors value aesthetics more. This study not only provides the most comprehensive analysis to date of the subject, but it also fills a significant research gap and provides actionable insights for managers and policymakers.